Author: admin

Advertising (in Canadian newspapers, On Canadian TV, and / or Canadian Radio The entire expense is deductible if your advertising is directed to a Canadian market and the original editorial content is 80 per cent or more of a periodical’s non-advertising content. Deduction is capped at 50 per cent if your advertising is directed to […]

Determine if you have small business/self-employment income that must be reported on a schedule T2125. Create a profit and loss statement for the year (or since you started your business) by using a spreadsheet or an accounting software. Either use tax software to add the T2125 statement of business activities to your tax return or […]

There are more than 30 tax measures are set out in the Liberal Party’s 2021 campaign platform. Some of them, already announced but most are new. The Summary of the government’s plans as set out in campaign is as under: COVID-19 support and economic recovery Tax measures for businesses Tax measures for individuals International measures […]

Please make sure you have all your income records and receipts you need prior to move towards your taxes: Information Slips T4 (Employment income) T4E (Employment insurance benefits) T4A (COVID-19 relief payments) T3, T5, T5008 (Interest, dividends, mutual funds) T2202 (Tuition and Enrolment Certificate) T4A-OAS, T4AP (Old Age Security and CPP benefits) T4A (Other pensions […]

Hi All, The start of the New Year, for a number of people, was a bit hushed this year. COVID-19 related restrictions put a shrinkage on most celebrations. It was maybe even more difficult as we seemed to be crawling back towards normal life and once again, we inverted route unfortunately. We can only wish […]

STARTING WORK AS AN UBER DRIVER If you are thinking about to start work as an Uber driver then you should need to know a bit about the basic concept of this Gig economy, and income tax laws: As an Uber driver, you are considering as a self-employed independent contractor for the Canadian income tax […]