by northnet | Nov 17, 2021 | Current & Topical, Tax Services
All corporations incorporated in Ontario are required to file an Annual Return with the Ontario government within six months after the end of each tax year. This filing requirement is in addition to a requirement to file any income tax returns. The Annual...
by northnet | Nov 9, 2021 | Current & Topical, Tax Services
New tax reporting requirements for certain trusts will come into effect for the 2021 taxation year ending on December 31.As a result, most trusts must now file a Canadian tax return even if there was little or no activity. Penalties for late filing are...
by northnet | Oct 22, 2021 | Current & Topical
In response to the COVID-19 global pandemic, the federal government rolled out a number of support programs over the last 18 months such as the Canada Emergency Wage Subsidy (CEWS), Canada Emergency Rent Subsidy (CERS), Lockdown Support and Canada Recovery Hiring...
by northnet | Oct 21, 2021 | Current & Topical
BackgroundFor decades, income tax legislation has made it difficult to sell your small business or family farm to a family member and still get concessional tax treatment for the seller. Under legislation that previously stood, if you sold your business to an arms’...
by northnet | Apr 27, 2021 | Current & Topical
In response to the continued financial distress that the COVID-19 global pandemic has caused on businesses, the federal government recently outlined extensions for the Canada Emergency Wage Subsidy (CEWS) and Canada Emergency Rent Subsidy (CERS) to September 25,...
