by Mustafa Alam | Apr 2, 2022 | Tax-News-Updates
In the digital age, it’s crucial for consumer-facing businesses to develop and implement e-commerce capabilities to remain competitive. The adoption of digital technologies enables businesses to serve existing customers more effectively and to attract new...
by Mustafa Alam | Mar 5, 2021 | Tax-News-Updates
RESP FOR TAX PURPOSE: Is there a tax deduction for RESP? Unlike RRSPs, contributions to an RESP are not tax-deductible nor are they taxable when withdrawn. The main benefit of the RESP is the ability to have all earnings...
by Mustafa Alam | Mar 5, 2021 | Tax-News-Updates
The Tax‐Free Savings Account (TFSA) is an account that allows individuals to earn tax‐free investment income. Canadian residents aged 18 years or older can open and contribute to a TFSA Account. TFSA contributions are not tax deductible; however, any investment income...
by Mustafa Alam | Mar 5, 2021 | Tax-News-Updates
Uber/Lyft drivers can claim a lot of expenses to lower their income tax and get more GST/HST refund. First of all, the uber fees and charges are inclusive of 13% GST/HSTwhich can be claimed. They can claim GST/HST on their car buying price too subject to certain...
by Mustafa Alam | Mar 5, 2021 | Tax-News-Updates
The Government of Canada decided to extend the time of Covid-19 related supports for the businesses till June 05, 2021. Small & Medium businesses are heart of Canadian economy. Thanks to the federal government.
by Mustafa Alam | Mar 5, 2021 | Tax-News-Updates
Canada Revenue Agency, for the first time, is going to use “Proceeds-of-Crime” laws in order to prevent tax evasion and tax cheats. Under this provision, Canada Revenue Agency can restrain, freeze or seize the assets of the defaulters, even the assets are out of...
