Plan Ahead for New SR&ED Rules

The changes to the Scientific Research and Experimental Development (“SR&ED”) program announced in the 2012 Federal Budget may have an impact on your 2013 SR&ED claim.  Here’s a short summary of the main changes and some possible planning points to allow you...

Tax Implications of Solar Projects For Business Owners

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...

Why is CRA Auditing My Business?

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...

What To Do When CRA Comes Auditing

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,...