From Our Blog

Small business phase-out threshold increased – Under current rules, Canadian-controlled private corporations (CCPC) are eligible for a lower corporate income tax rate on their first $500,000 of business income. 

With more and more information being stored in the digital realm, it is crucial that business and individuals adapt to the security risks associated with having data stored online.

Get back up to 20% of your eligible 2022 Ontario accommodation expenses when you file your personal income tax return for the tax year 2022 (filed in 2023). Ontario residents can claim 20% of their eligible 2022 accommodation expenses,

A common term many entrepreneurs are increasingly hearing is ESG, which stands for Environmental, Social, and Governance (ESG). While ESG is certainly not new, there has been a global focus on a efforts in each of the three areas. 

As of today, the government has announced changes to several of its assistance programs. The Canadian Emergency Wage Subsidy (CEWS) and the Canadian Emergency Rent Subsidy (CERS) were terminated on October 23rd, 2021, while the Canadian Recovery Hiring Program, as currently structured, concluded effective November 20th, 2021.

CRA created the CRHP to assist employers hire more employees to recover and grow their businesses as the government reopens the economy. This program was introduced as part of Bill C-30 and will be available for application when it receives Royal Assent.

Effective May 15, 2021, we are no longer able to file your Ontario Corporations Information Act Annual Return with Canada Revenue Agency. (These forms provided Service Ontario with changes to the corporations addresses and directors and were required to be filed annually.)

Have you ever wondered what the difference between a salary and a dividend is?

As a business owner it’s important to take time away from work. But worrying about whether staff are meeting deadlines and suppliers are happy translates to more stress and less time enjoying your holiday.

When you’re a small business owner, you get used to people giving you advice. Sometimes you seek out their insights while other times they share whether you want them to or not. While the advice is almost always well-intended, it’s not always good.

In these difficult times, you may find your business slowing down and sales harder to come by. Given this trend, establishing and maintaining connections with existing and potential customers have become more important than ever.

So you’ve set up your business and sold some products and services. Now, you have to send an invoice to collect your payment. But what should you include on your invoices in order to get paid faster?