by Chris Hammond | Jan 27, 2016 | News
Tax System Indexation On January 1, 2016, all indexed personal income tax amounts, including tax bracket thresholds and amounts used to calculate non-refundable tax credits, were adjusted by 1.3%. The Canada Child Tax Benefit and the goods and services tax credit will...
by Chris Hammond | Dec 29, 2015 | News
When Do You Have to Remit GST/HST on the Benefits and Allowances? Did you know that GST/HST must be remitted on a taxable benefit unless the benefit is tax exempt or zero-rated, for example the benefit on low-interest loans? An example of a tax benefit that is not...
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...
