Introduction Taxation is an integral part of any country’s financial system, and Canada is no exception. As we step into the fiscal year 2023-2024, it’s essential for Canadians to stay informed about the latest tax regulations and updates. In this blog,...
A promise to legalize employee ownership trusts (EOTs) in Canada was made in the federal budget for 2022. This will make it easier for employees to buy into and own Canadian companies. EOT-related changes to the Income Tax Act (Canada) (the Tax Act) were included in...
A number of of the main tax percentages have increased significantly for 2023 as a result of the considerable inflation we had in 2022. Economic uncertainty has been strong over the last 12 months as a result of COVID-19 developments. As a consequence, while...
The tax season arrives in Canada, you’ll see that many people rush to complete their taxes at the last minute or hire a professional, such as an accountant, to do it for them. Most of the time, what you might think qualifies you for a tax deduction only...
Understanding the tipping regulations that apply to the hospitality sector and how tipping may affect your business’ books for accounting and tax filing purposes is essential if you own or operate a restaurant. In Canada, it is illegal for a company’s...
