The Tax Controversy: John Tavares vs. Canada Revenue Agency
In what is turning out to be a landmark legal battle, John Tavares, captain of the Toronto Maple Leafs, has taken the Canada Revenue Agency (CRA) to court over a … Read more
CPA4IT Professional Corporation
What Are The Benefits Of Incorporating My Business?
Incorporation is the legal process that transforms a business into a distinct legal entity, separate from its owners. The transformation grants your business its own rights, separate from your personal … Read more
Canada Revenue Agency’s SimpleFile Program Expansion
Introduction to SimpleFile Expansion The Canada Revenue Agency (CRA) recently announced a significant expansion of its SimpleFile service, designed to simplify the tax filing process for Canadians with no prior … Read more
PBO: Capital Gains Tax Revenue Below Government Projections
Falling Short of Projections The latest report from the Parliamentary Budget Officer (PBO) reveals a significant shortfall in the expected revenue from the recent increase in capital gains tax implemented … Read more
Top 10 Strategies to reduce PSC risk
1. Strong, Clear and Correctly Worded Written Contract • Written contracts have been given significant importance by Tax Court judges. • Landmark Wiebe Door tax court case criteria should be … Read more
Canada’s Digital Services Tax Sparks U.S. Response
The Office of the United States Trade Representative is committed to taking necessary measures to stop Canada’s new tax on large foreign digital services companies. This tax targets revenue earned … Read more
Major Update – CRA’s PSB Pilot
The Canada Revenue Agency (CRA) has escalated its approach towards independent contractors with recent communications. Initially, the CRA merely suggested that certain corporations might be classified as Personal Services Businesses … Read more
Buying a Car: Personal vs. Corporate Ownership and Leasing vs. Financing
When it comes to purchasing a car, two of the most common questions we hear are: Let’s delve into these questions to help you make a more informed decision. Lease … Read more
CRA Has Been Sending PSB Notices To Independent Contractors
Recently, the Canada Revenue Agency (CRA) has been sending out letters to independent contractors, suggesting that their operations might meet the criteria of Personal Services Businesses (PSBs). This implies that … Read more
QBO Price Increase Update
In recent years, QuickBooks Online (QBO) has consistently increased its subscription prices, a trend that has stirred discussions among its user base. Here is a price comparison between 2020 & … Read more
