Wills and the Executor

Wills and the Executor

A will specifies your instructions as to how your assets will be distributed on your death. In the will, you name an executor to act as your personal representative and to deal with all the tax, investment, administrative, and other duties involved in distributing and overseeing your assets as per your instructions. Read more

Padgett Westshore Office

Top Accountants in Westshore, BC

Tax Preparation, Bookkeeping and Payroll Services in Westshore, BC

Padgett Business Services at the corner of Sooke and Kelly road (more on Kelly) is your local, young and fun place to have your accounting, payroll and tax needs met.  As you can see from our picture above, we love what we do and care about the clients we work with. Read more

Door Prizes at Company Functions

In a 2013 Technical Interpretation, CRA was
questioned about door prizes received by all
attendees at a company social function.
CRA commented that their tax-free $500 gifts
and awards policy would apply to all attendees
including the employee, the employee’s spouse,
and all other non-arm’s length individuals that
received a gift. Read more

Corporate Directors Liability

If a corporation (including a for-profit or nonprofit corporation) fails to deduct, withhold, remit or pay amounts held in trust for the Receiver General for Canada (CPP, EI and GST/HST), the directors of the corporation at the time may be held personally liable along with the corporation to pay the amount due. This amount includes penalties and interest. Read more