CRA Updates

Keeping accurate records for GST/HST and payroll is a critical responsibility for Canadian businesses. These records not only ensure compliance with tax laws but also help avoid costly errors and audits. This guide explains what you need to know about maintaining GST/HST and payroll records, with practical tips to keep your business organized and compliant. Detailed Canadian business ledger showing GST/HST and payroll records What Are GST/HST Records and Why Are They Importan

Corporations operating in Canada face the obligation to pay not only federal income tax but also provincial and territorial corporation taxes. These taxes vary depending on the jurisdiction where the corporation has a permanent establishment. Understanding how to calculate and report these taxes correctly is essential for compliance and optimizing tax positions. Canadian tax form showing provincial and territorial tax sections How Provincial and Territorial Corporation Taxes

Corporation tax rates in Canada can seem complex, especially with the mix of federal and provincial rules. For accounting professionals and business owners, understanding these rates is essential for effective tax planning and compliance. This guide breaks down the key elements of corporation tax rates across Canada, explaining federal rates, provincial variations, and special cases like small business deductions. Canadian flag outside government building, symbolizing federal