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Cryptocurrency taxation in Canada
Cryptocurrency or “crypto” has become a growing presence in today’s market. Constantly evolving, there is limited guidance on its tax treatment as the legislation attempts to catch up. Holders of cryptocurrency must understand the reporting obligations and Canadian tax considerations associated with it. When to report? Cryptocurrency should b ... Read more
Commercial real estate in the hybrid working era
Over the past two years, all indications are that hybrid workplace model adoption is not only growing but will stay a dominant choice for the foreseeable future. This is a result of a number of factors, including the significant investments businesses have made in remote work infrastructure capabilities, and the growing employee demand for choices ... Read more
Capital Cost Allowance: Important changes and updates
Many Canadian businesses use depreciable capital assets such as machinery or equipment in their operations. As businesses grow and change, new capital property is acquired to improve processes or to replace old assets at the end of their useful life. For income tax purposes, the cost of eligible property can be deducted over time by ... Read more
Reducing the risk of business fraud
Employees are entrusted to safeguard and control bank accounts, receivables, inventory, and the books and records of the company. While most employees will never abuse this trust, those who do commit fraud schemes can cause organizations to suffer significant financial losses. Fraud perpetrated by employees is known as “occupational fraud”. The ... Read more
Top four tax and accounting mistakes made by entrepreneurs
Let’s face it – as a business owner, your time is a precious commodity. You’ve got a business to run and grow, and your time is not best served brushing up on the latest business accounting rules and regulations. But accounting is an important function in every business, and any one of these tax or accounting mistakes ... Read more