Understanding reports on financial statements
There are three main types of engagements that are performed by Chartered Accountant, each of which provides different reports based on the level of assurance provided. The following link from the Canadian Institute of Chartered Accountants (CICA) provides a detailed explanation of each of these three reports. CLICK HERE
Canada Revenue Agency (CRA) website
The CRA website contains a vast amount of information relating to everything and anything tax related. CLICK HERE
We encourage all of our clients to make both their personal and corporate tax payments online. The CRA My Payment is a simple way to pay your taxes on a timely basis, straight from your bank account. It is available to clients of most of the Canadian banks. CLICK HERE
BDC – Business Development Canada
The BDC is Canada’s business development bank and the only financial institution dedicated exclusively to entrepreneurs. As discussed in the Services section, we have successfully assisted numerous clients obtain financing for start-up projects or business expansion through our contacts at the BDC. The website provides some great information on how to apply for a loan. CLICK HERE
2021 Home office expense deduction.
The CRA has made changes to how you can claim home office expenses if you were working at home due to COVID-19.
Please click here to access out information sheet on how to claim home office expenses.
Please click here to access Form T777S Statement of Employment Expenses for Working at Home Due to COVID-19.
2021 T1 tax return organizer
Please click here to access our 2020 T1 tax return organizer which will assist you in organizing your 2020 tax information.