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We attempt to assist our readers by simplifying some of the complex income tax issues in Canada. Occasionally, we answer the general tax questions as well that can help a broader readership of our blog section.
INSIGHTS
How to take advantage of COVID-19 situation – a Positive Perspective
How Small Businesses and Entrepreneurs can take advantage of COVID-19 situation – a Positive Perspective There is no doubt about the economic damage inflicted by COVID-19. It has wiped out the savings and growths in
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 or to not lay-off workers due
Voluntary Disclosure Program (VDP) in Canada – Come Clean with Taxman
You can come clean with the Taxman in Canada using VDP whether the non compliance was intentional or unintentional.
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 government came up with the Canada Emergency
Rental Income from Associated Corporations as Active Business Income
Rental income earned by a corporation is considered property income i.e. aggregate investment income. Active business income of Canadian-controlled private corporations (CCPC) is subject to preferential tax treatment due to the small business deduction. Earning
Earning Investment income in a CCPC and Refundable tax
Earning investment income in CCPC can affect Small business deduction and QSBC Status of a Canadian Corporation.