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Your source for expert commentary and information in the fields of tax, accounting, human resources, estate planning and technology.

Do recent changes to CCA rules affect your business?

Capital Cost Allowance (CCA) is the tax equivalent of depreciation—it is the portion of the total cost of eligible capital assets that can be deducted for Canadian tax purposes. The first year CCA is claimed, businesses are generally limited to a deduction equal to half the amount calculated using an asset’s specific CCA rate. This […]

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Is my Canadian Corporation required to file a U.S. tax return?

Every now and then a client with U.S. customers or U.S. sales agents will ask us if they are required to file a U.S. tax return. As a foreign corporation, the IRS requires you to file Form 1120-F if, during the tax year, your corporation: was engaged in a trade or business in the U.S.—regardless […]

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The Current Status of Apprenticeship Credits for Ontario Employers

In November of 2017, the Apprenticeship Training Tax Credit—a refundable provincial tax credit based on salaries and wages paid to apprentices—was eliminated for any apprenticeship contract registered after November 14, 2017. At the time, it was announced that this credit would be replaced by the Graduated Apprenticeship Grant for Employers (GAGE). However, the Ontario Government […]

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Is your company eligible for increased SR&ED tax credits?

The Scientific Research and Experimental Development (SR&ED) program was created to encourage Canadian innovation by providing tax incentives to conduct business research and development in Canada.All eligible businesses can earn a non-refundable investment tax credit (ITC) at the basic rate of 15% on qualified SR&ED expenditures. The program offers additional support to Canadian-controlled private corporations (CCPCs)—with a refundable […]

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