Last year’s Federal Budget announced a big tax change that could provide businesses with substantial tax breaks. This change allows businesses to immediately expense up to $1.5 million dollars in newly acquired assets each year.
Your company’s balance sheet is one of your company’s major financial statements. It reports your business’s assets, liabilities and equity at a specified time – usually at the end of a month, quarter or year. It is a snapshot of what you owe and own.
The new Ontario Business Registry was recently released, giving businesses and non-profit corporations the ability to complete a number of transactions online. Using this registry you can register your business, incorporate, and update your company’s information. You can also file your annual returns directly through the Ontario Business Registry.
The climate action incentive is a payment received by taxpayers to help offset increased costs related to carbon pollution pricing, which is exactly as it sounds – a charge for putting pollutants into the environment.
As a business owner, getting paid and getting paid on time is a critical part of running a successful business. And to do that, you need to provide your client with a well-formatted professional invoice that includes all the information your client needs.
Every year, the government announces the current rates for Employment Insurance (EI) and Canada Pension Plan (CPP) for both employees and employers. Below are the 2022 rates and maximums.
As with every new year, 2022 has its own set of payment and filing deadlines that every taxpayer needs to know about.
To help you out, in this blog we’ve listed the most significant dates and information that you will want to make note of. If you need further tax return help, please do contact one of our chartered professional accountants today!
In October, the Government of Canada announced that it would be releasing new recovery benefit programs for businesses that have been hardest hit by the COVID-19 pandemic. One of these programs was the Tourism and Hospitality Recovery Program (THRP).
While the name specifies tourism and hospitality, the list of qualifying industries and businesses is actually much broader.
