GTA Accounting Insights

Category: blogs

Canadian Tax Deductions and Credits in 2022

In 2022, Canadians will be able to take advantage of several new tax deductions and credits. Some of these include the Children’s Fitness Tax Credit, the Public Transit Tax Credit, and the Volunteer Firefighter’s Tax Credit. In this article, we’ll take a closer look at these tax breaks and what you need to do to…
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Common Mistakes On Your Tax Return In Canada 2022

Avoiding common mistakes when filing your income tax return is important. Filing a wrong or incorrect amount can lead to audits and penalties, which may drastically change the outcome of whatever refund you were expecting, not just this year but for future returns as well! That’s why we’ve compiled some common errors that people make…
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Tax Implications of Hiring A Nanny or A Housekeeper in Oakville

Many couples are juggling their way into life with children and careers. It is very common now for both parents to work full-time jobs, and with child care’s high cost, many families are hiring a nanny or a housekeeper to help with their children and around the home. But what are the tax implications of…
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Taxes As An International Student in Canada: All You Need To Know About

Canada is a popular destination for international students. If you’re among them, we hope this information will be helpful as your study abroad adventure begins! When it comes to filing your taxes, we understand this can be a bit confusing, but that’s why we’re here! Depending on your program length, whether you have a job,…
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Your Ultimate Guide to Taxes for eCommerce in Canada

Whether you’re just starting out or have been in business for a while, it’s important to understand the tax requirements for your eCommerce business. Taxes can be complex, but we’re here to help make it as easy as possible to understand what you need to do to stay compliant. In this guide, we’ll cover: An…
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CRA Gift Tax Rules for Employers: What You Need to Know

Do you know what the CRA gifts tax rules are for employers? If not, you need to read this blog post! We will discuss the basics of the CRA gift tax rules and how they apply to employers. Plus, we will give you tips on how to comply with these rules. When an employee receives…
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Social Media Influencers and Taxes in Canada: What You Need to Know

As social media influencers become increasingly popular, the Canada Revenue Agency is starting to notice. Recently, there have been many cases where the CRA has demanded that social media influencers pay taxes on their income from online activities. This blog post will discuss what you need to know about taxes and social media in Canada.…
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Can You Claim Work from Home Expenses on Your Taxes in 2022?

In recent years, there has been a huge surge in the number of people working from home. The rise of technology has made it easier for people to telecommute and still be productive. As a result, more and more people are asking the question: can you claim work from home expenses on your taxes? The…
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Signs You Need a Bookkeeper In Canada

In Canada, small business owners are often responsible for managing their finances. While this can be a great way to learn about the inner workings of a business, it can also be overwhelming and time-consuming. A bookkeeper in Canada can help take some of the burdens of the business owner, allowing them to focus on…
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Why You Should Never Do Your Own Taxes

If you’re like most people, doing your own taxes is probably at the bottom of your list of things to do. It’s time-consuming, confusing, and can be a hassle. That’s why it’s a good idea to leave it to the professionals at a tax firm. At a tax firm, you can get help from experienced…
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