November 9, 2021


RRSP designations A May 10, 2021 CBC article demonstrated the importance of reviewing RRSP beneficiary designations. The article discussed the unfortunate cascade of events where, in […]
September 28, 2021

CRA COLLECTIONS: Potential Impact on Business

As some businesses struggle with cash flow, they may be motivated to prioritize suppliers and other creditors ahead of CRA. A recent court case demonstrates CRA’s […]
February 11, 2021

Personal Tax Filing Again! What’s NEW!

For many of us, it seems like yesterday that we just filed our 2019 tax returns due to the extended filing and tax payment deadline last […]
September 22, 2020

Canadian Emergency Wage Subsidy (CEWS) – UPDATE

If you still have questions about the Canadian Emergency Wage Subsidy (CEWS) – you’re not alone. We’ve scratched our heads a few times too! For the […]
August 19, 2020

HEADS UP – CEWS Eligibility Has Been Expanded!

As we mentioned in our July blog, the Canadian government recently extended the CEWS subsidy program until December 19, 2020. Along with the extension, they have […]
July 29, 2020

Income Tax Payment Deadlines Extended AGAIN!

The New Payment Deadline is now September 30, 2020! The CRA initially extended the payment deadlines for individual, corporate and trust income tax returns to September […]
July 22, 2020

Canadian Emergency Wage Subsidy (CEWS) – Further Extension Announced

The Canadian government has announced an extension to the CEWS subsidy. Eligible employers will now be able to claim this subsidy until December 19, 2020. We […]
July 8, 2020

COVID-19 Home Office Expenses – What You Need to Know

COVID-19 has resulted in many learning curves for 2020. For example, some of us are working from home for the first time. So, it’s not surprising […]
June 2, 2020

Finding Your Money in Unexpected Places

Most of us are guilty of shoving cash in our pant’s pockets, purses or jackets and then totally forgetting about it. Then, one day we put […]
April 21, 2020

COVID-19 Updates to Important Subsidy Programs

“75%” Canada Emergency Wage Subsidy (CEWS) The Federal government has passed into law the Canada Emergency Wage Subsidy (CEWS) as well as the 10% Temporary Wage […]
April 9, 2020

COVID-19 Support for Canadian Businesses -April 8, 2020 “75%” CEWS Update and More

Canadian Emergency Wage Subsidy (CEWS) On April 1, 2020 the government provided details on the 12-week wage subsidy. The subsidy is 75% of annual employee salary, […]
April 2, 2020

COVID-19 Support for Canadian Businesses

Our understanding of the most important provision of the current relief programs is summarized below.  This information is currently as of April 1, 2020 only. Canadian […]
February 11, 2020

Tax Season – Overcome Stress by Being Perpared!

Yes, it’s tax season – AGAIN. Navigating the sea of life’s daily stresses can be challenging enough. What can help us cope with the added challenge […]
January 21, 2020

Curb the Clutter Crisis – Start Housekeeping Now!

Regular housekeeping is good for us mentally, physically and emotionally – especially when managing our personal tax paperwork. How so? Well, suppose you got a notice […]
December 9, 2019

Tax Loss Selling – Turn a Loss Into a tax Win!

When it comes to investing let’s face it, you win some, you lose some. While capital gains are always the goal, sometimes selling shares incurs a […]
August 20, 2019

Cloud-Based Payroll Apps – TO THE RESCUE!

We all enjoy getting paid. However, the process to ensure everyone gets paid accurately and on time can be a challenge. If payroll is part of […]
July 30, 2019

Goodbye “Old School” Data Entry – Hello Hubdoc!

Are you up to your eyeballs keeping track of receipts, invoices and bank statements? Business owners know that the CRA requires these supporting documents to be […]
May 21, 2019

Should You Steer Clear of Company Owned Vehicles?

It depends on how much business driving you do. In cases where business use is minimal, a company owned vehicle is simply a tax nightmare. The […]
February 7, 2019

Seniors – The Good, The Bad, and The Blogs

So, you’ve finally entered your “golden years”. It’s a time to enjoy the perks of turning 65 – senior’s days, passes and discounts. You now have […]
December 18, 2018

CRA – The Dark Side

Is it really surprising that many fall victim to fake CRA collection calls? You know,the ones demanding payment or the CRA will either arrest you or […]
November 14, 2018

Bookkeeping – Working Smart

Bookkeeping is not just entering transactions, reconciling your bank statement and saying, “I’m done!” Bookkeeping lays the foundation for everything that is extracted from your financial […]
October 17, 2018

TFSAs – Do You Have Room?

In November 2016, we blogged about Tax Free Savings Accounts. Since inception, CRA has been auditing TFSA accounts and this has resulted in penalties to taxpayers […]
February 14, 2018

Tax Credit Changes – 2017

CRA giveth and CRA taketh away. Actually, more “taketh” than anything! As you run around getting all your tax slips in order, we wanted you to […]
November 8, 2017

Registered Education Savings Plan (RESP): Withdrawals

So, you did your homework and started a RESP for your child. Bravo! However, now junior is grown up and ready to go off to University […]
May 16, 2017

Disability Tax Credit – Are You Eligible?

How do you know if you are eligible for the disability tax credit (DTC)? CRA’s website has a tool available where you can review some questions […]
March 27, 2017

2017 Federal Budget Commentary

The Federal Government’s 2017–18 Budget gives Canadians a taste of what they might expect over the next couple of years: attempted efficiencies, closed tax loopholes, steady […]
February 28, 2017

Registered Education Savings Plans (RESPs)

What is it? A Registered Education Savings Plan (RESP) is a special investment account that helps families plan for post-secondary education funding, and provides future tax-saving […]
February 7, 2017

RRSP Season For The 2016 Taxation Year is Ending Soon!

A Registered Retirement Savings Plan (RRSP) is a personal savings account registered with Canada Revenue Agency (CRA) to help you save for retirement and reduce your […]
January 3, 2017

Principal Residence Exemption

The Latest Principal Residence Exemption Rule Affects Every Canadian Homeowner You’ve sold your home and there’s lots of financial matters on your mind – legal fees, […]
November 16, 2016

Tax Free Savings Accounts (TFSA)

The Tax Free Savings Account (TFSA) is a savings account that allows any individual over the age of 18 and who has a valid Canadian SIN […]
September 22, 2016

CRA Website – Roadmap for Electronic Payments

Whether it is for personal taxes or business taxes, parting with your hard earned money is painful enough without the process being more complicated than it […]
April 3, 2013

Obtaining Online Access to Accounts at Canada Revenue

Something that has become popular in the past few years and we would certainly recommend, is obtaining online access to all the information held by CRA […]
March 8, 2013

Mandatory Requirements For Efiling Personal & Corporate Tax Returns

Starting in January 2013, CRA requires tax returns to be filed electronically. This applies to both T1 individual income tax returns and T2 corporation income tax […]