How to make Tax Payments to CRA
Paying taxes is an essential responsibility for individuals and businesses in Canada, contributing to the smooth functioning of the country’s various programs and services. The Canada Revenue Agency (CRA) is the government agency responsible for collecting taxes. Whether you’re an individual or a business owner, understanding how to make tax payments to CRA is crucial. […]
Tax Planning for Small Business in Canada
This article will discuss five levels of tax planning for small business in Canada. We’ll discuss them in order of risk and complexity. Contents – Tax Planning for Small Business in Canada RRSPs and TFSAs (Level 1) The first level of tax planning is fairly common, but still excellent and quite underused. Business owners can […]
TFSA vs RRSP in Canada
In the realm of Canadian personal finance, two acronyms stand out prominently: TFSA (Tax-Free Savings Account) and RRSP (Registered Retirement Savings Plan). These two investment vehicles play a pivotal role in shaping Canadians’ financial journeys, offering distinct advantages tailored to different life stages and goals. In this article, we embark on a comprehensive exploration of […]
FHSA Canada – Guide to the First Home Savings Account
The FHSA has the word “savings” in its title but it’s actually a registered investment account. Usually, when you earn income on investments that you hold, you have to pay income tax on that investment income. However, there are some registered investment accounts that provide tax benefits, and the FHSA Canada is the latest of these accounts. […]
How to File Business Tax in Canada
As a business owner in Canada, staying on top of your financial obligations is crucial to ensure the smooth operation of your company and avoid any unwanted surprises. Filing your business taxes accurately and on time is not only a legal requirement but also a strategic move that can impact your bottom line. In this […]
Bookkeeping Services in Canada
In the modern business landscape of Canada, where meticulous financial management is the bedrock of success, bookkeeping services have emerged as a cornerstone for businesses aiming to thrive. This article delves into the pivotal role of bookkeeping services in Canada, highlighting their significance, benefits, and how they can empower businesses to achieve financial excellence. 1. […]