New: Personal Support Workers Tax Credit Coming Soon

Personal support workers will receive billions in increased wages from federal/provincial governments in B.C., Newfoundland and Labrador and the Northwest Territories.  Those workers in other provinces will now get a raise too, but they will have to wait until filing their 2026 returns in the spring of 2027 to cash in, according to an October 27 pre-budget announcement.  Here are the details:

Set up a proper double entry bookkeeping system for a small business, analyze and report transactions within the accounting cycle to the business owner, and prepare financial statements ready for tax preparation and review by the accountant. Enrol in Basic Bookkeeping for Small Businesses by December 11 and save $200 on tax deductible tuition fees.

Cash flow and income are two different things; but it may be all the same to your clients — how much do I have to spend each month? Help your clients understand their after-tax cash flow with our Cash Flow Calculator — Try a free demo today!

December is just around the corner and it’s high time to finalize the estimation of 2013 taxes payable income in order to determine the correct amount of the final tax instalments (December 15 for all taxpayers except farmers, who must submit one instalment on December 31).

The Supporting Small Businesses Act recently passed a second reading in the Ontario Legislature. Also known as Bill 105, the object of the legislation is to provide relief from the Employer Health Tax to small businesses, charities and not-for-profit entities.

On October 31, the Canada Revenue Agency (CRA) announced changes to the Scientific Research and Experimental Development (SR&ED) claim form, which incorporates changes announced in the 2012 and 2013 budgets.

With all the political shenanigans of late (both federal and local), the respect – or lack thereof – of the taxpayers’ dollars emerges on front page news daily. If this is particularly irksome to you, you might be interested in a little history of taxation in Canada.