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Canadian Business Accounting and Tax Guides
Straight answers to tax, GST and HST, payroll, bookkeeping, incorporation, and provincial accounting questions, built from official Canadian sources. Each guide starts with a fast summary, then explains the rule, the business impact, and a practical next step.
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T1 vs T4 in Canada: What Is the Difference?
A T4 is the slip your employer issues. A T1 is the return you file with the CRA. Who prepares each, the deadlines that apply, and how the two connect.
How to Choose Accounting Software for a Canadian Small Business
Run the same sample transactions through each shortlisted package, confirm a full data export, and test GST/HST and payroll support before you commit.
20 Common Accounting Questions Canadian Small Business Owners Ask
Short answers to twenty recurring owner questions, from GST/HST registration at $30,000 to T2 due dates and the six year records rule.
When Are Corporate Taxes Due in Alberta? T2 Filing and Payment Deadlines
A T2 is generally due six months after year end, but the tax balance is generally due two months after, or three months for some eligible CCPCs.
What Is the Small Business Corporate Tax Rate in Alberta?
Alberta lists a 2% small business rate and the federal rate is 9%, so eligible income is commonly taxed at a nominal 11% and general income at 23%.
When Does an Alberta Business Need to Register for GST/HST?
Register for GST/HST once taxable sales pass $30,000 in one calendar quarter or over four consecutive quarters. Earlier voluntary registration is possible.
How Do GST/HST Returns and Input Tax Credits Work for Alberta Businesses?
A GST/HST return subtracts eligible input tax credits from tax collected, leaving an amount to remit or a refund. Each claim needs supporting documents.
How Do I Set Up Payroll for Employees in Calgary?
Open a CRA payroll program account, collect TD1 forms, then calculate and remit CPP, EI and income tax every pay run on the due date CRA assigns.
T4 Slips and Records of Employment: What Alberta Employers Need to Know
T4 slips and the T4 Summary are generally due the last day of February. An ROE is due soon after an interruption of earnings, on a pay cycle deadline.
Employee or Independent Contractor? How Canadian Businesses Should Decide
A contract label does not decide it: CRA weighs control, tools, subcontracting, financial risk and profit chance across the whole working relationship.
How Long Should a Canadian Business Keep Records and Receipts?
Keep business records for six years from the end of the last tax year they relate to, in a readable form. Some records must be kept longer.
Should I Incorporate My Business in Alberta? A Practical Starting Guide
Incorporating creates a legal entity separate from you, but it is not automatically a tax saving and it adds yearly legal, accounting and tax duties.
What Happens in a CRA Business Audit and How Should You Prepare?
An audit examines your books and records to check what you reported and claimed. Verify the contact, answer on time, and never alter records.
Payroll Services in Calgary: What Is Usually Included?
A payroll service usually covers pay calculations, remittances, records and year end T4s, but the employer still approves pay and answers to CRA.
Payroll Outsourcing vs In House Payroll for a Small Business
Neither model moves your legal duty for deductions, remittances and records. In house gives direct control; outsourcing adds depth and backup.
How to Choose a Payroll Provider in Canada
Test each provider on the same payroll scenarios and confirm who approves, who remits and how you export records. The employer stays responsible to CRA.
Payroll Source Deductions and Remittance Deadlines in Canada
CRA assigns your remitter type from average monthly withholding two years earlier, which sets quarterly, 15th of the next month or accelerated due dates.
2026 CPP, EI, and Payroll Deductions for Alberta Employers
For 2026, CPP is 5.95% up to $74,600, CPP2 is 4% from $74,600 to $85,000, and EI is 1.63% up to $68,900 for employees outside Quebec.
Taxable Benefits in Canadian Payroll: An Employer Guide
A benefit is taxable when the employee is the main beneficiary of a measurable advantage. Decide taxability, value it, set deductions, then report it.
GST Return Filing Checklist for Calgary Businesses
File a GST/HST return for every period, even with no sales; monthly and quarterly filers file and pay one month after period end. Reconcile before filing.
