tax accountant toronto

There are a few things Canadians selling their U.S property should be aware of: 1: The 15% holding tax: As a Canadian or a non-resident of the U.S., you are subject to U.S. tax laws when selling your U.S. property. Regardless of the cost of your property, a 15% tax must be paid on the sale…

Read More
Personal Tax Return Toronto

As American who works in Canada, there are a few necessary points the one must be aware of when it comes to tax obligations. The first point is being a resident or a non-resident of Canada. There are three factors that could possibly dictate such an outcome, the first being – where is your permanent…

Read More
Small business accountant

Now that the baby boomers are nearing retirement age, some may wish to transfer their business to a family member within Canada, and here are some tips on how it is done. First, mistakes in this procedure could happen, the biggest one is selling their business to the desired family member with a specific dollar…

Read More
tax accountant mississauga

As a small business in Canada, there are a large number of tax deductions that can be aimed at your small business spending, helping you minimize your tax burden and maximizer your business income. Take advantage of tax deductions: Tax deductions help you reduce your tax bill, and to take advantage of them fully, you…

Read More
Corporate Tax Accountant Toronto

Corporate taxation in Canada is on the verge of changing. Business leaders are pushing hard for corporate tax cuts for many reasons as per the Senate’s banking committee, who are urging the Trudeau government to take the necessary big steps on the issue of corporate taxation. The committee is pushing to introduce immediate corporate tax…

Read More
tax accountant toronto

Many Canadians wishing to retire soon but are not looking forward to the miserable weather that takes up more than half of each year and the high cost of living, are faced with a certain dilemma, and that is the departure tax. According to the Broadbent Institute, a very small minority (around 15 to 20%)…

Read More

Tax audits are about the last thing you happening to you, it is a frightening experience and it can also be very costly. CRA auditors will seek your books, records, receipts, and bank account statement. Questionnaires could be asked to be filled out, and any declared information that is wrong regardless if it was due…

Read More

Website Privacy Policy The last update to our Privacy Policy was posted on September 25, 2018.  This Privacy Policy governs the privacy terms of our Website, https://www.gtaaccounting.ca/, as owned and operated by GTA Professional Accounting Corp. Definitions “Non-Personal Information” (NPI) is information that is not personally identifiable to you and we automatically collect when you…

Read More
Tax Accounting Services Toronto

In 1986, the Lifetime Capital Gains Exemptions was introduced by the CRA. By understanding how it works and how to qualify for it, you can significantly lower your tax bill. We’ll take a look at how CGE works. Do you qualify for Capital Gains Exemption (CGE)? If you buy a capital asset for your business…

Read More
Tax Accounting Services Toronto

As a Canadian taxpayer, you need to be aware of the GAAR. Introduced in 1988, this rule allows the tax authorities to target and deal with people who are abusing or avoiding the Canadian taxation system. While many businesses focus on tax planning in order to save money, they may just find themselves being caught…

Read More