ROEs, or Records of Employment, are completed by employers across Canada as part of their payroll processes. However, whether you are an employee or an employer, dealing with ROEs and the complexities surrounding them can be challenging. If ROE issues are not resolved, it can lead to delayed benefits, potential fraud, or even hefty fines. […]
Introducing the Enhanced Caregiver Tax Credit
Simplifying Tax Credits for Caregivers: Understanding Changes from 2016 to 2017 If you were providing care and support to a family member in 2016, you may have been eligible for three non-refundable tax credits. This tax credit was designed to assist caregiver, including those taking care of injured relatives and family caregivers. Caregivers often face […]
Eligible and Non-Eligible Dividends
Understanding Dividends and their Tax Implications in Canada A dividend is a payment made by a business or investment corporation to its shareholders. In Canada, dividends from corporations are subject to lower tax rates compared to other forms of income, such as wages or interest. This is because the corporation has already paid taxes on […]
Streamline Your Small Business Accounting in 11 Simple Steps
Simplifying Small Business Accounting: 11 Easy Steps to Streamline Your Finances Running a small business can be challenging, and the last thing you want is to complicate your accounting processes unnecessarily. In this blog post, we will guide you through 11 straightforward steps that will help you maintain organized business finances, saving you time and […]
Exploring HST-Exemptions Goods and Services in Ontario
Understanding HST Taxation and Exemptions in Canada’s Provinces In Canada, nearly all purchases and imports are subject to taxation. The two primary types of taxes are the general sales tax (GST) and the provincial sales tax (PST), which are combined to create the harmonized sales tax (HST). If you reside in a province that charges […]
Completing Your Ontario Annual Return for This Year
As of October 19, 2021, significant changes have been implemented in the way Ontario corporations register and file their annual returns. This new process involves using the Ontario annual return Business Registry system for informational returns, separate from the traditional Corporate Income Tax Return handled by accountants. This blog post aims to clarify the requirements […]
Full-Time Remote Workers turned Digital Nomads
During the pre-pandemic era, many of us knew someone who had an arrangement with their employer to work remotely, away from the traditional office setting. We would hear stories of their exciting locations and dream about answering client calls while lounging in a hammock between palm trees. While they were initially referred to as telecommuters, […]
ReFILE: Your Complete Guide to Changing Your Tax Return
Revising Your Filed Return with ReFILE Occasionally, it’s common to realize that something important was inadvertently omitted from your filed tax return. Whether it’s a misplaced wallet, a crucial letter left out of the mail, or even a forgotten late slip, these situations can occur. But fret not! The ReFILE Changing Your Tax Return feature […]
Incorporating a Business in Canada
Incorporating a business is a significant decision for entrepreneurs, but it can often appear more complicated than necessary due to the abundance of advice available. However, worry not! This article provides a comprehensive compilation of Ownr’s valuable insights on the process of incorporating a business in Canada. So, let’s dive right in! Understanding the Factors […]
What benefits and credits are available in your province/territory?
As tax season arrives, it’s natural to feel overwhelmed by the tasks at hand. We recognize that the hustle and bustle of this time can bring about numerous inquiries, particularly regarding the credits and deductions available to you. To assist you in optimizing your return this season, we have compiled a list of the most […]