Should I be issuing T4A slips?

Should I be issuing T4A slips?

If you are a business or non-profit organisation in Canada then the answer is YES.  You are required to issues a T4A slip to ANYONE who you pay any of the following types of revenue to: pension or superannuationlump-sum paymentsself-employed...
Don’t be blasé about tax debt

Don’t be blasé about tax debt

When it comes to paying bills, we often tend to be blasé and put our financial responsibilities into the too hard basket.  Ignoring debt is the easy option at the time but eventually things catch up with you.  When it comes to paying tax, it is even more important to...
Withholding Tax Changes for Contractors

Withholding Tax Changes for Contractors

For the purpose this these changes a contractor is someone who suppliestheir labour to a third person as an “independent contractor”.  Those in the trades are commonly referred to as contractors and may not necessarily be effected by these changes (although...
Office Parties – Deductible or not?

Office Parties – Deductible or not?

Party party party!!! Are you planning a Christmas function for special clients and/or suppliers and business contacts?  Be aware that this will come under the entertainment regime for purposes of tax deductibility. Any expenditure on food and drink that your business...
Christmas Presents

Christmas Presents

Thinking about giving your staff a well deserved Christmas Present of Bonus this year? Cash bonuses are always subject to PAYE and should be put through your standard payroll process. There is a category called “Extra Emolument” designed to avoid overly penalising...
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