taxes

Canadian dollars (loonies) are pictured in Vancouver, Sept. 22, 2011. A new study says a basic income program would help alleviate poverty in Canada but could also put the fiscal sustainability and labour supply of some provinces at risk.THE CANADIAN PRESS/Jonathan Hayward

Basic income would ease poverty, put sustainability, labour supply at risk: study

Funding such a program would likely require increasing taxes or cutting government spending

 

MP Rob Anders comments on being defeated by Ron Liepert during the Calgary Signal Hill federal Conservative nomination, in Calgary on Saturday, April 12, 2014. Anders may not find the welcome mat out as he attempts to make the move from a big-city riding where he lost his nomination to a brand new rural one.THE CANADIAN PRESS/Larry MacDougal

‘Very relieved’: Crown stays tax evasion charges against former Calgary MP Rob Anders

Anders first elected as a Reform MP in 1997 and was a co-founder of the Conservative Party of Canada

 

Small business owners are feeling the pinch from inflationary pressures and taxes. (Black Press File Photo)

B.C. small business owners worried about tax bills, inflation

A survey from Ownr found 31 per cent of small business owners are worried about their tax burden

 

A sign outside the Canada Revenue Agency is seen Monday May 10, 2021 in Ottawa. THE CANADIAN PRESS/Adrian Wyld

QUIZ: The taxman cometh

As Canada’s income tax deadline nears, how much do you know about taxation?

A sign outside the Canada Revenue Agency is seen Monday May 10, 2021 in Ottawa. THE CANADIAN PRESS/Adrian Wyld
“As with all businesses, ecommerce business owners must complete the applicable T2125 business schedules within the T1 Personal tax return, or in the case of an incorporated business, the T2 Corporate return’s Schedule 88.”

Delving into e-tailing, the use of electronic means to sell goods and services

Tax Tips & Pits by Ron Clarke

  • Apr 17, 2022
“As with all businesses, ecommerce business owners must complete the applicable T2125 business schedules within the T1 Personal tax return, or in the case of an incorporated business, the T2 Corporate return’s Schedule 88.”
“CRA emails will never have an attachment. CRA will never ask you to reply to an email.”

Tax season or scam season?

Ron Clarke, owner of JBS Business Services in Trail, provides accounting and tax services.

  • Apr 7, 2022
“CRA emails will never have an attachment. CRA will never ask you to reply to an email.”
” Track down the “T” slips regardless of value, and ensure they get entered on your tax return. And if you can’t get the official “T” slip, estimate the value and enter it, at least then you can say you tried.”

Little known tax penalty is no joke

by Ron Clarke Did you know that if a taxpayer fails to…

  • Apr 5, 2022
” Track down the “T” slips regardless of value, and ensure they get entered on your tax return. And if you can’t get the official “T” slip, estimate the value and enter it, at least then you can say you tried.”
Fraudsters and mail thieves crank up their game during tax season. Don’t fall for it warn the RCMP. Photo: Unsplash

B.C. RCMP warn, ‘Keep your guard up during tax season’

No police officer is going to call about income tax

Fraudsters and mail thieves crank up their game during tax season. Don’t fall for it warn the RCMP. Photo: Unsplash
An autoworker is seen on the general assembly line producing the Chevrolet Silverado, at the General Motors plant in Oshawa, Ont., on Tuesday, Feb. 22 2022. THE CANADIAN PRESS/Chris Young

Canada’s middle-aged, single parents, recent immigrants taxed harder for extra income

Federal study details workers whose extra earnings get dinged most by tax system

An autoworker is seen on the general assembly line producing the Chevrolet Silverado, at the General Motors plant in Oshawa, Ont., on Tuesday, Feb. 22 2022. THE CANADIAN PRESS/Chris Young
Tax Tips & Pits: “If you have ever completed a medical claim on your personal tax return you likely know that it’s not a straightforward process.”

Attendant care, nursing home, and the disability tax credit

This type of claim involves many rules, and many variations on those rules.

  • Mar 10, 2022
Tax Tips & Pits: “If you have ever completed a medical claim on your personal tax return you likely know that it’s not a straightforward process.”
“A reminder from the 2020 tax season. For those who received a COVID benefit during 2020 and also had taxes payable, qualified for an interest free extension to pay their taxes. That extension ends April 30, 2022, and is coming quickly.”

