This blog is for general informational purposes only, may not be applicable to your circumstances and is not intended as tax advice.
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Back into Blogging
Tax season ended a few weeks ago, and we’re catching up on everything, including social media! We hope to get back into blogging and tweeting more regularly soon. We are also proud…
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Commission Paid to a Corporation: Any Issues?
Consider the successful real estate or insurance agent, the financial product vendor, the area sales representative, or any other person earning commission income. One day they are asked, if they ever considered…
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Business Failure: Personal Liability for Corporate Tax Debt
There are special laws which hold a director personally liable for certain amounts that their corporation fails to deduct, withhold, remit, or pay. Most commonly, these amounts include federal sales tax (GST/HST)…
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Marijuana: A Growing Industry
As the legislation to legalize marijuana for non-medical purposes works its way through parliament (Bill C-45 entered the Senate phase on November 27, 2017), producers, vendors, regulators, enforcement, and potential customers are…
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2017 T1 Checklist
Need help figuring out if you have everything you need to prepare your taxes? We’ve just uploaded our 2017 T1 General Checklist. Download it here: https://pelcpa.ca/pel-wp/pel-wp/wp-content/uploads/2018/02/T1-General-Checklist-2017.pdf
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Thinking of using a prescribed rate loan to split investment income with your spouse or child? Act fast.
Canada Revenue Agency’s prescribed rate is set to double from 1% to 2% as of April 1, 2018. If you loan your spouse or child money by March 31, 2018, you can…
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CRA and Service Canada Online Accounts Linked
An individual’s online CRA account (My Account) is now linked to their online Service Canada Account (EI, CPP, OAS, etc.) to provide both departments’ information in a single log-in session.
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R-E-S-P Find out what it means to you
You started an RESP for your child’s future post-secondary education – but now they’ve decided they’re not going to continue in school, or to go to school at all. If an RESP…
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Did you know? Small Business Tax Rate Tidbits
The federal small business tax rate will be gradually lowered to 9% by 2019. The British Columbia small business tax rate was cut to 2% retroactive to April 1, 2017. Does your…
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Holiday Closure Notice (and the Best of the Holiday Season to You!)
The team at PEL would like to wish you and your families a very Happy Holidays and all the best for 2018. Our office will be closing for the holidays at 5:00pm…
