Your Business Unleashed Blog :
Tax – Canadian Corporate

2024 CRA per-kilometer allowance rates The Canada Revenue Agency (CRA) has adjusted the per-kilometer rates for vehicle allowances, varying by year and location. Here's a breakdown of the recent revisions: 2024 Automobile Allowance Rates: -…

How to claim motor vehicle expenses for your business in Canada? If your business uses a vehicle to earn business income, you can deduct some or all of the related vehicle expenses. Entrepreneurs frequently ask…

Canadian Tax Deadlines Tips & Tricks: A Stress-Free Filing Season For business owners, it's especially crucial to stay organized and keep track of key dates to avoid costly penalties or fees. To help make tax…

2024 Canada Pension Plan and Employment Insurance rates CPP and EI have increased a lot over the last few years, specifically starting in 2019 when the government announced the new "enhanced' CPP rates. 2024 CPP…

CRA going to 10% interest on overdue taxes Figuring out tax instalments and paying tax bills on time is confusing for many taxpayers. Getting it wrong is getting a lot more expensive as the interest…

New Trust Reporting Rules for 2023 T3 Returns   UPDATE: Bare Trusts Exempt from 2023 Trust Reporting Requirements Overview of the 2023 Trust reporting rules The new trust reporting tax rules, announced in the 2018…

Have you been putting off a major business purchase like equipment, machinery, a new car, or computer equipment? If at all possible, make your business purchases before December 31 because time is running out on…

On September 14, 2023, the Canadian Government announced a 3% increase in CPP premiums which makes Canada a little more expensive for average everyday workers, and 1.4X more expensive for their employers. Additionally, the maximum…

UPDATE to the CEBA Loan repayment terms (Canada Emergency Business Account). On September 14, 2023, the Government of Canada announced changes to the Canada Emergency Business Account (CEBA) repayment terms. LET'S CHAT Here's a summary…

Oh, the Canada Revenue Agency (CRA) - our beloved tax overlords. These fine folks have the critical job of ensuring we all play by the rules regarding taxes and business finances.   You know, the stuff…

Budget 2023 covers a wide range of topics, from healthcare to the new Employee Ownership Trust, increased Alternative Minimum Tax and a continued (and excessive) focus on climate change. There are even some conciliatory measures…

If you work in a restaurant, hair salon, hotel, or spa, you know that as a customer in Canada, it’s common to leave a gratuity for good service. However, for many businesses in this industry,…