CRA Archives - McCay Duff LLP Chartered Professional Accountants

Contracting services via a corporation - CRA impact

Do you provide contracting services via a corporation? Do you understand the personal services business rules?

Jennifer Wakeham - BBA, CPA, CGA
CRA, Tax Planning
3 minutes of reading

In recent years there has been a trend for businesses to hire contractors to fulfill long-term positions rather than offering permanent employment. Individual contractors who provide their services through a corporation need to understand the risk that the Canada Revenue Agency (CRA) may assess their corporation to be a personal service business (PSB), especially if they are providing services to just one client. What is a PSB? In its simplest terms, a PSB exists where …

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Avoid the tax trap of starting a new business

Starting a New Business? Avoid the Tax Trap!

Karen Freake - B. COMM, CPA, CA, Partner
CRA, Financial Reporting, Taxes
4 minutes of reading

What an amazing time in life! You have a fabulous business idea, you have the skill to pull it off, and you are going for it! Your family and friends are all behind you and you are ready to start. Off you go… Things start really well, you gain momentum as word of your product or service reaches beyond your personal circle. You begin to focus on delivering to your customers and you are doing …

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When do you Charge HST

April Wheeler - CPA, CGA
CRA, HST, Self-Employed, Small Business
3 minutes of reading

Whether you are self-employed or your business is incorporated, it is your responsibility to ensure you register and collect HST when you meet certain conditions set out by the Canada Revenue Agency (“CRA”). Many small business owners are not aware that whether you are self-employed or incorporated, if your business earns greater than $30,000 in world-wide taxable supplies over any four consecutive calendar quarters you must register for HST, and collect HST, and remit it …

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Red Flags that will get you Audited

April Wheeler - CPA, CGA
CRA, Small Business, Tax Audit
6 minutes of reading

The Canada Revenue Agency (CRA) audits people or companies whose tax returns seem suspicious. CRA is more likely to audit self-employed individuals and small businesses than employees with a T4 slip. CRA has significant industry and demographic data that they utilize to analyze a wide range of tax claims. Any real or perceived differences or outliers to this data could lead to an audit. Often, the first step is not a full audit but a …

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Beware of New Telephone Scams

Paul Spare - CPA, CA
CRA, Fraud Prevention
3 minutes of reading

The following article appears originally on the CRA website and was posted originally on June 10th, 2015. The Canada Revenue Agency (CRA) is noting an increase in telephone scams where the caller claims to be from the CRA but is not, and is asking Canadians to beware—these calls are fraudulent and could result in identity and financial theft. Some recent telephone scams involve threatening taxpayers or using aggressive and forceful language to scare them into paying fictitious debt to …

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CRA

Do you provide contracting services via a corporation? Do you understand the personal services business rules?

Starting a New Business? Avoid the Tax Trap!

When do you Charge HST

Red Flags that will get you Audited

Beware of New Telephone Scams

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