CRA uses risk-based selection driven by data-matching and industry benchmarking. The most common audit triggers for an Ontario CCPC are: unresolved shareholder-loan balances, repeated business losses on T2125 or Schedule…
Only up to your business limit. The Small Business Deduction under ITA s. 125 gives a Canadian-controlled private corporation (CCPC) the lower federal corporate tax rate on the first $500,000…
The T2 corporate income tax return is due six months after your fiscal year-end under Income Tax Act s. 150(1)(a). Corporate tax owing is due earlier: two months after year-end…
The 10-step 2026 estate freeze playbook — valuation, share reorganization, family trust, TOSI review, and CRA filings from a Mississauga LPA.
The 8-step playbook to incorporate an Ontario Holdco in 2026: purpose, structure, share classes, Section 85 transfer, minute book, banking, and CRA numbers.
CRA’s Voluntary Disclosures Program (Information Circular IC00-1R6) lets you file overdue HST returns and pay the tax to obtain penalty relief and partial interest relief, provided your application is voluntary,…
You must keep every HST-related record (sales invoices, purchase invoices, GST34 returns, working papers supporting ITCs) for six years from the end of the last tax year they relate to,…
Yes, at the rate of the customer’s province under the place-of-supply rules in ETA Schedule IX and Part IX regulations. Selling from Ontario to New Brunswick, Newfoundland, Nova Scotia, or…
Yes. If you are a GST/HST registrant and you buy commercial real property to use primarily (more than 50%) in a commercial activity, you claim a full input tax credit…
You must register for HST as soon as your worldwide taxable revenues (including zero-rated) exceed $30,000 in any four consecutive calendar quarters or in a single quarter. This is the…
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Insight Accounting CPA
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