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BUDGET 2024 text on a small yellow piece of paper lying on top of the calculator.
April 17, 2024 Article

2024 Federal Budget Highlights & Commentary

On April 16, 2024, the Deputy Prime Minister and Finance Minister, the Honourable Chrystia Freeland, presented Budget 2024 to the House of Commons. No changes were made to personal or corporate tax rates. However, the inclusion rate on taxable capital gains has been
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Illustration - calendar with December 31str circled
November 3, 2023 Article

Window Closing on Immediate Expensing Tax Incentive Program

The ‘Immediate Expensing’ tax incentive program offered by the Federal Government is coming to an end on December 31st. To help ensure that you’re making the most of this incentive, it is essential to understand the concept of immediate expensing and the
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accounting calculation
August 24, 2023 Article

Business Overhead Costs: When and Where to Cut When Sales are Slowing

While talk of a recession in Canada has waned in recent months, many small and mid-sized businesses are experiencing increasingly challenging economic conditions. In its most recent report on the state of the small business economy in Canada, accounting software
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Illustration of business man on road going up to dark clouds.
July 13, 2023 Article

CRA Interest Rates: The Growing Cost of Late Tax Payments

UPDATE: As of January 2024, the CRA interest rates charged on late tax payments is 10%. The interest rate on prescribed rate business loans has risen to 6%. Rising interest rates aren’t just impacting mortgage rates and other loans, they are also impacting the cost
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Illustration of hand giving money another hand on the first of the month.
June 13, 2023 Article

Tenants in Canada at Risk for Non-Resident Landlord Withholding Taxes

A recent ruling from the Tax Court of Canada may have significant ramifications for commercial and residential tenants and landlords on rental agreements in Canada. Under existing Canadian tax rules, tenants renting from non-resident landlords must withhold at source
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Stopwatch with loan written at the top and clock hands nearing the top.
June 12, 2023 Business operations

CEBA Loan Repayments Due at Year-End

Business owners should be planning their CEBA loan repayment now to ensure the funds are available to meet the December 31, 2023
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