| Have you made any mistakes on any of your tax returns? Fear not! Amending these mistakes does not increase your chance of being audited, nor does it mean you have done something illegal. You can always fix these honest mistakes and the CRA would rather you do it instead of having to spend the time figuring it out. Have questions? Give us a call at 905-571-2665 (BOOK)! We’ve got you covered! |
| Do you plan on selling your principal residence? As long as it has been your principal residence for every year that you have owned the property, you will not have to pay any tax on any gain from the sale. If it was not your principal residence at any time you have owned the property, or only part of the property is considered your principal residence, you will have to pay part of the tax on the capital gain corresponding to the years it wasn’t or the square feet that wasn’t included as part of the principal residence. Have questions? Give us a call at 905-571-2665 (BOOK)! |
| We’ve got you covered! |
| Have you given your employees a gift recently? It isn’t always a taxable benefit. Non-cash gifts for a special occasion has an upper limit of $500, and non-cash gifts for a work anniversary has 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! |
