Tax is often a big challenge for business owners in Canada. In between all the complexities, the small business deduction stands out as a beacon of hope. Qualifying entities can reduce their federal corporate tax rate from 15% to 9%, on up to $500,000 of their active business profits. But what exactly is the small …
A Guide To The Small Business Deduction in Canada Read More »
Understanding the tax system in Canada is an important part of running a business. Two common types of tax you will encounter are the Harmonized Sales Tax (HST) and the Goods and Services Tax (GST). These taxes can have a significant impact on your business and cash flow so it’s essential to understand the differences …
HST Filing vs GST Filing: Understanding the difference Read More »
If you’re wondering when and how to register for GST or HST, this quick read will help you. When you operate a business in Canada you are required to collect sales tax for the government – GST and/or HST. Which one you collect depends on your province/territory and the goods or services you’re selling. You …