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Registering Your Business in Canada – Do you have to?

Do You Need to Register Your Business in Canada? Starting a business can be exciting and challenging, but many people are unsure about one key question: Do you need to register your business in Canada? This question can seem complicated because "registering a business" can mean different things depending on the context. Let’s break [...]

January 16th, 2025|

What to do when you receive a Demand to File letter from the CRA

What does a Demand to File letter look like? A Demand to File letter, usually referred to simply as a Demand letter, is a request for a tax return from the Canada Revenue Agency (CRA). CRA sends out demand letters for returns that Have not been filed Are likely to have tax owing CRA doesn’t [...]

August 19th, 2024|

Don’t despair if you’ve fallen years behind on your tax filing

It starts with missing one year. Tax time rolls around and you’re going through some things so you put it off or it slips your mind. Second year – it happens again. It starts to bother you, but life is hectic. Third year: now it’s becoming a habit not to file. Every now and then, [...]

June 27th, 2023|

Deducting business-use-of-home expenses

What is the business-use-of-home deduction? Business-use-of-home is a means by which a business owner can deduct expenses for the business use of a work space in your home, as long as you meet one of the following conditions: it is your principal place of business; OR you use the space only to earn your business [...]

April 8th, 2023|

The Covid Work-From-Home deduction (2020-2022)

The special Work-From-Home deduction relating to Covid-19 came into effect for the 2020 tax year and continued until the end of the 2022 tax year. Let's recap what this deduction does and how to claim it. The Covid-19 Work-From-Home Deduction As a consequence of the Covid-19 pandemic, the Canadian government allowed a special Work-From-Home deduction [...]

April 7th, 2023|

Does your foreign real estate have to be declared on T1135?

Form T1135 Foreign Income Verification Statement must be filed when a Canadian taxpayer answers 'yes' to the question "Did you at any time in the year own specified foreign property valued at over $100,000 (CAD)?" Watch: Foreign Property and the T1135 However, some real estate is considered exempt from this question, and therefore doesn't trigger [...]

March 22nd, 2023|

Cooperating With Your Ex On Your Taxes | Divorce and Tax

Divorce and separation are painful life events, and it’s natural to want to distance yourself from the experience – and your ex -- for a while. But when it comes to your taxes the fastest route is always getting it right the first time, and that means you will have to communicate and cooperate with [...]

March 3rd, 2023|
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