What you need to know about GST/HST
- Monday, 09 December 2013
The GST/HST is a value added tax introduced in Canada in 1991. If your business has an annual worldwide sale of more than $30,000, you must register for GST/HST. The requirement applies to all businesses, including sole proprietorships and partnerships. Registration is not mandatory until you reach the $30,000 threshold for you or your business, but it may be a good idea to sign up voluntarily.
Tax Implications of Owning a Cottage or Second Home
- Monday, 07 October 2013
Cottage ownership is enjoyed by many. Having a place away from home, where you can experience the great outdoors with family and friends is golden. Other people prefer a change in scenery and would rather have the flexibility of going to different places rather than be compel to one given location. I guess different strokes for different folks.
If you own a cottage or second home and are now seeking to sell, a few things will come to mind- mainly the tax implications of ownership.
Clearing the air on CRA's Taxpayer relief program
- Wednesday, 04 September 2013
There is quite a lot of information circulating regarding the Taxpayer relief program (previously termed “fairness provisions”). After 10 years of communicating with CRA on behalf of clients I hope to clear the air and highlight some of the common myths surrounding the program.
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