by Roberto Belingueres | Sep 25, 2021 | Advisory, Articles & Publications, Startups, Taxes
Tax Advantages of Incorporating your Business in Canada Incorporating your business may lead to lower taxes depending on your particular situation and the province in which you operate. Incorporating can save you money once the business generates more income than you...
by Roberto Belingueres | Sep 25, 2021 | Articles & Publications, Taxes
How much is child benefit in Canada per month? For each child: under six years of age: $6,833 per year ($569.41 per month) 6 to 17 years of age: $5,765 per year ($480.41 per month). Will child benefit increase in 2021? On July 20, the Minister of Families, Children...
by Roberto Belingueres | Sep 25, 2021 | Articles & Publications, Taxes
Is cryptocurrency taxable in Canada? According to CRA, possessing or holding a cryptocurrency is not taxable. However, selling, making a gift, trading or exchanging a cryptocurrency, including disposing of one to get another, or converting cryptocurrency to a...
by Roberto Belingueres | Aug 23, 2021 | Articles & Publications, Taxes
Do You Have Unfiled Tax Returns For Years? As for the record, the CRA wants you to file and pay your taxes on time every year. When you cannot do so, you may put yourself at risk of high penalty amounts and collection tasks like bank levies or wage garnishments. We at...
by Roberto Belingueres | Aug 23, 2021 | Articles & Publications, Taxes
Old Age Security One-Time Payment Only. You will receive the one-time payment for older seniors if you were: born on or before June 30, 1947, and eligible for the Old Age Security pension in June 2021 If you have applied for the Old Age Security pension but have not...
by Roberto Belingueres | Aug 23, 2021 | Articles & Publications, Taxes
CRA Notice of Objection (NOO) Once you file your taxes, you receive a Notice of Assessment and later a Notice of Reassessment. You have two options: Pay the taxes owing File a CRA Notice of Objection (NOO). The CRA is not always right; when you disagree, you can...
