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Tax Information

Canadian tax information for small business owners, from how to calculate and file GST/HST and PST through income tax deductions for sole proprietors and Canadian corporations.
  1. Income Tax Canada (46)
  2. Corporate Tax For Canadian Business (29)
  3. Canadian Tax Software (8)
  4. Home Business Taxes (7)
  5. GST and HST - Goods and Services Tax (47)
  6. Provincial Sales Tax (PST) (13)
  7. Payroll Taxes (12)
  8. Small Business Tax Deductions (39)

Canadian Tax & Your Business
Own a Canadian small business or thinking of starting one? Here's what you need to know about Canadian tax, from income tax and tax deductions through GST/HST and payroll taxes.

Canadian Income Tax and Your Small Business
Do you operate a Canadian small business? This guide presents all the information you need to know about preparing and filing your Canadian income tax return, from which business expenses qualify as legitimate Canadian income tax deductions through details on completing the T1 Personal and T2 Corporate Income Tax Returns.

When Is the Canadian Taxes Due Date?
Wondering when Canadian taxes are due? Here's information on Canadian taxes due dates for both personal income tax and corporate income tax returns.

What Are My Options for Filing Income Tax in Canada?
This Canadian income tax FAQ describes the different options for filing income tax in Canada, including Canadian tax filing online.

Your First Business Income Tax Return
Filing your first income tax return in Canada as a business this year? Here's what you need to know about completing and filing your T1 Canadian income tax form.

Do I have to fill out income tax form T2125?
Do you have business income? Then you need to fill out Form T2125 when you’re preparing your Canadian income tax. Find out more here.

The Most Overlooked Tax Deductions for Canadian Small Businesses
A list of tax deductions many small business owners miss when they're doing their income tax return. See if any of these apply to you.

Corporate Tax Canada Guide
If you need to file Canadian corporate income tax, this Corporate Tax Guide provides details on how to prepare and file corporate income tax.

Business Expenses as Tax Deductions Index
Want to know what you can deduct and how? Use this list of common business expenses for Canadian small businesses.

Canadian Income Tax FAQs for Small Businesses
Answers to common income tax questions such as which income tax forms to use, claiming business expenses, reporting income from other countries, and what happens if you file your taxes late or can't pay what you owe.

Top Canadian Tax Software Programs
If you choose to prepare and file your own Canadian income tax, here are the best income tax software programs for small business people filing Canadian T1 (personal) or T2 (corporate) tax returns.

6 Home Based Business Tax Deductions You Don't Want to Miss
One of the advantages of running a home based business is that there are additional income tax deductions that you can claim. How many of these home based business deductions apply to your Canadian home based business?

What Business Expenses Can a Canadian Business Claim?
An explanation of the types of business expenses that Canadian businesses are allowed to claim on their income tax in Canada. This information on business expenses is part of the Canadian Income Tax FAQs for small businesses.

Can I File Canadian Taxes Online?
Learn if you can or can't CRA Netfile and Efile in Canada and how to do it if you're eligible.

Canada Revenue Agency Online Accounts for Businesses
Learn how your Canadian business can do your business with the Canada Revenue Agency online through its My Account, My Business Account and Represent a Client eservices.

10 Red Flags That Will Get Your Canadian Small Business Audited
Learn what triggers will cause your Canadian small business to be audited by the CRA before you file your taxes.

Annual Allowance
This annual allowance definition explains what kinds of eligible capital property need to be treated as an annual allowance on Canadian income tax.

Book Review: Make Sure It's Deductible
A book review of Make Sure It's Deductible (Fourth Edition) by Evelyn Jacks, which presents Canadian income tax tips for your Canadian small business.

Canadian Tax Quiz
Take the tax quiz and test your knowledge of tax topics such as the GST/HST and income tax deductions. Do you know enough to stay "on the right side of Revenue Canada"?

Business Income
What is business income and how do you declare it on your Canadian income tax? Here are the details.

5 Common Business Tax Myths
When it comes to business taxes, ignorance is definitely not bliss; if you’re not aware of the ins and outs of business taxes, and don’t comply fully with the business tax rules, you can end up facing costly penalties. Here are five of the most common business tax myths – and the truth about business tax deductions.

Getting Your Tax Records Together for Your Accountant
Make getting your tax records together for your accountant easier with this checklist of the key records your tax accountant will need for your income tax preparation - and learn how to save money on your tax accountant’s fee.

How to Find a Good Accountant
The services of a good accountant can be invaluable to your small business - especially when it comes to dealing with taxes . But how do you find a good accountant? These tips for finding a good accountant will help.

8 Tax Strategies To Maximize Your Income Tax Deductions
Eight tax strategies that you may be able to use to reduce the amount of income tax you pay if you operate a small business in Canada.

