BLUEWATER BOOKKEEPING CO.

Save yourself time and money with these tax tips from CRA:

http://www.cra-arc.gc.ca/nwsrm/txtps/2017/tt170209-eng.html

Are you starting a new business?  There are many things to consider, but before you start CRA has important information for you.  Click HERE.

Time to put your year end expenses together!  CRA allows you to “deduct part of your maintenance costs such as heat, home insurance, electricity, and cleaning materials. You can also deduct part of your property taxes, mortgage interest, and CCA. To calculate the part you can deduct, use a reasonable basis such as the area of the work space divided by the total area of your home.”

Line 9945 – Business-use-of-home expenses

“The BC Business Corporations Act requires all incorporated companies to file information about the company with the Corporate Registry office”.

Click HERE for more information.

It happens …. a vendor charges GST but is not a GST/HST registrant! It is up to you to ensure that your claims for input tax credits only include GST/HST charged by someone who is registered with CRA for GST/HST.

Verify GST/HST #’s here:
http://www.cra-arc.gc.ca/gsthstregistry/

“Don’t blame the accountant for your ‘gross negligence’ — you are 100% responsible for your returns”  …. writes the Financial Post.  Click HERE to read more.

If you or your spouse or common-law partner carried on a business in 2015 (other than a business whose expenditures are primarily in connection with a tax shelter), your return for 2015 has to be filed on or before June 15, 2016. However, if you have a balance owing for 2015, you have to pay it on or before April 30, 2016.

For more information visit the CRA website.

Ransomware can be very real to and your business … click HERE to read more.

The Fraser Institute has declared June 7th as the day the average Canadian family begins earning money for themselves. Click HERE to read CBC’s full article.

Reader-friendly, plain-language overview of Budget 2016.