CRA 2019: T1 Individual Income Tax Returns – No Penalties or Interest If You File and Pay by August 31, 2020

Per the CRA website link below – taxpayers have up to August 31, 2020 (rather than Monday June 1 or June 15) to file their 2019 T1 returns and pay the tax without penalties or interest. Extended filing and payment deadlines You will not be charged late-filing penalties or interest if your 2019 individual (T1) […]

Canada’s COVID-19 Economic Response Plan

Read the follow-up article to this for the most up-to-date information: COVID-19: Economic Response Plan – Legislative Update On March 18, 2020, Prime Minister Trudeau announced Canada’s COVID-19 Economic Response Plan.  The plan includes some proposed tax and non-tax measures aimed at relieving economic hardship during the COVID-19 pandemic. Note:  None of the proposed measures […]

Revenue Diversification

Revenue Diversification By Non-Profit Organizations

This article is from the quarterly Canadian Overview, a newsletter produced by the Canadian member firms of Moore North America. These articles are meant to pursue our mission ofbeing the best partner in your success by keeping you aware of the latest business news.  The Canadian Income Tax Act defines a non-profit organization as “a club, society or […]

It's Never Too Early to Organize Your Music Business

It’s Never Too Early to Organize Your Music Business

Once you’ve started directing effort and funds toward earning income as a musician, congratulations, you’re in the music business! Many musicians put off organizing the business side of their career until they have to, only to realize how many opportunities they missed to save money along the way. So, no matter how overwhelmed you may […]

Executors and Income Tax

Executors and Income Tax

  Executors and Income Tax In this article we’ll look at an executor’s responsibilities under the Income Tax Act. If you’re being considered as an executor of a will, we recommend getting legal advice before assuming the role, as it carries specific obligations under common and tax law. You should understand the nature of the […]