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…

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…

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,…

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…

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.…

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,…