Information For Business Owners
Small business - start, buy or forget it?
What books and records must be kept for a business?
How does a self-employed person choose a year-end when starting a business?
Should you incorporate your small business?
Are you an employee or a self-employed independent contractor?
Free taxation seminars and other training for small business owners
Competing for federal government contracts - assistance for small businesses.
Elimination of the Penny - businesses and consumers
Look on our Links page for Provincial Web Sites for Business Information and Services.
Bringing personal assets into your business - from Canada Revenue Agency
Ceasing Business - some of the things that must be done if you are closing down your business
Business Income Tax
My Payment - an online service from CRA to make payments to them directly from your bank account.
My Business Account - an online service from CRA that allows you to manage tax-related information for your business.
Corporate Income Tax Return - links to forms, information on filing and payment deadlines
Are both personal and business tax returns needed if I have a small business?
Deadline for filing a tax return for a self-employed person.
Personal Services Businesses (incorporated employees) pay higher corporate income tax rates
Specified Investment Businesses (principally earning property income) pay higher corporate income tax rates
Self-employment losses can be carried back 3 years, and can be used to offset other income.
Small business financial statements - do they have to be audited?
Business losses - can I write them off against other income?
Employee and partner GST rebate for employees or partners who have deductible employment or partnership expenses
What expenses can I write off against my business income?
Penalties and fines are no longer deductible business expenses.
Automobiles, Passenger Vehicles and Motor Vehicles - expenses, taxable benefits, GST/HST
Employees and Payroll
Should I pay myself a salary from my business? What deductions would apply?
Minimum wage rates and other employment standards in Canada
Private Health Services Plans - a tax-free benefit for employees and/or shareholders
Employee loans and loan subsidies may result in a taxable benefit to the employee
Canada Revenue Agency (CRA) T4001 Employers' Guide - Payroll Deductions and Remittances
TD1 forms - make sure they are up to date.
Calculating payroll deductions and automobile taxable benefits.
Late payroll remittances - will I be penalized?
T4 slips - when are they required?
Foreign firms paying employees or self-employed contractors in Canada - what taxes must be withheld?
Revised: July 27, 2016
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