Like all of you, we’ve been monitoring the evolving global impact of the novel coronavirus (COVID-19). As employers, our number one priority has always been and remains the health and safety of our people. We would like to share best practices on how you, as an employer, can uphold that commitment. We hope that this
Did you know that you can use your financial institution’s online banking portal to pay your individual taxes to the Canada Revenue Agency (CRA) and you can also pay your business taxes online from a business bank account? It’s as easy as paying any of your other bills. Paying individual taxes online: Sign in to
If you use your vehicle for earning business income and have eligible travel expenses, you are probably already aware that you can deduct some of your vehicle costs. What you may not know, though, is the difference between leasing and financing a vehicle for tax purposes. If you’re considering adding a new vehicle to your
Do your employees use their personal vehicles for business purposes? The tax deduction limits and expense benefit rates have changed for 2019. Make sure you understand as an employer your responsibilities around allowances to cover expenses. Most of the limits and rates that applied in 2018 will continue to apply in 2019. However, the
The deadline to give employees their T4 slips is Thursday, February 28, 2019! The failure to distribute T4 slips on time is $25 per day for each failure with a minimum penalty of $100 and a maximum of $2500. How to distribute T4 slips: Secured Portal: You may distribute T4s electronically by making them accessible
October is Small Business Month and RLB is always here to help! Often, our main role is known to be ensuring small businesses are compliant with deadlines, rules, and regulations that the Canada Revenue Agency (CRA) sets. At RLB, we do much more than that. We value our one-on-one approach with our clients, as we feel
Transitioning from being an employee to running your own business comes with great challenges. One of these challenges is keeping up with the laundry list of compliance filings with the Canada Revenue Agency (CRA). The CRA has many different deadlines for filing requirements based on the type of business, the size of the business, and
There are many options available to make payments to the Canada Revenue Agency (CRA) for your personal taxes… Debit Card Through MyPayment. This is an electronic payment service offered by the CRA that uses Visa/Mastercard or Debit/Interact cards online to make payments directly to the CRA. The CRA does not charge a fee for using the MyPayment service.
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. This makes things quicker and simpler for small businesses
October is Small Business Month and RLB is always here to help! Often, our main role is known to be ensuring small businesses are compliant with deadlines, rules, and regulations that the Canada Revenue Agency (CRA) sets. At RLB, we do much more than that. We value our one-on-one approach with our clients, as we feel
