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Business InformationSmall 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? | |
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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.
FinancingFederal Business Credit Availability Program (BCAP) - assistance for Canadians and Canadian businesses to obtain financing.
Business Income TaxMy 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. 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. |
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Taxable capital employed in Canada 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? |
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$750,000 capital gains exemption
Employee and partner GST rebate for employees or partners who have deductible employment or partnership expenses Business ExpensesWhat expenses can I write off against my business income? | |||||||||
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What meal and entertainment costs can I deduct? Penalties and fines are no longer deductible business expenses. Eligible capital property, eligible capital expenditures, and cumulative eligible capital deduction Automobiles, Passenger Vehicles and Motor Vehicles - expenses, taxable benefits, GST/HST |
Employees and PayrollShould 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 Tax-free motor vehicle allowances Tax-free (or reduced tax) employee benefits Payroll TaxesCanada Revenue Agency (CRA) T4001 Employers' Guide - Payroll Deductions and Remittances TD1 forms - make sure they are up to date. |
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Calculating payroll deductions and automobile taxable benefits. Late payroll remittances - will I be penalized? T4 slips - when are they required? |
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Canada Pension Plan (CPP) and Employment Insurance (EI) Premiums Recovering overpaid CPP contributions and EI premiums Foreign firms paying employees or self-employed contractors in Canada - what taxes must be withheld? Revised: April 07, 2013
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