GST/HST Credit Increase in Canada 2025: Payment Dates & Eligibility
Hello Canadians! There is some wonderful news to cheer you up if rising living expenses is affecting you. Starting July 2025, the Canada Revenue Agency (CRA) intends to assist low- and moderate-income families offset the Goods and Services Tax (GST) and Harmonized Sales Tax (HST) they pay by raising the GST/HST Credit 2.7%. Whether you […]
Get Your Tax Refund Faster: CRA Timelines & Tips for Canadians
Tax season has wrapped up, and now you’re likely asking, “When Will I Get My Tax Refund?” We totally understand how important that money can be, whether you’re planning to pay bills, save up or treat yourself. While the Canada Revenue Agency (CRA) aims to process refunds quickly, various factors can either speed things up […]
How to Incorporate Your Business in Canada: Costs, Steps & Tax Tips
You’re an ambitious Canadian entrepreneur, and the idea of incorporating your small business has probably popped into your head. You’re probably thinking in terms of enhanced credibility, solid legal protection, and some savvy tax benefits. You are about to take a huge step that has the power to change the course of your business. This […]
Uber Driver Taxes in Canada: Your FAQs Answered By Tax Accountant
Being an Uber driver in Canada is an exciting and empowering experience, as you are in control of your time, but in terms of taxes, you might be at sea with no sail. But take into account that you are virtually pushing a small business that is on wheels, which means you need to get […]
Carry Forward vs. Balance Owing: Key Canadian Tax Terms Explained
Canadian tax filing season can feel like trying to learn a new language with unfamiliar lingo that may initially confuse you. You may come across the key tax terms “carry forward” and “balance owing.” Understanding how they are different and what they will mean to you in your tax planning is essential. Let’s take a […]
How to Legally Pay Less Taxes in Canada: Complete 2025 Guide
As we near the end of 2024 tax year, many Canadians are looking for effective ways to ease their tax burden. This is not only about filing your returns on time, but it is also about finding ways to reduce the amount of tax you pay and claim bigger refunds. It does not matter if […]
Understanding Your T4 Slip: A Canadian Employee’s Guide to Taxes
If you’re an employee in Canada, you’re likely familiar with the T4 slip, formally known as the Statement of Remuneration Paid. This document is essential for understanding your earnings and tax deductions from January 1 to December 31 of the previous year. In this guide, we’ll break down the T4 slip, understand your paycheck, and […]
Understanding CRA Rules for Corporate Withdrawals in Canada
If you’re running a corporation in Canada, it’s essential to keep track of every dollar that flows from your business to your personal account. Each transfer needs to be properly categorized, whether it’s a loan, salary, dividend, or return of capital, as they all come with their own tax implications and documentation needs. I’ve encountered […]
Uber GST/HST Registration Guide for Rideshare and Delivery Drivers
As an Uber driver in Canada, understanding the rules surrounding GST/HST registration can be one of the most confusing aspects of managing your taxes. Whether you’re a rideshare driver providing Uber services or delivering meals through Uber Eats (DoorDash, Instacart), the Canada Revenue Agency (CRA) has specific rules that you need to follow. Let’s break […]
CRA Penalties and Interest: Avoid Late Filing, Incorrect Returns & Costly Mistakes
Since the 2025 tax filing season begins on February 24, it is important to note Canada Revenue Agency (CRA) penalties and interest charges that self-employed professionals, freelancers, and contractors may incur. These CRA penalties are designed to encourage compliance with tax laws, but can be costly if ignored. Whether you are filing your taxes on […]