by Chris Hammond | Sep 11, 2017 | News
In a recent Technical Interpretation, CRA noted that an employer-provided per diem meal allowance will not be taxable where the following conditions are met: It must be a reasonable amount; The allowance is received to cover expenses while travelling away from the...
by Chris Hammond | Aug 29, 2017 | News
Have you wondered if you should incorporate your business? Historically the income tax system in Canada has benefited incorporated Canadian small businesses. Although the income and deduction calculations are almost identical to an unincorporated business, the major...
by Chris Hammond | Aug 16, 2017 | News
Tax Credits for Students: How College Students in Canada Can Save Common Deductions and Tax Credits for Students The most common tax credits for students, or deductions, are moving expenses and child care expenses. Moving Expenses You can deduct moving expenses if you...
by Chris Hammond | Aug 1, 2017 | News
Have you ever wondered how your personal assets would be affected should the CRA send you an advisory or audit for collections? Here are eleven tips that will help safeguard small business owner’s personal asset’s from CRA collections. Never use your home...
by Chris Hammond | Jul 21, 2017 | News
Every business owner should be concerned about creditor proofing his assets. Consider these suggestions: 1. Transfer assets out of the company: Place capital assets in a separate holding corporation so that subsequent legal claims that arise in the operating...
by Chris Hammond | Jun 14, 2017 | News
The Canada Pension Plan (CPP) is a contributory, earnings-related social insurance program. It ensures a measure of protection to a contributor and their family caused by the loss of income due to retirement, disability and death. There are three types of CPP...
