It Pays to be Punctual: 3 Big Reasons to be Timely With Your Business’s Taxes

A concerned businessman reviewing financial documents on his laptop, emphasizing the urgency of meeting tax deadlines.

When it comes to your business’s taxes, there’s no such thing as being fashionably late. Failing to file your taxes on time carries serious penalties, and the interest rates on late and unpaid tax and/or installment payments are the highest they’ve been in over a decade. With the deadline for… Read more

Deals on Wheels: Is B.C.’s New E-Bike Rebate Too Good to be True?

A man walks a brand new electric bicycle up a mountain path with a valley and forests in the background. Individual tax accounting.

On May 25, 2023, the Government of B.C. announced a new incentive program to encourage British Columbians to adopt an increasingly popular sustainable transportation option: Electric Bicycles (e-bikes). The new BC Electric Bike Rebate Program launched on June 1, 2023, to unprecedented demand from those looking to get their hands… Read more

Sun, Snow and the CRA: Taxes & Regulations for Vacation Rental Owners

"Two Adirondack chairs on a serene lakeside dock, hinting at the peaceful escape of vacation rentals and the importance of understanding rental taxes and regulations.

Welcome to the wild world of vacation rentals, also known as short-term rentals (STRs), where you can turn your spare property into an income-generating machine almost overnight. While hosting a vacation rental may seem like an easy way to bolster your passive income, when it comes to taxes and regulations,… Read more

CRA Strike: Impacts & Updates

Canada flag waving in the win in front of a government office building in Ottawa

[MAY 4, 2023 UPDATE]: Last night, the Canada Revenue Agency (CRA) reached a 4-year tentative agreement with the Public Service Alliance of Canada – Union of Taxation Employees (PSAC-UTE). Upon ratification, this agreement will apply to approximately 39,000 PSAC-UTE employees working at the CRA. Employees represented by PSAC-UTE will return… Read more

When is a gift not a gift? Updates to the CRA’s policies on employee gifts and awards

A professional meticulously planning year-end tasks on a laptop with project management software and marking key dates on a calendar.

At this time of the year, you’ll likely be racking your brain for the perfect gifts to spoil those close to you, who may or may not be your employees. Unfortunately, as with everything you buy, the CRA is thinking about your gifting as well. The CRA has revised some… Read more

Ask the Expert… What kind of business records do I need to keep, and how long do I need to keep them?

Business professional diligently working beside a large stack of documents, symbolizing the importance of record-keeping in business.

As we enter the final quarter of the year, you might be starting to look ahead to tax season and making sure your business documents are in order for a tidy filing process. While you take a look through your records, it’s a good idea to refresh yourself on what… Read more

BC PST Rebate Reminder (March 31, 2022)

Business professional diligently working beside a large stack of documents, symbolizing the importance of record-keeping in business.

Is your business planning any purchases or leases of tangible assets in BC? If there will be BC PST charged, consider ordering, being invoiced and paying for them by the end of this month, March 31, to recover the PST if they are eligible assets. Purchases and leases for most… Read more

The Gift of Tax This Holiday

A photo of Santa Clause checking his list at a table covered with presents and a stack of presents in the background.

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… Read more