Articles by: Sohail Afzal

Category: Sohail Afzal

What is HST (Harmonized Sales Tax) in Canada?

People often confuse Harmonized Sales Tax (HST) with Goods and Services Tax (GST) in Canada. But the difference between the two is that GST comes under the HST. Although both are the type of consumption taxes, HST is a combination of GST and Provincial Sales Tax (PST). Where PST relates to the provincial rules in…
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How Much Does a Real Estate Accountant Cost in Canada?

There has been a revolution in the accounting and bookkeeping services in Canada and neighbouring countries in the last few decades. There were times when accountants or bookkeepers used to carry a pile of bulky files around the office and sit there for extended hours with their noses buried in those books. But nowadays, like…
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A Guide to Corporate Tax in Canada

As a business owner, you may have to deal with several types of tasks on your own. There are times when you, as the owner, will also have to do tasks that you never thought you would end up doing. We have all been there. But never should come a time when a business owner,…
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Who Are Real Estate Accountants and What do They Do?

We all know real estate business can turn out to be quite fruitful in Canada. But this is not something that everyone can do. Those who have sold or bought a property in Canada have only a slight idea about the dealings of the real estate market. Once you get in the full canvas of…
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Is a CPA Similar to an Accountant?

A CPA (Chartered Professional Accountant) is similar to an accountant in only a few ways. Mainly, there are significant differences between the two. A CPA, as its complete form suggests, is a designation that you can attain by fulfilling specific educational and vocational requirements. The details of which can be seen in the headings below.…
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Tips for Paying Income Tax as an Independent Contractor in Canada

Being self-employed means a lot of flexibility in daily work hours, the place for working, and how much money you make. Many entrepreneurs realize that they can make much more money as an independent contractor than working two or even three jobs. But with more leverages comes more responsibility. As an independent contractor in Canada,…
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All You Need to Know About Canada’s Startup Visa Program

Do you have an innovative business idea? Do you have the ability to create jobs for other people? Do you make a good living out of your current business? If your answer is Yes in all the cases, hop into the following details where you can find all about Canada’s Startup Visa Program. Suppose you…
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What are the GST and PST Rates for Small Businesses in Canada?

Being able to create jobs instead of applying for a job is such a privilege to have. You will know this privilege if you own a business or want to own one soon. Entrepreneurs work hard to make it all the way to create jobs rather than acquire one. They have to work extra hours,…
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Is It A Salary Or A Dividend That I Should Be Paying Myself From My Canadian Corporation?

If you pay yourself a salary from your Canadian corporation, it will have the following features: If you pay yourself a salary, it will be subject to CPP and EI deductions. The more you pay yourself in terms of salary, the higher the amount of CPP and EI entitlements you can receive. You will receive…
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Are Bookkeeping Services Taxable in Canada?

Running a business in Canada and knowing about your taxes are the two things that go hand in hand. It’s all fun and games until the HST (Harmonized Sales Tax) jumps in. Since there are different provincial and federal tax rates in Canada, it isn’t easy to keep up with all the rates. Fortunately, some…
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