by BateMac | Mar 20, 2019 | Advice for Business Owners, Blog, General Tax Advice, Personal Tax Advice, Your Business Need
The 2019 Budget, the last budget prior to the federal election later this fall, was tabled on March 19, 2019. In comparison to recent Budgets, from a tax legislation perspective, it was like riding a slow carousel in the KidsZone after disembarking from an 80mph...
by BateMac | Mar 7, 2019 | Blog
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by Vinay Khosla, M.Acc., CPA, CA | Jan 8, 2019 | Blog
The Canada Revenue Agency (“CRA”) can assess penalties for any number of reasons, but two of the most common penalties assessed by the CRA that can be easily avoided are failure to file penalties and instalment penalties. A failure to file penalty is assessed for late...
by BateMac | Jan 4, 2019 | Advice for Business Owners, Blog, General Tax Advice
For new taxation years that begin on or after January 1, 2019, a new set of rules for refundable dividend tax on hand (RDTOH) balances apply to all Canadian controlled private corporations (CCPC). These rules could increase the tax costs to individuals when...
by BateMac | Jan 4, 2019 | Advice for Business Owners, Blog, General Tax Advice
The Employer Health Tax (EHT) is a payroll tax in Ontario that provides partial funding for the Ontario Health Insurance Plan. The EHT is applied where there is an employer-employee relationship and the employer pays the employee. Therefore, the EHT does not apply to...
by BateMac | Jan 4, 2019 | Advice for Business Owners, Blog, Personal Tax Advice
Effective January 1, 2019, contributions and benefits under CPP will both be increased. The contribution increase will be phased in over seven years. Effective January 1, 2019, the contribution rate on earnings below the Year’s Maximum Pensionable Earnings (YPME) will...
