New Mega Deduction a Good Start, But More Tax Reforms Are Needed
The Federal government has unveiled a Productivity Mega Deduction, which will provide immediate expensing under Capital Cost Allowance (CCA) provisions for a broad range of depreciable property, importantly on a permanent basis, for acquisitions on or after September 15, 2026. Check out the noteworthy exclusions are listed below. This tax reform is a good start, but much more needs to be done, especially for small business owners and average taxpayers to make Canada truly competitive across our tax base.Mark Your Calendar: Personal Tax Bootcamp - RSVP by Dec. 15
Sign up before December 15 to secure your spot at the Knowledge Bureau’s Comprehensive Day Long Tax Update!
Give The Gift Of Time: It’s Precious
It seems to sneak up on us every year: the Christmas Holiday season. Regardless of how you celebrate, it is a time to reflect, count your blessings, give, and re-evaluate how you will use your precious resources of time and money in the new year.
Knowledge Bureau Designate Highlight: Michelle Smith
Grow your business with the DFA - Bookkeeping Specialist™ Designation.
Review Changes Before Finalizing T Slips
While the March 2nd 2015 deadline for filing T4 slips is still some time away, CRA released publication RC4120-Employers’ Guide – Filing the T4 Slip and Summary on November 21, 2014.
Structure Your Estate For All Instances Or Courts Will
Is your estate planning up to date so that your final wishes will indeed be carried out? If not, things may not pan out, as the courts take matters into their own hands.
CRA Security Breaches: Taxpayers Must Be Able To Rely On Privacy
Canada has a taxation system that is based on self-assessment. We are required to accurately assess income, deductions and credits, filing our tax returns on time, or face penalties, interest and/or jail in serious instances.