Late GST Return in Alberta: Penalties, Interest, and Next Steps
The late filing penalty is 1% of the amount owing plus 0.25% of it for each full month late, up to 12 months. File now even if you cannot pay in full.
GST/HST Place of Supply Rules for Alberta Businesses
An Alberta seller charges 5% GST only for supplies made in a non participating province. A delivery or customer address in an HST province can mean HST.
GST/HST for Nonprofits and Charities in Canada
A charity uses a special GST/HST net tax method; an NPO follows the regular rules and needs at least 40% government funding to claim the 50% rebate.
Business Valuation in Calgary: What Affects Value and Which Methods Are Used?
A business has no automatic value: purpose, valuation date, ownership rights and evidence all matter. Valuators weigh income, market and asset approaches.
Business Valuation Financial Records Checklist for Canadian Owners
Confirm the valuation purpose, date and interest first, then gather multi year statements tied to tax filings, source records, asset schedules and debt.
Shareholder Buyout in Alberta: A Financial Checklist Before You Agree on Price
A buyout price is not company value divided by shares: control, voting rights and buy sell terms change a holding's worth. Reconcile the numbers first.
Asset Sale vs Share Sale in Canada: Accounting and Tax Questions to Ask
An asset sale moves chosen assets and sets new tax values; a share sale moves the corporation and is generally outside GST/HST. Allocation matters most.
M&A Financial Due Diligence in Calgary: A Buyer and Seller Checklist
Financial due diligence tests whether a target's earnings, working capital, debt and forecasts match its records. Legal diligence is a separate workstream.
Divorce and Business Valuation in Alberta: A Financial Records Guide
Accounting records do not decide a family property matter. Set the purpose and valuation date, then build a financial package traceable to source records.
Medical Practice Accounting and Valuation Support in Alberta
An Alberta physician needs a CPSA professional corporation permit as well as corporate registration. Keep patient details out of practice schedules.
Asset Heavy Business Valuation in Canada: Records and Adjustments
Net book value, undepreciated capital cost and fair market value are three different numbers. Reconcile asset, inventory and debt records first.
Nonprofit Accounting and Charity Reporting in Alberta
A registered charity generally files Form T3010 within six months of its fiscal period end, separate from Alberta annual returns. Track each separately.
Bank Reconciliation Checklist for Calgary Businesses
Reconcile every bank, card, loan and processor account to the same cut off date, post missing entries, and list timing items rather than forcing zero.
Fractional CFO Services: What They Do and When a Calgary Business Needs One
A fractional CFO provides part time senior financial leadership, such as forecasts and financing support, and works best on timely, reconciled books.
How to Build a 13 Week Cash Flow Forecast for a Small Business
A 13 week forecast tracks expected cash in and out by week from a verified opening balance, and is updated every week against actual bank movement.
Bookkeeper vs Controller vs CFO: Which Level of Finance Support Does Your Business Need?
Bookkeepers keep transaction records current, controllers strengthen the close and controls, and CFO level work supports forecasts and major decisions.
What to Prepare for a Canadian T2 Corporate Tax Return
Gather the trial balance, reconciliations, tax account details, ownership records and asset support. The T2 is generally due six months after year end.
CRA Notice of Assessment or Reassessment for a Corporation: What to Review Next
Compare the notice with the filed T2 line by line. A corporation generally has 90 days from the notice date to file an objection.
CRA Taxpayer Relief: When Penalties or Interest May Be Cancelled or Waived
CRA may cancel or waive some penalties and interest after events beyond your control, but relief is discretionary and does not cancel the tax itself.
CRA Voluntary Disclosures Program: A Business Owner's Decision Guide
The VDP lets a taxpayer come forward to correct qualifying errors or omissions, with relief decided case by case. CRA changed the program in October 2025.
CRA Trust Accounts Examination: Payroll and GST/HST Records to Prepare
A trust accounts examination reviews payroll deductions and GST/HST collected. Reconcile each account to the ledger and bank before sending records.
