Everything You Need to Know About Goods and Services Tax (GST) in Canada
From major retailers and service providers to contractors and gig-economy side-hustlers, organizations that carry on taxable business in Canada are required to charge, collect and remit the Canadian Goods and Services Tax (GST) and/or the Harmonized Sales Tax in their...
Understanding the CRA Notice of Assessment: What It Means For You
After hours of gathering receipts, making calculations, going through checklists and stressing out about getting your taxes filed correctly and on time, you finally receive a response from the Canada Revenue Agency (CRA) on whether they agree with your calculations or...
How to Prepare and File a Corporate Tax Return
Even if they do not owe taxes, all Canadian corporations, including non-profit organizations, tax-exempt businesses, and inactive corporations, must submit a T2 form for each tax year, i.e., they must file a tax return within six months of the end of their tax year....
Capital Gains Tax: What is it and How to Avoid It
Unfortunately, when you invest in property that generates income as part of your financial planning, paying taxes to the Canada Revenue Agency (CRA) is part of the expense. This is especially true for capital property in Canada The best way to reduce your overall tax...
