CPA4IT
Should I Return to Work or Stay on CERB?
I’m currently collecting the Canadian Emergency Response Benefit (CERB) and have been offered my job back/I have been offered a new position, should I return to work or continue to … Read more
For HST, how do I opt for the quick method?
The Quick Method of HST typical results in a lower HST payable to Canada Revenue Agency if you are service based business. If you are not sure of the difference … Read more
Does it matter if I use my personal or business credit card when making purchases for my business?
It does not matter which credit card you use. You are the director of your company, which entitles you to use whichever credit card you feel you are getting a better deal with. If you use your personal credit card to pay for business expenses the corporation owes you the amount and vice versa. However, it is highly recommend that you do your best not to intertwine personal expenses and business expenses. If you choose to use a personal credit card for business use it exclusively for business and put your personal non deductible expenses on another credit card.
GST/HST WHAT SMALL BUSINESS OWNERS NEED TO KNOW
There is often confusion around GST/HST. Many small business owners don’t know when they should register for it, what method they should use or when to file. In this blog post I will attempt to provide some clarity on this topic.
Let’s start with some basics. GST/HST or Harmonized Sales Tax is the harmonization of Provincial Sales Tax (PST) and Goods and Services Tax (GST). In Ontario the harmonized rate is 13%. This is the tax that is applied to most goods and services that you purchase in Ontario. The exception to this is zero-rated and exempt supplies. In addition to paying HST on goods and services, you are also required to collect HST once your revenue exceeds $30,000.
Can I Deduct My Golf Expenses?
Canada Revenue Agency has recently changed its policy on the deductibility of expenses paid out for meals and beverages at a golf facility. Canada Revenue Agency had previously interpreted the … Read more
Can You Claim Missed Deductions from Previous Years with CRA?
If you have missed tax deductions for a previous year, you are normally allowed to make the claim. First, find out whether three years have passed since the date of … Read more
How is the IT Contracting Market for New Immigrants?
In today’s work environment, diversity and inclusion are really a hot button topic for clients, and I think today more and more companies are open to figuring out ways to … Read more
Why Are Staffing Agencies important for the hiring process?
Well, I can speak all day on that. Big organizations do not want to deal with individuals they want to deal with an entity that can handle everything for them. … Read more
How Important are Soft skills for an IT Contractor?
It’s in the top 10 most in demand skills for 2020. Number 10 was project management office. So, again, all of those skills do require great interpersonal skills that require … Read more