What’s new for 2021 income tax prep?

Ron Clarke, owner of JBS Business Services in Trail, provides accounting and tax service

  • Mar 3, 2022
“A reminder from the 2020 tax season. For those who received a COVID benefit during 2020 and also had taxes payable, qualified for an interest free extension to pay their taxes. That extension ends April 30, 2022, and is coming quickly.”
Enquiries may be directed to the Trail FAIR Society at 250.364.2326 or email: cvitp@gmail.com. Photo: Unsplash

Free tax service for Greater Trail low-income earners starts March 1

Community Volunteers Income Tax Program getting ready to prepare income tax forms

Enquiries may be directed to the Trail FAIR Society at 250.364.2326 or email: cvitp@gmail.com. Photo: Unsplash
“Until an agreement is in place, any payments made cannot be considered spousal support and cannot be reported to CRA by either the payer or recipient.”

Tackling a common tax season topic — spousal support payments

Typically if the agreement has an unqualified sunset clause CRA will deny a claim of spousal support

  • Feb 24, 2022
“Until an agreement is in place, any payments made cannot be considered spousal support and cannot be reported to CRA by either the payer or recipient.”
A sign outside the Canada Revenue Agency is seen Monday May 10, 2021 in Ottawa. THE CANADIAN PRESS/Adrian Wyld

Another ‘unique’ tax-filing season opens in Canada amid pandemic challenges: CRA

CRA says it has not extended the tax filing deadline, which remains April 30 for most Canadians

A sign outside the Canada Revenue Agency is seen Monday May 10, 2021 in Ottawa. THE CANADIAN PRESS/Adrian Wyld
Up to 50 per cent of the eligible pension can be split with the spouse of any age but if under 65, there is a restriction on types of eligible pension.

Word of caution; optimizing a pension split is not simple

Tax Tips & Pits with Trail business owner Ron Clarke of JBS Business Services

  • Feb 17, 2022
Up to 50 per cent of the eligible pension can be split with the spouse of any age but if under 65, there is a restriction on types of eligible pension.
“The taxation impact of a tax credit is not always 100 per cent of its reported value, but a percentage of that amount. In other words, a dollar is not always worth a dollar.”

‘Sometimes tax credits create benefit beyond tax reduction’

Tax Tips & Pits with Ron Clarke, Trail business owner

  • Feb 10, 2022
“The taxation impact of a tax credit is not always 100 per cent of its reported value, but a percentage of that amount. In other words, a dollar is not always worth a dollar.”
File photo

Tax Tips and Pits: Perks from employer

Are you an employer who bestows gifts, awards, staff parties, even cash upon your staff?

  • Feb 3, 2022
File photo
Ron Clarke is owner of JBS Business Services in Trail, providing accounting and tax services.

Are you a B.C. contractor? Brushing up on contractor income reporting

Tax Tips & Pits with Ron Clarke, Trail business owner

  • Jan 27, 2022
Ron Clarke is owner of JBS Business Services in Trail, providing accounting and tax services.
NDP Leader Jagmeet Singh holds a press conference on Parliament Hill in Ottawa on Wednesday, June 23, 2021. Singh says he would deal with Canada’s multi-billion deficit through its long-standing promise to tax the mega-wealthy. THE CANADIAN PRESS/Sean Kilpatrick

Jagmeet Singh says NDP would tackle Canada’s deficit through taxing the ‘ultra rich’

He added he would target web giants such as Google, Netflix and Amazon

NDP Leader Jagmeet Singh holds a press conference on Parliament Hill in Ottawa on Wednesday, June 23, 2021. Singh says he would deal with Canada’s multi-billion deficit through its long-standing promise to tax the mega-wealthy. THE CANADIAN PRESS/Sean Kilpatrick
Finance Minister Chrystia Freeland holds a press conference in Ottawa on Tuesday, April 20, 2021. THE CANADIAN PRESS/Sean Kilpatrick

Finance minister says Canada is committed to proposed global corporate tax rate

A global corporate minimum tax rate is now supported by 132 countries

Finance Minister Chrystia Freeland holds a press conference in Ottawa on Tuesday, April 20, 2021. THE CANADIAN PRESS/Sean Kilpatrick