Shareholder Loans and Personal Expenses Paid by a Corporation: What to Track
Record each shareholder transaction with date, purpose and evidence; a personal expense paid by the company can raise benefit, dividend or loan issues.
Sole Proprietorship vs Corporation in Alberta: A Practical Decision Guide
A corporation is legally separate from its owner and files its own T2; a sole proprietorship is not. Incorporating does not automatically cut tax.
What Is a Compilation Engagement in Canada, and When Is One Needed?
A compilation under CSRS 4200 helps management present financial information with no assurance, so it is neither an audit nor a review.
When Does a Canadian Corporation Have to Pay Tax Instalments?
Corporations generally pay tax by monthly instalments once tax payable passes the CRA threshold, so interest can apply even if the T2 is filed on time.
What Happens If a Corporation Files Its T2 Tax Return Late?
The late filing penalty is 5 per cent of unpaid tax plus 1 per cent for each full month late, up to 12 months, and interest runs separately.
Salary vs Dividends in Canada: How Should a Corporation Pay Its Owner?
Salary is deductible and builds RRSP room and CPP; dividends come from after tax income and generally build neither. The best mix depends on your facts.
What Is a Personal Services Business, and Why Does CRA Care?
A corporation can be a personal services business if its worker would reasonably be the client's employee; that income loses the small business deduction.
When Does a Canadian Business Owner Need a Holding Company?
A holding company is not required. It can separate surplus cash and risk, but it adds cost, and association and passive income rules still apply.
How Should a Corporation Choose or Change Its Fiscal Year End?
A new corporation picks its first year end on its first T2, and changing it later generally needs CRA approval. The T2 is due six months after year end.
How Does a Section 85 Rollover Work in a Corporate Reorganization?
A section 85 election lets a taxpayer move property into a taxable Canadian corporation at an agreed amount and defer tax, if the steps and filing align.
How Can Passive Investment Income Reduce a Corporation's Small Business Limit?
The $500,000 federal small business limit shrinks once the associated group's adjusted aggregate investment income passes $50,000, and is gone at $150,000.
What Is a Capital Dividend Account, and How Can a Corporation Use It?
The CDA is a tax balance, not cash. A private corporation can elect a capital dividend up to it, generally tax free to Canadian resident shareholders.
Accounting and Tax Guide for Toronto Businesses
Toronto businesses should first separate revenue by channel, reconcile deposits to gross sales and record the province of each material sale for HST.
Accounting and Tax Guide for Montréal Businesses
Montréal owners should first confirm which agency, the CRA or Revenu Québec, administers each account, then keep GST and QST control accounts apart.
Accounting and Tax Guide for Vancouver Businesses
GST and British Columbia PST are separate taxes, so Vancouver businesses should classify what they sell and buy and keep destination evidence.
Accounting and Tax Guide for Ottawa and Gatineau Businesses
Ottawa and Gatineau businesses should first tag revenue, employees and establishments by province, because HST and QST depend on where supplies are made.
Accounting and Tax Guide for Calgary Businesses
Calgary corporations need Alberta corporate filings, GST, payroll and owner transactions on one calendar. Alberta has no general provincial sales tax.
Accounting and Tax Guide for Edmonton Businesses
Edmonton owners running several jobs should track costs by project, in detail that still reconciles to the bank, GST return and payroll records.
Accounting and Tax Guide for Québec City Businesses
Québec City businesses should first build a bilingual filing calendar by agency, keeping GST and QST schedules separate and notices with their period.
Accounting and Tax Guide for Winnipeg Businesses
Winnipeg businesses should first code invoices and purchases for tax treatment and keep Manitoba RST and GST in separate accounts.
Accounting and Tax Guide for Hamilton Businesses
Hamilton businesses should use stable inventory and job cost categories, so margin changes reflect operations, and book equipment apart from repairs.
Accounting and Tax Guide for Kitchener Waterloo Businesses
Kitchener Waterloo companies should document the purpose of each project while work is current and keep grants and financing apart from revenue.
