CA Blog
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CEWS AUDITS ARE NOT FAR AWAY
CEWS, like other new government benefits programs have been created during the COVID-19 outbreak. The goal is clear. It is to provide qualified employers with financial assistance to hire back employees that were previously laid off due to the Pandemic and put...
Deducting employment expenses (shareholder/employee version)
Regularly working from home due to the COVID-19 pandemic has become a new norm. As a shareholder, you work extremely hard to ensure the business is on the right track. Also, you are one of the employees, who may incur employment expenses as well. So, what you need to...
Make your RRSP profitable again
It’s time for the reminder for all individuals who are eligible for making RRSP contribution. For 2019 taxation year, the deadline is March 2,2020. Here are a few strategies that help you understand the benefit of RRSP contribution. Strategy #1: Please make RRSP...
Gift cards are convenient but GST/HST has no fun!
Gift cards are convenient. They are more like prepaid cards and gain popularity from consumers and merchants. Do you know how HST/GST works around with gift cards? When companies sell gift certificates, according to sec.181.2 of the ETA, the sale is deemed not to be a...
Lessons learned from spot audits by law society
Running a law practice as either sole practitioners or in a small firm is challenging. There are a number of tasks on the list for lawyers to tackle from building/training the support team to handling spot audit from law society. Having helped many lawyers to overcome...
Ways in Financing Your Dream Business
help client secure financing successfully to achieve goals
From Financial Advisor’s perspective: how to overcome financial challenges
No matter who you are; a busy business owner, recently married couple, or a student who just landed your first dream job, you may come up with some challenging questions in your finance such as: Should I buy RRSP now or what should I invest in RRSP?Should I buy...
Investment in farmland – tax implications
Many financial advisors have said that investment in farmland may not be comparable to other real estate opportunities as the return is not as attractive as they are published. However, if you consider investment in farmland as an alternative in your investment...
小商业政府贷款,真的不用还吗？
小商业政府贷款计划，通常也被称为“政府担保贷款计划”。有些人认为贷款是有政府保证的，如果业务失败的话，银行可以向政府索赔，所以银行不会太关心项目的运作前景。这不就是天掉下来的馅饼吗？真的吗？我们在这方面来解释一下。 首先，小商业企业主往往与银行在贷款申请要求，贷款安全性和项目可行性等方面的认知存在差距。虽然是政府担保，但是银行也是利用其商业贷款的模式来管理，比如说， 银行采用与其他商业贷款类似的背景审查，尽职调查和谨慎贷款做法。所以，项目的运作前景以及个人的信用记录都会成为银行审查的一部分。...
Charge less rental and still claim a loss – please read on
Reporting income generated from the rental property seems straight forward. If your rental expenses are more than your gross rental income, then you will have a rental loss. Simple! The beautiful thing is, if you incur the expenses to earn income, you can deduct your...
申请贷款前该如何准备
许多小企业的老板对商业融资的过程都有一定的了解。当银行经理开始审核贷款申请时，他们对以下几个部分非常感兴趣：商业计划书 如何稳操胜券，必定从前期计划开始。对企业来说，因为商业计划书可以用于指定开展业务的许多关键方面，所以也是一个非常有效的工具。精心准备的商业计划书同时可以帮助银行经理或贷款方了解当前或未来的任何融资需求，并相应地为融资做准备。关键贷款比率 贷款里有三个比较关键比率。它们是流动比率，贷款有形净值和负债偿还率。还有另一个关键部分也会吸引贷款方的注意，这是您的个人信用评分。...
Guides on Business Financing
The process for securing business financing is quite common to many business owners. When bankers start reviewing the loan application, they are quite interested in a few items as follows: Business plan A business plan is an effective tool for businesses as it...
Saving tax starts from deferred income
Happy holidays to all! It’s time to relax, recharge and reflect. I initially planned to write some tax tips as a closing of 2018 like income splitting, passive income, etc. But, there are way too many articles talking about those changes and confusion happened in...
From Licensed Insolvency Trustee’s perspective : there is a solution when you are in financial crisis
Managing a business is never easy. Having some professional guidance along the way will definitely be a big help. Many people are familiar with the statistic that over 50% of businesses will fail in their first three years. The reality is that for some businesses,...
Guide on deductible business expense
When talking about the deductible business expense when running a business, business owners are sometimes confused. Today we are going to clarify the confusion. Generally speaking, any reasonable expenses you incur for the business to earn income are...
GST Know-how: when it is time to register for a GST/HST
No doubt, GST/HST once again. We are back to the basics. GST/HST is part of sales tax compliance programs that are monitored by the CRA. The basic question that many businesses would ask at the beginning when they start the businesses. When it is the time to register...
GST Know-how: what should be included on receipts
GST/HST again. Today we are going to talk about what information should be included on your invoices. Generally, when the GST/HST is being applied to the purchases, businesses need to let customers know their GST/HST number . Simply, businesses can use cash register...
The tax efficient way to make your donation: personal vs. corporate
To give is more than to receive. Making donations to a charity for good causes is always appreciated. When it comes to whether to make donations through corporation or personally, business owners are confused as it is not that straight/easy to understand. Sometimes it...
Top 3 things that you need to know in selling your franchise business
After a few years, you have put in significant amount of time and effort into the franchise business. At this moment, you know the inside-out of the operation and build strong relationship with customers. You may think about selling your franchise business. What are...
How to select a corporate year-end wisely
A lot of businesses don’t pay attention to the choice for a year-end for their incorporated businesses. What is the corporation's tax year? The corporation's tax year is also called its fiscal period. In simple terms, it is a cutoff. For newly incorporated business,...
Here are more resources created for our clients
Tax tips that you should not miss when filing your 2022 personal tax
Tax tips that put you in a comfort seat when filing your 2022 personal tax
2023 tax update
2023 tax update – Canada tax update for individuals
A Complete Guide for Developers and Builders
I am sure many people have been witnessing the rising price of real estate in the last few months. Why does the price keep going up? Government stimulus, low interest and as most middle class families invest the maximum amount of money in their homes. Some real estate...
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