Shaelene’s Tax Tip of the Week – September 13th

Did you know?

The moment you start bringing in income, you should create a budget for taxes. Unlike salaried employees, payroll deductions such as Canada Pension Plan (CPP) and income taxes are not withheld at source. Therefore, it is crucial you set aside funds for the employer and employee portion of CPP (9.9%) that you’re required to contribute to by the annual deadline (April 30th).

Have questions?

Give us a call at 905-571-2665 (BOOK)!

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Tax tip found here.

Shaelene’s Tax Tip of the Week – September 6th

Have you given your employee a gift recently?

It isn’t always a taxable benefit. Non-cash gifts for a special occasion have an upper limit of $500, and non-cash gifts for a work anniversary have an upper limit of $500 every five years.  Anything in excess, however, is a taxable benefit. Have questions?

Give us a call at 905-571-2665 (BOOK)!

We’ve got you covered!