Changes to NPO Accounting

Changes to NPO Accounting

If you serve on the management team or the board of a non-profit organization (“NPO”), you may have heard about some recent changes to accounting standards. The changes will be effective for fiscal years beginning on or after January 1, 2012 and will apply to all NPO’s that issue audited or reviewed financial statements.  The […]

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Tax Implications of Solar Projects For Business Owners

Category: Tax Services

You own a business in Kingston, Ontario and are considering the installation of solar panels on your facility’s roof to take advantage of the terms offered under the microFIT or FIT programs. Your tax considerations would include: The income you earn from the project will be taxable. However, you will be entitled to claim deductions […]

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Why is CRA Auditing My Business?

Category: Tax Services

Most corporate returns are e-filed with CRA, and starting January 1, 2013, almost all corporate tax returns will be required to be e-filed with CRA.   Electronic transmission gives them easy access to analyze your financial data.    Don’t be surprised if you get a corporate tax audit if: You’ve had a bad year and carry back […]

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What To Do When CRA Comes Auditing

Category: Tax Services

We’ve noticed that CRA appears to be getting more aggressive in the way they perform their field audits. Here are some basic tips that will help you survive your CRA audit When CRA calls to advise you that you’re having a tax audit, call your accountant immediately, even if the CRA tells you that you […]

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2020 Personal Income Tax Filings

2020 Personal Income Tax Filings

In spite of the challenging environment we are all facing as result of the COVID-19 global pandemic, we have yet to hear from Canada Revenue Agency (CRA) regarding any filing extensions…

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Wage & Rent Subsidy Support Continues to June 2021

Wage & Rent Subsidy Support Continues to June 2021

On March 3, 2021 the Government of Canada announced that it would continue financial support to June 5, 2021 to businesses effected by the COVID-19 global pandemic. …

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2020 Personal Tax Checklist

2020 Personal Tax Checklist

It will soon be time to file your 2020 personal tax return. Please download the checklist which will assist you in assembling the necessary information …

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