GTA Accounting Insights

Category: Corporate Tax Return

Reasons To Separate Business Bank Accounts In Mississauga

As a business owner, you might find that your savings are the only source of funding for now. That’s not unusual at all! Personal bank accounts and credit cards will continue to be used to make things happen with your new company or startup. However, as any business grows, it’s important to establish a separate…
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Tax Plan For Canadian Doctors

As a Canadian doctor, you must be aware of the ever-changing tax rules and regulations. It is especially true for those who are self-employed or work outside traditional employment structures like solo practitioners because they may not have HR staff able enough to handle tax plan responsibilities alone! Canadian Doctors should have a plan for…
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Everything About a Holding Company In Canada

Some people think that a holding company is only used in the corporate structure of big businesses. But if you are unsure what it means or why setting one up would benefit your business, right? Take an in-depth look at this term and see if we can figure out whether setting one up could work…
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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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Newcomers to Canada: The Tax Laws and Regulations You Need to Know

When you move to a new country, there are always many new things to learn. The tax laws and regulations can be especially confusing, especially if you’re not familiar with the system. That’s why it’s important to consult with an accounting firm or tax expert who can help you get up to speed. In this…
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6 Things to Consider When Filing Your Taxes in 2022

Even though every Canadian has to pay taxes, most of us don’t know what to do or where to begin. This website provides all the latest information you need to file your taxes in 2022 in one convenient location. This guide is for those overwhelmed by the idea of gathering and interpreting all required slips…
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This is What You Should Know About Line 10100 in Canada

As we approach tax season, you may be tempted to save yourself a few dollars by filing your own taxes. Even though tax returns may appear straightforward, they can be complex and stressful to the untrained eye. Luckily, GTA Accounting can assist you with the process. Let us begin by reviewing “What is Line 10100…
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Things to Know About Tax Refunds in Canada

Tax refunds are not positive, as is widely believed. You may feel pleased when you receive a lump sum in your bank account as if you won the lottery, but don’t let your dopamine rush fool you. The reason for your tax refund is that you overpaid the government. There was an overpayment of tax…
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What Are the Best Strategies to Handle A CRA Tax Audit?

The Canada Revenue Agency (CRA) is empowered to audit taxpayers to ensure their compliance with the Canadian tax laws to maintain public confidence in the fairness and integrity of Canadian taxation. You should read this article if the CRA has notified you that you are being audited. As a taxpayer under audit, you will learn…
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Here’s What You Need to Know As a First Time Tax Filer in Toronto

Benjamin Franklin famously said, “Nothing is certain except death and taxes.” Whether you’re pursuing your degree, working your first job, or about to retire, tax filing is a part of life here in Canada, no matter what stage of life you’re in. Whether it is your first time filing – or you need a refresher…
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