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 required to complete returns for you and any family members. Please review the checklist carefully and gather...

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Taxation of Stock Options

Stock options are a popular way for companies to attract and retain key employees.  So what happens when an employee is granted stock options by a Canadian-Controlled Private Corporation (“CCPC”)? There are no tax consequences to the employee when the stock options...

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RRSPs and the Home Buyers’ Plan (HBP)

It’s RRSP time again, and many people may be trying to decide whether or not to invest their money in an RRSP.  As you make that decision, don’t overlook the possible financial advantage of the Home Buyers’ Plan (HBP). With the HBP, anyone who hasn’t owned a home in...

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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...

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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...

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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,...

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