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The Government of Canada is in the process of increasing the age at which you will be eligible to start receiving the Old Age Security (OAS) Benefits from 65 to 67.  Essentially if you were born in 1957 or earlier, you will still be eligible to start receiving your OAS benefits starting at 65.  If …...

Business owners now have the ability to obtain Employment Insurance benefits coverage.  These benefits include maternity, parental, sickness and compassionate care benefits.  In order to qualify for these benefits, the business owner will have to register with the Canada Employment Insurance Commission and start to pay the EI premiums on their income or wage for …...

If you are running a business that is not incorporated, chances are someone you have talked to, or you have read somewhere, that you should incorporate because there are incredibly low tax rates for incorporated companies. While this is true, there is more to the story.  In order to take advantage of these low rates, …...

When purchasing Canadian real estate from non-residents of Canada you need to ensure that the sellers have obtained a Non-Resident Clearance Certificate (Form T2062).  This Certificate, issued by CRA, certifies that the tax on the sale has been paid and there are no further income tax liabilities.  This is important because, if the certificate is …...

With the economic struggles in the US, several people are rushing to purchase property at greatly reduced costs.  While these struggles will eventually subside, and the value of this real estate will eventually increase, there are issues that you should be aware of before making this purchase. The main issue with buying real estate in …...

If you are approaching retirement and thinking of collecting CPP in the near future you should keep in mind the following changes which take effect January 1, 2012: • If you are between ages 65 and 70 and you are collecting CPP, your employer will still have to deduct and remit CPP premiums.  Previously if you …...

Most business owners I talk to are looking to grow their business.  In some cases, they want to grow very quickly.  They have given a great deal of thought to how they are going to accomplish this and how they are going to accommodate the additional workload.  The one thing that they have not given …...

  Having already determined you need the services of a Chartered Accountant, how do you decide which person or firm to go with?  The first thing you need to determine is what services you require.  This may seem like an easy question to answer but all firms will be able to provide the basic accounting …...

There may be situations in which some planning prior to preparing your tax return next year will pay off.  For example, if you had a significant capital gain in 2010 you will be required to pay installments in 2011.  However, if this was a one time occurance, you may be able to reduce the amount of …...

With the change in our name it was a great time to launch our new website. We hope you find the resources section helpful and come back often to read our News section for important tax savings tips, industry related articles and much more....