Vancouver Accounting & Tax Blog
New Federal Subsidy Programs for Canadian Businesses
Tourism & Hospitality Recovery Program (THRP) The THRP provides the greatest subsidy at up to 75%. To meet the criteria, your company must meet the following: Be eligible under...
Tax Planning Season
As our wonderful summer is coming to an end, with the trees are changing colour and leaves falling, many people would think it’s the start of ‘Spooky Season’ but at Jason Ding, CPA Inc., we like to call it ‘Tax Planning Season’!
Interest Relief for Personal Taxes on COVID-19 Benefits
If you received COVID-19 benefits from the Government of Canada and have taxes owing for 2020, you might be eligible for interest relief.
Only those who meet all the following criteria are eligible for the interest relief. This will be applied automatically by CRA on any taxes owing for 2020.
Don’t Miss Out on these BC COVID Programs
This is for all our clients currently living and operating business in beautiful British Columbia! The Government of B.C. has come out with several programs for businesses and individuals to assist them through these difficult times. The below information is a very brief overview of the programs, but if you would like more information, we are more than happy to discuss these with you!
COVID Benefits and Your Personal Taxes
Tax season in Canada is almost upon us and it is only going to be made more confusing because of COVID-19 (of course!). If you collected any of the COVID-19 benefits in 2020, you might be surprised to find that instead of receiving a refund, you owe taxes. It is especially important this year to begin you tax return early so you can assess what amount, if any, you will owe due to receiving these government benefits.
Take Advantage of these Huge WFH Tax Savings
Canada released new guidance on Dec 15, 2020 to streamline and simplify the year end taxes specific to Covid19. They have given two choices:
- Simple Flat Rate method and
- Detailed method.
Maximize your Tax Credits with Charitable Donations
It is the time of year where Canadians overwhelmingly open their hearts and wallets to various charities. In 2019, 72% of Canadians engaged in charitable activities, 65% of those people donated to causes that they cared about. Studies have shown that any act of altruism or selflessness is connected to positive physical and mental benefits! Your brain releases those ‘feel good’ chemicals that make you feel warm and fuzzy for having done a good deed, also known as a ‘givers high’.
Canada Emergency Rent Subsidy
Many of you have probably heard about CERS (Canada Emergency Rent Subsidy) that came into effect November 23, 2020, which is replacing the Canada Emergency Commercial Rent Assistance (CECRA) program. Don’t worry, we are here to walk you through it!
Do I really need to hire an accountant?
The million dollar question, which luckily will not cost you a million dollars.
“If I only knew earlier …” is often the opener when a client calls in with extreme panic in their voice. And you could avoid being that person if you hired an accountant.
CRA’s Cyber Attack: Summary of CRA’s Compromised Security
As you are all aware, we live in a world where cyber security has become increasingly more important as we continue to digitize our lives. Unfortunately CRA is not immune to being hacked.
Note that as an important security notice, you may be receiving this email multiple times as we have sent this off to a number of different groups.