Tax Forgiveness

Covid-19 Ontario Programs

Ontario Small Business Support Grant Applications are open for the new Ontario Small Business Support Grant, which helps small businesses that are required to close or significantly restrict services under the Province-wide Shutdown effective December 26, 2020. What will you … Read More

WSIB – details, premiums and reporting

Who should register for WSIB coverage? Most Ontario businesses that have employees (including family members and sub-contractors) must register with WSIB. You have 10 calendar days to register from the day you hire your first employee. If you are not … Read More

Payroll: How to set up a pre-authorized agreement for payroll

Pre-authorized debit (PAD) is a secure, online self-service payment option for individuals and businesses to pay source remittances. You set the payment amount and authorize the Canada Revenue Agency (CRA) to withdraw it from your Canadian chequing account on the … Read More

RESP – definition, contribution room and deadlines

What is an RESP? A registered education savings plan (RESP) is a contract between an individual (the subscriber (usually a parent)) and a person or organization (the promoter). Under the contract, the subscriber names one or more beneficiaries (the future … Read More

How to organize your documents

Wherever the documents are stored, it is important to keep them organized and up-to-date. The goal of electronic file management is to ensure that you can find what you’re looking for, even if you’re looking for it years after its … Read More

Home office expenses

There are two types of home office expenses that can be claimed: Home office expenses as a salaried employee or commission employee Business-use-of-home expenses for self-employed Home Office Expenses As an employee, you may be able to claim certain home … Read More

Payroll: How to report a nil remittance

If no employment wages were paid during the period,  you can use the following instructions to report a nil remittance: online by calling the automated TeleReply service at 1-800-959-2256. by mail If the employment wages were paid during the period, … Read More

How to change your business address with the Canada Revenue Agency (CRA)

The Canada Revenue Agency (CRA) requests notice of a change of address as soon as possible. You can update your address using one of the following options: Online: Change your address online immediately using CRA My Account By calling 1-800-959-5525 … Read More