Accounting and Tax Guide for London Businesses
London service firms should compare work performed with amounts billed and cash collected, and review unbilled work and receivables each month end.
Accounting and Tax Guide for Halifax Businesses
Halifax businesses should confirm the HST rate for each reporting period, then build HST, payroll and corporate tax dates into a seasonal cash forecast.
Accounting and Tax Guide for St. Catharines and Niagara Businesses
In St. Catharines and Niagara, reconcile daily sales to bank deposits first, then document how foreign currency and gratuities are recorded.
Accounting and Tax Guide for Windsor Businesses
Windsor businesses trading across the border should record each sale in its original currency, with a documented exchange rate method and customs support.
Accounting and Tax Guide for Oshawa Businesses
Oshawa trades and project businesses should use one job code from estimate to collection and keep equipment separate from supplies.
Accounting and Tax Guide for Victoria Businesses
Victoria businesses should review the British Columbia PST treatment of what they sell and buy, including software, and keep customer location evidence.
Accounting and Tax Guide for Saskatoon Businesses
Saskatoon businesses should first confirm Saskatchewan PST registration, record tax paid or self assessed, and cost projects and equipment consistently.
Accounting and Tax Guide for Regina Businesses
Regina businesses should first list every federal and Saskatchewan PST account with its reporting period, due date and the person responsible.
Accounting and Tax Guide for Sherbrooke Businesses
Sherbrooke businesses should organize documents by agency and period, keeping CRA and Revenu Québec notices and GST and QST balances apart.
Accounting and Tax Guide for Kelowna Businesses
Kelowna businesses should first separate deposits from earned revenue and review British Columbia PST treatment by product or service.
Alberta Business Tax Rates for 2026
Alberta's combined small business rate is 11% and it has no PST or payroll tax. A corporation also files a separate AT1 return with the province.
British Columbia Business Tax Rates for 2026
British Columbia charges 7% PST beside 5% GST, and its combined small business rate is 11%. The employer health tax starts above $1,000,000 of payroll.
Saskatchewan Business Tax Rates for 2026
Saskatchewan's 1% small business rate covers the first $600,000, past the federal $500,000 limit. PST is 6%, filed with the province, not the CRA.
Manitoba Business Tax Rates for 2026
Manitoba charges no provincial tax on the first $500,000 of small business income, so the combined rate is 9%. RST is 7%, filed with Manitoba Finance.
Ontario Business Tax Rates for 2026
Ontario's small business rate fell to 2.2% on July 1, 2026, making the combined rate 11.2%, prorated by days for a year that straddles it. HST is 13%.
Quebec Business Tax Rates for 2026
Quebec's small business rate is 2.2% (11.2% combined) for tax years beginning after April 29, 2026, with the full deduction. Corporations file a CO-17.
New Brunswick Business Tax Rates for 2026
New Brunswick charges 2.5% on small business income, 11.5% combined, and 15% HST filed with the CRA. There is no provincial payroll tax.
Nova Scotia Business Tax Rates for 2026
Nova Scotia applies its 1.5% small business rate to the first $700,000, the highest provincial limit in Canada. HST has been 14% since April 1, 2025.
Prince Edward Island Business Tax Rates for 2026
Prince Edward Island's 1% small business rate covers $600,000, and its 15% general rate ties Newfoundland and Labrador as Canada's highest. HST is 15%.
Newfoundland and Labrador Business Tax Rates for 2026
Newfoundland and Labrador cut its small business rate to 2% on January 1, 2026, 11% combined. HST is 15%, and the payroll tax starts above $2,000,000.
Yukon Business Tax Rates for 2026
Yukon charges no territorial tax on the first $500,000 of small business income, so the combined rate is 9%. Other income pays 12%, and there is GST only.
Northwest Territories Business Tax Rates for 2026
The Northwest Territories charge 2% on small business income, 11% combined, and 11.5% on other income. GST is the only sales tax, with a 2% payroll tax.
Nunavut Business Tax Rates for 2026
Nunavut's 3% small business rate is the highest in the territories, 12% combined. GST is the only sales tax, and a 2% payroll tax follows the work.
