by Doug Stansbury | Mar 18, 2020 | On Target - Blog
Key Dates: Personal tax (T1) filing deadline: June 1st Payment deadline for 2019 personal taxes: August 31st – no interest or penalties will accumulate before then Filing deadline for trusts with December 31st year end: May 1st Payment deadline for corporate...
by Doug Stansbury | Mar 18, 2020 | On Target - Blog
While our offices continue to remain open during the current Provincial State of Emergency, if you are currently in self-isolation, or have any concerns whatsoever about interpersonal contact, we encourage you to use our online portal to submit your tax information...
by Doug Stansbury | Feb 6, 2020 | On Target - Blog
There is a new look for your 2019 tax return – Schedule 1 has now been incorporated into the body of the T1 return. Otherwise, very little of substance has changed from 2018. Highlights of some of the new tax measures introduced in 2019 are: Canada...
by Doug Stansbury | Nov 28, 2019 | On Target - Blog
Over the past few years, the Canada Revenue Agency (CRA) has increased its focus on combatting tax evasion through major improvements in data collection and analysis. With the implementation of the 2019 Federal budget, they now have the resources to do significantly...
by Doug Stansbury | Sep 5, 2019 | On Target - Blog, Small Business
One of the most frequent questions I get from clients is whether or not they should pay tax installments. Although this sounds like a simple enough question, the answer is rarely straight forward and depends on your individual situation. Are you liable for tax...
by Doug Stansbury | Aug 15, 2019 | On Target - Blog, Small Business
On September 1, 2019, new rules will be coming into force for businesses that sell to Quebec consumers. Under the old rules, only businesses with permanent establishments in Quebec were required to register for and collect the QST. Now, most businesses that sell...
by Doug Stansbury | Jul 19, 2019 | On Target - Blog, Small Business
THE IMPORTANCE OF NETWORKING & PERSONAL RELATIONSHIPS I thought I would take a break from writing about tax and accounting issues, and use this opportunity to talk about growing your business. Most of us who run small to medium sized businesses are always looking...
by Doug Stansbury | May 8, 2019 | On Target - Blog, Personal Income, Tax Assessment
Over the past few years, the use of automated technology in assessing tax returns has increased dramatically as the Canada Revenue Agency (CRA) works to leverage technological advances with the dual goal of increasing efficiencies and catching unreported income. On...
by Doug Stansbury | Feb 7, 2019 | On Target - Blog, Tax Planning
Looking back on my past posts, I realized it has been five years since I put out my last “Top 10 Tax Tips”. Some advice has not changed in that time (and is repeated below) while other tax tips have come and gone. The trend over the past few years has been a reduction...
by Doug Stansbury | Aug 2, 2018 | On Target - Blog, Small Business, Tax Planning
Most small business owners that I talk to are aware of the capital gains exemption for Small Business Corporations, but very few know the details of how it works and fewer still are actively planning to take advantage of it. When entrepreneurs are just starting out,...
