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GST/HST on Assignment of New Housing Agreements

GST/HST on Assignment of New Housing Agreements
June 3, 2022

 GST/HST on Assignment of New Housing Agreements

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Changes to Compilation Engagement

Changes to Compilation Engagement
February 1, 2022

A compilation engagement (previously referred to as a notice to reader) will be going through some changes this year. This is the first time in over 30 years that the Auditing and Assurance Standards Board has issued a new standard. For those who manage a business and engage a practitioner to compile your financial information, these changes should be taken note of.

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AirBnb 101: Renting Out a Second Property

AirBnb 101: Renting Out a Second Property
July 12, 2021

Renting out a second property We have covered renting out a portion of your home, but what do we need to know when we own a second property to rent out full time?

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Airbnb 101: Renting Your Home

Airbnb 101: Renting Your Home
July 12, 2021

Trying to earn a little extra on the side is common these days – everyone could use a little extra spending money.  But just because it is not your full-time job doesn’t mean you don’t have to consider the tax implications.  Today we will cover one method of earning additional money – renting out your home through organizations such as AirBnB.

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Making the Most of Your Financing

Making the Most of Your Financing

Many companies rely on financial leverage such as loans, mortgages, and credit facilities to sustain and grow their businesses. Current economic conditions may place higher reliance on financing for the operational success and continuance of your company. Once you have acquired financing from a bank, a private lender, or another financial institution, it is essential to plan for what comes next. The following tips will help you get the most out of your financial leverage.

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2021 Federal Budget – Digging Deeper for a Recovery Plan

2021 Federal Budget – Digging Deeper for a Recovery Plan

On Monday, April 19, 2021, Minister of Finance Chrystia Freeland released the 2021 Canadian federal budget. This is very likely the last budget before the next federal election. The minority Liberal government proposed measures encouraging support from other parties and included something for almost every potential voter.

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Beware of Fraud: Tips for Avoiding Scams

Beware of Fraud: Tips for Avoiding Scams
April 5, 2021

Ever had a threatening phone message supposedly left by the CRA? Read news stories about an unsuspecting senior bulk-purchasing iTunes gift cards to avoid more severe penalties? The truth is new ways to scam Canadians pop up daily. Robot voicemails and requests for gift cards are still happening in our communities – but there are many more scams running that you might not know. Beware of fraud! Do you know how to protect yourself and your loved ones from some of the less obvious scam attempts?

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Ontario’s 2021 Budget Announcement: What It Means For You

Ontario’s 2021 Budget Announcement: What It Means For You

On Wednesday, March 24th, Ontario Finance Minister Peter Bethlenfalvy unveiled the province’s 2021 budget. This spending plan focused on healthcare, small businesses, and families with several key financial proposals. Read more about the 2021 budget announcement.

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How Does the “Quick Method” of Accounting Really Work?

How Does the “Quick Method” of Accounting Really Work?
March 20, 2021

The Quick Method is a simplified way to calculate HST for small businesses.  Instead of totalling Input Tax Credits (ITCs) on all expenses and subtracting them from HST collected on sales, the Quick Method allows HST payable to be calculated based on a percentage of sales.

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Navigating COVID-19 Benefits for Your Business

Navigating COVID-19 Benefits for Your Business

Navigating COVID-19 relief programs over the past 12-months has been a challenge for many businesses. Your accountant or business advisor can help. One year later, what do the COVID-19 benefits mean for your business?

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