CRA Mileage Rate for 2026
The 2026 CRA car allowance limit is 73¢ per kilometre for the first 5,000 km and 67¢ after, plus the vehicle benefit rate and the vehicle limits.
Federal Tax Brackets for 2026
Federal income tax for 2026 runs from 14% on the first $58,523 to 33% above $258,482, in five brackets. The basic personal amount is up to $16,452.
Corporate Tax Rates by Province for 2026
Combined federal and provincial tax on small business income runs from 9% to 12% in 2026, and on other income from 23% to 30%, depending on the province.
RRSP Deadline and Contribution Limit for 2026
The RRSP deadline for 2026 is March 1, 2027 and the 2026 limit is $33,810. How your own limit is worked out, and why dividends do not add to it.
TFSA Contribution Limit for 2026
The 2026 TFSA limit is $7,000. Every annual limit since 2009, how unused room and withdrawals carry forward, and the $109,000 total.
Tax Filing Deadline for 2026 Returns
2026 personal returns are due April 30, 2027, or June 15, 2027 if self employed, with any balance due April 30, 2027. The late filing penalty explained.
CRA Prescribed Interest Rates for October to December 2026
CRA interest rates from October 1, 2026 to December 31, 2026: 7% on overdue tax, 3% for loan benefits, and what each rate is used for.
Dividend Gross Up and Tax Credit Rates for 2026
Eligible dividends are grossed up 38% with a 15.02% federal credit on the grossed up amount; other dividends, 15% and 9.03%. Example on $10,000 of each.
When Your GST/HST Return Is Due
GST/HST returns are due one month after a monthly or quarterly period ends and three months after an annual year end. Sole proprietors file by June 15.
T4, T4A and T5 Slip Deadline for 2026
2026 T4, T4A and T5 slips are due March 1, 2027, because the last day of February is a Sunday. Other slip deadlines and the late filing penalty tables.
Personal Tax Instalment Dates for 2027
Personal tax instalments are due March 15, June 15, September 15, December 15 in 2027. Who has to pay them, the next date, and how to work out the amount.
Capital Cost Allowance Classes and Rates
Most furniture and equipment is Class 8 at 20% a year. Rates run from 4% for buildings to 100% for small tools. Passenger vehicles are capped at $39,000.
Form T2125 Explained: Reporting Self Employed Income
Form T2125 reports a sole proprietor's business or professional income. What each part covers, the lines that matter most, and the June 15, 2027 deadline.
Form T776 Explained: Reporting Rental Income
Form T776 reports rental income and expenses on a personal return. The lines that matter, the capital cost allowance rule, and the April 30, 2027 deadline.
The T2 Corporation Income Tax Return Explained
Every resident corporation files a T2 within six months of year end, even with no tax owing. The common schedules and the earlier payment date.
The T4 Slip Explained, Box by Box
Employers file 2026 T4 slips by March 1, 2027 and give employees a copy. Box 14 is employment income and boxes 16 to 22 show what was withheld.
The GST/HST Return Explained, Line by Line
The GST/HST return nets tax collected against input tax credits to give net tax on line 109. Monthly and quarterly filers have one month after the period.
The T5 Slip Explained: Dividends and Interest
A T5 slip reports dividends and interest paid to residents of Canada. A corporation issues one for payments of $50 or more, due March 1, 2027 for 2026.
The T4A Slip Explained: Pensions, Fees and Other Income
A T4A slip is needed when payments to someone pass $500 in the year or tax was withheld. Fees for services go in box 048, due March 1, 2027 for 2026.
The T5018 Slip Explained: Construction Subcontractor Payments
Businesses whose main activity is construction file a T5018 for each subcontractor paid over $500, due six months after the reporting period ends.
Form T2200 Explained: Declaration of Conditions of Employment
Form T2200 lets an employee deduct work expenses. Who signs it, what each question covers, the home work space test and why it is kept, not filed.