How Long Does a Tax Refund Take?
How long does a tax refund take after you file Canadian income tax? This Canadian income tax refund FAQ has the answer.

Are You an Independent Contractor or an Employee?
Are you an independent contractor or an employee? There’s a big difference when it comes to taxes. This article explains the four-point test the Canada Revenue Agency uses to determine whether a worker is a contractor or an employee and what you can do to clarify your independent contractor status.

Audit Definition
Basic information on audits such as income tax audits, including how long an audit by the Canada Revenue Agency takes and what such an audit involves.

Business Expenses & Business Losses
What happens when you have business expenses but not enough business income to offset them? This explanation will help you make the most of your business loss (part of the income tax FAQ for Canadian small businesses).

Business Number
Almost every Canadian business needs a business number; here's an explanation of what it is and how to get one.

Canada Pension Plan
A definition of the Canada Pension Plan and an explanation of who has to contribute to CPP and how.

Capital Cost Allowance
Instead of writing off the total cost of any property or equipment you purchase to use in your business, you need to write it off gradually using Capital Cost Allowance. Find out the details here.

Don't Miss out on the SR&ED Tax Credit Program
The SR&ED tax credit program is a great deal for Canadian businesses – and it’s not just for corporations or high-tech businesses. Find out how this Research and Development (R&D) tax incentive might apply to your business.

Efile - Electronic Tax Filing for Income Tax Returns
What is Efile and can you use Efile to file your business income taxes? This Efile definition explains and outlines other electronic tax filing options for Canadian businesses.

How Do I Change My Fiscal Year End?
If you run a Canadian business and want to change your fiscal year end, here’s the procedure for changing your fiscal year.

Maximize Your Small Business Tax Deductions
This first installment of getting ready for tax time covers keeping track of your receipts, small business tax deductions related to the cost of doing business, and income tax deductions for home-based businesses.

More Ways to Maximize Your Business Tax Deductions
The second installment of small business tax deductions covers vehicle business expenses, travel-related expenses, employing your child or spouse, advertising expenses, and the kind of business expenses that fall into the CRA's 'other' category.

Notice of Assessment Definition
Paying taxes or GST/HST in Canada? This Notice of Assessment definition includes an explanation of what to do if you disagree with the Notice of Assessment you receive.

Profit Test
The profit test refers to the business definition used by the Canada Revenue Agency and is used to determine whether a person who claims to be operating a business actually is. Learn more about what the profit test is and how it applies to your Canadian small business here.

Tax Deductions for Home Based Businesses
How does having a home-based business affect your income tax? This outline of tax deductions specific to home-based businesses explains.

6 Year End Small Business Tax Tips
Use these six year end small business tax tips to implement tax-saving strategies before the New Year and reduce this year's income tax.

Business and Professional Income Guide
The page where you can download the Canada Revenue Agency Guide that explains what is and isn't considered business or professional income, allowable expenses, the capital cost allowance, and investment tax credits. MUST reading.

The Business Number and Your CRA Accounts
If your business is incorporated, involves importing or exporting, making payroll deductions, or collecting the GST and/or HST, you'll need a business number; this Canada Revenue Agency guide clearly explains what a business number is and how to get one.

Employee or Self-Employed?
Pamphlet from the Canada Revenue Agency explains the basic distinction between being an employer and working for yourself.

Guide for Canadian Small Businesses
Produced by the CRA, this outstanding guide covers setting up a business, the GST, HST, and excise taxes, payroll deductions, importing and exporting, business expenses, and, of course, income tax. If you haven't already, you should definitely download a copy!

Reconciliation of Business Income for Tax Purposes
A reference for professionals or business people whose usual fiscal period does not end on December 31. Line-by-line instructions are included (CRA; PDF files).

Request for a Business Number Form
From this CRA page, you can download the request for a business number form in PDF format.

Statement of Business or Professional Activities (T2125)
From this CRA page, you can download the Statement of Business or Professional Activities form, an integral part of the income tax form for many self-employed entrepreneurs. (This form replaces form T2124, the Statement of Business Activities form and T2032, the Statement of Professional Activities form.)

Tax Services Offices and Tax Centres
This page, providing links to Canada Revenue Agency Tax Centres in each province and territory, makes it easy to find the address and contact numbers of the Tax Centre nearest you.

What You Should Know About Audits
No one wants one, but just in case, you might want to read this outline of what happens when you're audited, what your responsibilities are, and what happens if you disagree with an assessment. From the Canada Revenue Agency.

How to Calculate Capital Cost Allowance
Need to know how to calculate Capital Cost Allowance? This article explains how to fill in CCA for your Canadian income tax return.

Canadian Small Business Being Audited? 10 Things You Need to Know
Get through the CRA audit of your Canadian small business as painlessly as possible with these tips.

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