Do you have a real financial plan?

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You have an accountant who diligently prepares your tax returns, and if you have a business, your financial statements, a financial advisor who recommends appropriate investments, and a lawyer who prepared a Will and advise on estate planning matters. But chances are they don’t know if the ...

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Is Cryptocurrency Subject to GST/HST? – The Answer is Unfolding as We Speak

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If the world of cryptocurrency appears to you as a “Wild West” it is because it is.  Fortunes are made and lost overnight.  Equally buffeted or flat-footed by the cryptocurrency events are the taxing authorities.  The Canada Revenue Agency promulgated their initial positions on cryptocurrency ...

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Don’t Underestimate the Importance of Tax Planning

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Taxes are a tricky business, making tax planning an essential tool for any business to plan ahead effectively. Regular tax planning can help business owners lower the amount of taxable income, reduce the tax liability, and gain more control of when taxes are paid. At Sloan Partners, we see ...

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How long should you keep your tax files?

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Clients often ask us how long do they have to keep old files and documents.  Generally, CRA is able to reassess during a four year period after they issue a Notice of Assessment.  CRA’s guidelines, however, recommend that documents be kept for seven years. In spite of this, a recent Tax Court ...

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Making Sense of Your T4A Slips

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With the Canada Revenue Agency payroll filing deadline rapidly approaching, employers often ask what slips to issue to individuals not on the payroll, including self-employed contractors, casual labour, or other payments made to individuals for services. This question is often prompted by the ...

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CRA’s Liaison Officer Initiative

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CRA has recently launched a new program called the “Liaison Officer Initiative”. The LOI program offers a CRA representative who can provide in-person guidance, support, and information that will help you understand and navigate the tax system.  CRA says that “the LOI the CRA is shifting its ...

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Trump’s Tax Policy: What You Need to Know

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Complimentary Wolters Kluwer Special Report Post-Election Tax Policy Update Donald Trump’s election as the 45th President of the United States on November 8 is expected to bring big changes to the tax laws for individuals and businesses. President-elect Trump had made tax reduction a ...

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Self-Employed? Find Out If Employment Insurance is Right for You

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Most employees in Canada are required to contribute to Employment Insurance (EI), a national program designed to provide temporary benefits for individuals unable to work. Those eligible for EI can receive regular EI benefits in the event they lose their job or qualify for special benefits, ...

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Seven Tips for a Better Tax Return


If you’re like most business owners the June 15 tax filing deadline with the Canada Revenue Agency is a date that’s etched in your brain.  But so many business owners procrastinate, putting off the inevitable and end up in a mad dash to get their taxes completed to meet the looming deadline.  ...

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The Scoop on Post Election/Year-End Tax Planning


Prime Minister Justin Trudeau recently named Bill Morneau, the rookie Toronto MP, as Canada’s new Minister of Finance. Morneau’s first priority will be to make good on Trudeau’s promise to reduce taxes on the middle class by raising them on the wealthy. He has a big job ahead of him since ...

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