Form T777 Explained: Claiming Employment Expenses
Form T777 totals an employee's deductible work expenses for line 22900. What can be claimed, the home work space rules and the 50% meal limit.
Form T1135 Explained: Reporting Foreign Property
A Canadian resident files Form T1135 when specified foreign property cost over $100,000 at any time in the year. Simplified or detailed reporting applies.
Form AUT-01 Explained: Authorizing a Representative
Form AUT-01 lets an accountant deal with the CRA for you by phone or mail. What it replaced, the two access levels, and when online access is better.
Form TD1 Explained: Personal Tax Credits for Payroll
Form TD1 tells an employer how much tax to withhold. When employees fill it out, the $16,452 basic personal amount, second jobs and the provincial form.
Form RC1 Explained: Getting a Business Number
A new business number and program accounts are registered online through a CRA account. Paper Form RC1 is for those who cannot and takes 30 days or more.
Form T2057 Explained: The Section 85 Rollover
Form T2057 lets you move property into a corporation without immediate tax. How the agreed amount works, the filing deadline and the late filing penalty.
Form T2054 Explained: Electing a Capital Dividend
Form T2054 makes a dividend from the capital dividend account tax free to shareholders. When it is due, what to attach, Part III tax and the late penalty.
Form T106 Explained: Transactions With Related Non Residents
Form T106 reports dealings with related non residents once they pass $1,000,000 a year. Who files, what goes on each slip, due dates and penalties.
The NR4 Slip Explained: Paying Non Residents
A Canadian payer withholds 25% Part XIII tax on dividends, rents and royalties paid to non residents unless a treaty lowers it, and remits it by the 15th.
The T5013 Partnership Information Return Explained
A partnership files a T5013 return when revenue plus expenses pass $2 million or assets pass $5 million, or a corporation or trust is a partner.
Form T1044 Explained: The Non Profit Information Return
Form T1044 is the information return for non profit organizations. The $10,000 and $200,000 tests, the deadline six months after year end, and penalties.
Form T1-ADJ Explained: Changing a Filed Tax Return
Wait for the notice of assessment, then change a filed return online or with Form T1-ADJ. Online takes about two weeks; paper takes 19 weeks or more.
Form RC4288 Explained: Asking the CRA to Cancel Penalties
Form RC4288 asks the CRA to cancel or waive penalties and interest. The circumstances that qualify, the 10 year limit, documents to include and next steps.
Form T661 Explained: Claiming SR&ED Tax Credits
Form T661 claims SR&ED deductions and credits, due 18 months after a corporation's year end. The 35% credit covers CCPCs and eligible public corporations.
Form T183 Explained: Authorizing Your Preparer to File
Form T183 authorizes a tax preparer to file your return electronically. What each part means, why it is signed before filing, and the corporate T183CORP.
Form T2091(IND) Explained: Designating a Principal Residence
Selling your home means reporting it and designating it as your principal residence. Schedule 3, Form T2091(IND), the plus one rule and flipped properties.
What Is a CCPC? Canadian Controlled Private Corporations Explained
A CCPC is a private corporation resident in Canada that non residents and public companies do not control. The tests, the tax benefits and how it is lost.
Associated Corporations Explained: Sharing One Small Business Limit
Associated corporations share one $500,000 small business limit. The six tests, how family members and minor children count, and how Schedule 23 splits it.
TOSI Explained: How the Tax on Split Income Works in Canada
Tax on split income charges certain family business income at the top rate. Who it applies to, the exclusions by age, and how excluded shares work.
Capital Gains Tax in Canada: How Gains Are Calculated and Taxed
Only half of a capital gain is taxed in Canada. How to calculate the gain, when losses can be used, the five year reserve, and the main exemptions.
Adjusted Cost Base Explained: Working Out the Cost of What You Sell
Adjusted cost base is the tax cost of a property. What goes into it, how to average identical shares and fund units, and the events that raise or lower it.
GST, HST, PST and QST Explained: How Sales Tax Works in Canada
GST is 5% everywhere in Canada. Five provinces use HST. BC and Saskatchewan add PST, Manitoba adds RST, and Quebec's QST is filed with GST.
