Did you know? The Canada Revenue Agency (CRA) is redesigning its external correspondence, including the PD7A, Statement of Account for Current Source Deductions for businesses, following an extensive evaluation completed in the fall of 2014. Focusing on how the notices are structured, designed, formatted, and written, the CRA has made changes to make the information …
If you are using the 2013 version of QuickBooks desktop software, it will continue to work after May 31, 2016, but support for add-on services and updates will no longer be available. The QB policy is to support the current QuickBooks desktop software, plus two versions back. For the full support policy, please visit our …
Online accounting technology is allowing many businesses and professionals to manage company data with increased efficiency! You can connect your bank statements and credit card statements to download directly into the software which promotes accuracy as well as convenience…..imagine… no more chasing down statements! Talk to me about the online technology that may enhance …
The most efficient way to keep your business expenses separate from your personal purchases is to allocate a credit card to be used only for business related costs. This could also decrease your data management and bookkeeping fees as it is much easier to reconcile expenses against revenues.
The deadline to file your income tax and benefit return is fast approaching. Most Canadian income tax and benefit returns for 2015 are due on April 30, 2016. However, as this date is a Saturday, the Canada Revenue Agency (CRA) will consider your return as filed on time and your payment to be made on …
Posted: April 19, 2016 By: Evelyn Jacks Posted in: Breaking News, Current Issue Top 15 List of types of income you should not report: TFSA withdrawals (neither income nor capital is taxable) Inheritance or gifts Life insurance policy benefits Lottery winnings Strike pay received from unions MLA (Member of the Legislative Assembly) and Municipal Officers Expense Allowances …
Don’t Report These Top Fifteen: Exempt Income Sources Read More »
Your child’s higher education is important to you, but you may not know how you’ll be able to afford it. Start your child’s education savings with free money from the Government of Canada. Apply for the Canada Learning Bond. If your child was born January 1, 2004 or after, and you qualify for the National …
Did you know? Most Canadian income tax and benefit returns for 2015 are due on April 30, 2016. However, as this date is a Saturday, the Canada Revenue Agency (CRA) will consider your return as filed on time and your payment to be made on time if the CRA receives your submission or it is …
Start getting your mail from the Canada Revenue Agency (CRA) online. It’s the fast, easy, and secure way to manage your correspondence! When you register for online mail, you’ll receive some correspondence such as your notice of assessment and benefit notices online, and we’ll stop sending you paper copies in the mail. To access your online mail, you …
Get your tax and benefit correspondence online—instead of in the mail! Read More »
The Government of Canada is switching to direct deposit for all payments that it issues. It is proposed that CRA will not longer issue cheques after April 2016. While there is a bit of “wiggle” room, we recommend that you get signed up in order to avoid delays in receiving funds from CRA. If you …