by James Gustafson | Aug 4, 2010 | Taxation
The Voluntary Disclosure Program is run by CRA to allow taxpayers to report additional unreported income from prior years or to correct overstated expenses. Examples of this may include unreported cash tips for service workers, foreign pension income or other...
by James Gustafson | Jul 7, 2010 | Incorporation, Taxation, Uncategorized
This blog will discuss some of the typical decision making processes that you should consider when discussing with your accountant the most efficient form of receiving income from your company. Each situation will, of course be unique, and even the same individual may...
by James Gustafson | Jun 29, 2010 | Uncategorized
As a chartered accountant in Victoria, this is one of the most common questions that I hear. The simple answer is yes, tax returns may be amended up to 10 years after they were filed. This may be done for personal or corporate tax returns. Why would you want to...
by James Gustafson | Jun 25, 2010 | Uncategorized
As a business owner with a successful company have you ever wondered if you might benefit from a holding company? The answer may well be yes. Simply put a holding company is a company established to “hold” the shares (or other significant assets such as...
by James Gustafson | Jun 17, 2010 | Taxation
A big issue with the new Tax free savings accounts (TFSA) was revealed this week when the Canada Revenue Agency announced that it had issued more than 70,000 letters to taxpayers for penalties related primarily to over-contributions to TFSA accounts. Many people...
