File tax for your business. Visit our office or contact Olga@LCPA.ca
Effective December 2017 The accountant would issue a new Independent Practitioner’s Review Engagement Report.
Review Engagement Report often required by banks and lenders when company applies for bank loans.
Please contact our office to get more details.
More and more clients use Paypal and Square for their sales. It’s very convenient. However, recently CRA has requested Paypal to disclose details for Business Account holders. Please make sure Paypal Sales are correctly recorded in self-employed tax returns and corporate tax returns.
New starting 2016: if you sold your principal residence, you have to report the sale on Schedule 3 and Form T2091. You do not have to pay tax on any gain from the sale because of the principal residence exemption. Change in usage from principal residence to rental or business is deemed disposition and has to be reported. There is a penalty for non reporting.
Fir more details please see the link to CRA website:
PROGRESS: SUPPORTING CANADA’S RESEARCHERS TO BUILD A MORE INNOVATIVE
Tax season has started and as Canadians prepare to fill out their forms, officials are urging people to be cautious of Canada Revenue Agency (CRA) scams that are already on the rise.
According to Ottawa police, these scams happen all year, but there’s usually an increase in complaints starting in March until the end of April because scammers target people during tax season.
The Canadian Retirement Income Calculator will provide you with retirement income information, including the Old Age Security (OAS) pension and Canada Pension Plan (CPP) retirement benefits.
Please use the link below
Online mail – Helping you organize your Canada Revenue Agency mail
Please see the link to the Charities Listings at CRA website.
It can be used to confirm if a Canadian charity is registered to help guide your donation decisions.