Canada Emergency Wage Subsidy for Covid-19 Common Questions
The federal government of Canada has announced a 75% wage subsidy for employers. The purpose of this is to support businesses of all sizes to either re-hire laid-off workers...
Voluntary Disclosure Program (VDP) in Canada – Come Clean with Taxman
Did you forget to include income in your tax return or did not report it at all?
You may have underreported your income or missed to report foreign assets, you are liable for...
Canada Emergency Response Benefit CERB – Common Questions
COVID-19 is spreading its grasp all over the world. Like other governments, the Canadian government has also stepped in to check the adverse impact of the disease. The...
Rental Income from Associated Corporations as Active Business Income
Rental income earned by a corporation is considered as property income – investment income.
Active business income of Canadian controlled private corporations (CCPC) is...
Earning Investment income in a CCPC and Refundable tax
What is the investment income of CCPC?
Investment income includes income from property such as rental income, interest income, dividends, and royalties. Rental income can be...
Income Tax Tips for Freelancers in Canada
Freelancing, full time or as a side-gig, is a very attractive way for people to generate income for themselves. With a lot of freelancing websites such as Fiverr and Upwork,...
Reporting Online Trading on Personal Income Tax Returns in Canada
If you are generating gains or losses from the sale of securities, this is most likely to be treated as Capital gains. However, in certain cases, this might be treated as...
Covid-19 and Tax Filing Deadlines in Canada
Canada Tax Filing and Payment Extensions amidst Covid-19
This post is not being updated anymore. Please visit our page income tax services during Covid-19.
Updated on July...
How to report foreign rental income in Canada
In recent days, we have received a couple of inquiries from our blog subscribers and readers about the foreign rental income of Canadian residents. This post is for general...
How is foreign inherited property taxed in Canada?
Canada is a country having vast immigrant population. Every year new immigrants come to Canada and gradually achieve their immigration status as permanent residents and...
How to Write an Executive Summary for Your Business Plan
An executive summary is a must for your business plan. In fact, it’s what your business plan begins with, capturing the essence of your business concisely. It highlights...
How to write market section of a business plan?
When you are writing your business plan for a startup or an established business, you need to be clear about your audience. Who are you selling it to? Who are your ideal...