GTA Accounting Insights

Category: Corporate Taxes

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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5 Benefits of Filing Taxes Online: How to Save Time and Money in Mississauga

Filing your taxes can be a daunting task. It’s even more challenging if you’re trying to do it on your own. That’s why so many people choose to use accounting firms in Mississauga to help them with their tax filing. However, did you know that you can also file your taxes online? There are many benefits…
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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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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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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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How to Avoid Tax Problems When Using a Business Car for Personal Use

The Canada Revenue Agency constantly assesses whether a vehicle is being used for personal or business purposes.  In the long run, it does not matter whether the company itself owns the car or if it is owned by the individual who owns the business.  The important factor is how much the vehicle is used for…
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How is Cryptocurrency Taxed in Canada 2022

Are you wondering how crypto is taxed in Canada? According to the Canada Revenue Agency, cryptocurrency taxes in Canada are not always straightforward. If your investment is treated as a capital gain or a business income, you will pay either Capital Gains Tax or Income Tax on it. This is still not very clear. Our…
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How To Choose An Accounting Firm For Personal And Corporate Tax in 2022?

Every year, the Canadian government changes or tweaks the existing tax laws. This change makes it hard for salaried people and business owners alike and leaves them confused. There are various factors to observe and decisions to make, from minimizing tax liability to proper cash flow. In addition to keeping up with tax laws, accounting…
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5 Myths About Taxes That You Should Believe in Oakville

We know it’s confusing to deal with taxes. In a recent survey, 41% of Canadians reported enjoying filing their taxes, but many are dissatisfied with the process or frustrated by the confusion and frustration it may bring. Our experts have compiled a list of the top 5 Oakville tax myths to help clear up the…
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How to Handle Your Taxes if You’re Part of the Gig Economy in Oakville

Freelancers, independent contractors, or gig workers are like business owners. Because you won’t get a T4 slip reporting income for the year, you’ll have to calculate how much income you made and include it on your federal tax return. You need not worry, though! We’ll make it as easy as possible. Whatever you do to…
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