Believe it or not this crazy year has nearly come to an end! Most clients have been planning for year-end purchases to minimize their tax exposure. Talk to your advisor if you have not already done so. Another issue has come to light regarding the Carbon Tax. A form...
Continue ReadingThe federal government issued an economic statement on November 21, 2018 which included the announcement of the “Accelerated Investment Incentive.” The Accelerated Investment Incentive effectively increases the amount of capital cost allowance that can be claimed on the purchase of a capital property in the year of acquisition. The...
Continue ReadingThe Canada Revenue Agency annually reviews approximately 3 million tax returns to ensure that various amounts are property reported and supported. Generally the CRA selects returns randomly, comparison of information on returns to other sources, the type of deduction or credit being claimed and based on review history. If...
Continue Reading