Monthly Tax Information

tax tips

Penalties – Given the mindset of CRA and the time of year, a quick review Failure to file an Information Return – $ 25/day, minimum $ 100 and maximum $ 2,500.  Historically, I had not seen this for late filed returns. However, I think it is becoming common practice – especially on ...

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What Is SR&ED And How Is It Defined?

sred - sloan partners

SR&ED is an acronym for Scientific Research and Experimental Development, a federal incentive program for companies performing SR&ED.  Many provinces have similar programs.  In the past several years the Federal Government has issued $3+ Billion, annually, in SR&ED credits. Over the ...

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Dealing With CRA

There may have been a time when CRA auditors priority was enforcing tax law, that time seems to have passed. CRA systematically seems more focused on extorting funds from taxpayers. In one recent case, the taxpayer went to court on whether or not his truck was an “automobile” for the purposes ...

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