Shaelene’s Tax Tip of the Week – April 29th

As is the standard in much of Canadian Law, the CRA uses a “reasonableness” test to determine their decisions as they relate to business income. In fact, “reasonable” and “reasonably” shows up an astounding 1219 times in our Income Tax Act. If you plan to do something, consider for example whether or not the CRA would think you “reasonably” expected a profit from your undertaking.

Have questions? Send us an email at info@booksinline.ca!

Shaelene’s Tax Tip of the Week – July 17

Consider this… 

As is the standard in much of Canadian Law, the CRA uses a “reasonableness” test to determine their decisions as they relate to business income. In fact, “reasonable” and “reasonably” shows up an astounding 1,219 times in our Income Tax Act. Before you plan on doing something, consider for example whether or not the CRA would think you “reasonably” expected a profit from your undertaking.

Have questions? Give us a call at 905-571-2665.