Bill Morneau, Minister of Finance, presented the new Liberal government’s first federal budget on March 22, 2016.
The IASB has issued a new standard on the recognition, measurement, presentation and disclosure of leases in financial statements prepared in accordance with IFRS.
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The ability of a U.S. taxpayer to maintain an undisclosed “secret” foreign financial account is fast becoming non-existent.
The path to becoming self-employed may seem daunting at first. However, with proper planning and guidance you can be in control of your own success.
The B.C. government introduced legislation on May 14, 2012, to meet government’s commitment to return to the Provincial Sales Tax on April 1, 2013. As committed, the PST is being re-implemented with all permanent exemptions. The government also introduced common-sense improvements that will make administration of the sales tax easier for businesses. Consumers will pay […]
On April 1, 2013, British Columbia will eliminate the 12% harmonized sales tax (HST) and re-implement the 5% goods and services tax (GST) and 7% BC provincial sales tax (PST). Builders need to keep in mind the following issues with respect to the transition: 1. Sales of new homes prior to April 1, 2013 a) […]
A new change has been made to the Corporate Tax Rates that applies to the income of a personal services business (PSB). Income of a PSB no longer qualifies for the federal general rate reduction of 13%. As a result this leads to a 38% corporate tax rate for PSB income and flow through rate […]
On January 1, 2012, changes to the rules for deducting CPP contributions will come into effect. Under the new rules employers may have to deduct CPP contributions from the pensionable earnings paid to an employee who is 60 to 70 years of age, even if the employee is receiving a CPP or Quebec Pension Plan […]