by Chris Hammond | Nov 5, 2015 | News
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...
by Chris Hammond | Nov 5, 2015 | News
Parents quite often make loans to their adult children to help them purchase a car, a home, or for other reasons. A loan is different from a gift. The parent can charge interest so that the loan will earn some investment income. The loan can be set up for blended...
by Chris Hammond | Oct 9, 2015 | News
Tax Preparation, Bookkeeping & Payroll Services in the 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...
by Padgett Accounting | Mar 7, 2014 | News
Personal Tax Returns Processed by CRA Canadians file more than 26 million individual income tax and benefit returns each year, and all are electronically analyzed. Based on this analysis, CRA selects certain returns for review because they are high-risk. Other returns...
by Padgett Accounting | Oct 1, 2013 | News
In a 2013 Technical Interpretation, CRA wasquestioned about door prizes received by allattendees at a company social function.CRA commented that their tax-free $500 giftsand awards policy would apply to all attendeesincluding the employee, the employee’s spouse,and...
by Chris Hammond | Jun 13, 2013 | News
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...
