2022 Tax Rate Cards

Download the 2022 British Columbia Tax Rate Cards for individuals and corporations. Income tax brackets, capital gains, non-eligible and eligible dividend percentages included.

The Gift of Tax This Holiday

As we near the final months of the year, discussions of holiday gifts and parties for employees are often the main topics of the season. While an unwanted tax bill may not be in the minds of employers during the holiday, it’s important not to overlook the tax implications of these wonderful perks. Holiday Gifts […]

The Real Cost of Buying Luxury Cars in B.C.

Editor’s note: This article was originally published on November 16, 2020, and was updated on September 30, 2021 to show the impact of the proposed federal luxury tax. Having built a successful career or business, many high-income earners like to reward themselves by purchasing a luxury car.  However, the true-cost of buying a luxury car […]

Keeping Up with Trust Reporting

Keeping Up with Trust Reporting

New 2021 Trust Reporting Rules to the CRA There are new tax return filing and information reporting requirements for trusts effective for taxation years ending on/after December 31, 2021. Changes include: Requiring a T3 to be filed for certain trusts even if they did not have to before, Requiring reporting of personal information including names […]

Employee Home Office Expenses

Everything You Need to Know About Working from Home and Tax Deductions

As an employee, you may be able to claim a deduction on your Canadian T1 personal income tax return for (1) home office expenses (work-space-in-the-home expenses) and (2) office supplies, and (cell) phone expenses you incur in doing your job. Employee Home Office Expenses You may be able to claim a deduction for home office expenses: […]

Transparency in Tax

In the words of the OECD: “Tax transparency is about putting an end to bank secrecy and tax evasion through global tax co-operation”.  All us accounting geeks out there know that the CPA profession has publicly stated that it supports transparency of the beneficial ownership of corporations to create a national framework for whistleblowing and […]