Tax Elections that Cancel GST/HST on the Sale of Assets
March 8, 2021Tax Elections that Cancel GST/HST on the Sale of Assets Section 156(1) of the Excise Tax Act (Asset Purchase) – Form RC4616 In our last article, we looked at Election
Tax elections on the sale of a business: Avoiding GST/HST with the filing of Election 167
March 8, 2021Tax elections on the sale of a business: Avoiding GST/HST with the filing of Election 167 When selling the supplies of a business, there are certain tax elections that one
What Are The Benefits of a Holding Corporation
December 20, 2020Benefits of a Holding Corporation What is the benefit of a holding corporation? Laying-in a holding corporation to your operating company structure presents significant tax benefits but also limits your
Registering for an HST Number: Benefits to Small Business Earning Less Than $30K
December 20, 2020Registering for an HST Number: Benefits to Small Business Earning Less Than $30K If you’re a business earning $30k or more in a fiscal year, then you must register for
GST/HST Account Registration, Collection, and Remittance
June 30, 2020GST/HST Account Registration, Collection, and Remittance A goods and services tax (GST) number is a unique tax identification number assigned to a business by the Canada Revenue Agency (CRA). It’s
Pay Less Tax on Your Home-Based Business
June 30, 2020Pay Less Tax on Your Home-Based Business Is your home where you principally conduct your business? Do you spend most of your business working hours at home? Is your home
Integration of Canadian Personal & Corporate Taxes
June 7, 2020Integration of Canadian Personal & Corporate Taxes Kalfa Law Firm practices at the intersection of tax and corporate law, and often advises businesspeople on whether or not incorporating their business may
Capital Gains Deduction Eligibility for Proprietors
May 26, 2020Capital Gains Deduction Eligibility for Proprietors The Capital Gains Deduction is a powerful tool for business people available under Canadian income tax law. Where it is available, it allows business-people
CRA Home Office Expenses COVID-19
May 17, 2020CRA Home Office Expenses COVID-19 The COVID-19 pandemic has forced many businesses to lock down their stores, offices and other business premises. Nearly two years have passed since millions of
COVID-19 and CRA’s Taxpayer Relief Provisions
May 17, 2020COVID-19 and CRA’s Taxpayer Relief Provisions February 2022 update: The tax relief provisions described in this article only apply to taxable income for the 2020 taxation year. Eligible taxpayers who