Zero Rated vs Exempt Supplies: The GST/HST Difference That Matters
Zero rated and exempt supplies both reach customers without GST/HST, but only zero rated sellers recover the tax on their costs. Examples and registration.
Accrual vs Cash Accounting: Which Method Canadian Businesses Must Use
Most Canadian businesses must report income on the accrual method. How accrual and cash accounting differ, who may use cash, and how to change methods.
Chart of Accounts Explained: Setting Up Accounts That Match Your Tax Return
A chart of accounts is the list of accounts a business records into. How to structure one around the CRA's GIFI codes so year end and the T2 come together.
Accounts Payable vs Accounts Receivable: What Each Means for Tax and Cash
Accounts receivable is what customers owe you; accounts payable is what you owe suppliers. How each affects income tax, GST/HST and bad debts in Canada.
Deferred Revenue Explained: Money Received Before It Is Earned
Deferred revenue is money received before the work is done. How it is recorded, when it is taxed, the reserve, and GST on deposits and gift cards.
Capital vs Current Expenses: What You Deduct Now and What You Depreciate
A current expense is deducted in full in the year; a capital expense is claimed through capital cost allowance. How the CRA tells them apart.
Notice of Objection Explained: How to Dispute a CRA Assessment
A notice of objection is the formal way to dispute a CRA assessment. Deadlines for individuals and corporations, how to file, extensions, and collection.
Arbitrary Assessment Explained: When the CRA Estimates Your Tax
When a required return is not filed, the CRA can assess the tax itself under subsection 152(7). What it leaves out, why it runs high, and how to fix it.
Director Liability in Canada: When Directors Pay a Corporation's CRA Debts
Directors can be liable for a corporation's unremitted payroll deductions and GST/HST. When the CRA can assess them, the two year limit, and due diligence.
Trucking Taxes in Canada: Meals, Trucks and GST for Drivers and Owner Operators
Long haul drivers deduct 80% of meals, not 50%. Employed drivers use Form TL2, heavy trucks are Class 16, and owner operators register for GST at $30,000.
Construction Contractor Taxes in Canada: Holdbacks, T5018 and GST
A construction holdback has no GST/HST due until it is paid out or required to be, and is income later than the billing. Subcontractors get T5018 slips.
Tax Deductions for Tradespeople in Canada: Tools, Apprentices and Travel
Employed tradespeople can deduct tools, apprentice mechanics get an extra claim, and construction workers who relocate can deduct travel and lodging.
Real Estate Agent Taxes in Canada: Commissions, GST and Expenses
Self employed agents report commissions on Form T2125 and register for GST/HST once taxable commissions pass $30,000 in a quarter or over four quarters.
Restaurant Taxes in Canada: Tips, GST on Food and Kitchen Equipment
Controlled tips carry CPP and EI, direct tips do not. Restaurant meals carry GST while basic groceries are zero rated, and food sold is fully deductible.
Rideshare and Taxi Driver Taxes in Canada: GST From the First Fare
Rideshare and taxi drivers must register for GST/HST from their first fare, unlike delivery drivers. Vehicle costs and platform reporting.
Freelancer and Consultant Taxes in Canada: What Self Employed Professionals Owe
Freelancers report income on Form T2125, pay both halves of CPP, register for GST/HST above $30,000 and pay instalments once tax owing passes $3,000.
Taxes for Doctors and Dentists in Canada: GST and Professional Corporations
Medical and dental care is GST exempt, so the tax on costs is not recovered. How professional corporations are taxed, and why TOSI limits paying family.
Online Seller Taxes in Canada: Income, GST and Platform Reporting
Online selling is business income. Register for GST/HST once taxable sales pass $30,000 in a quarter or over four quarters, marketplace sales included.
Farming Taxes in Canada: Cash Method, Losses and GST on Farm Products
Farmers may report on the cash method, adjust for inventory, carry losses back three years or forward twenty, and sell most farm products zero rated.
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