Is the GST ‘Quick Method’ right for your small business?
If you run a small business, you may have heard that the Canada Revenue Agency (“CRA”) allows GST reporting in one of two ways – the Standard Method, or the Quick Method. If your business qualifies for the Quick Method, an election must be filed with the CRA to remit GST under the Quick Method.…
Business Loans – how to prepare a winning loan request
Applying for a business loan may seem daunting, however, our friends at BDC have prepared a guide to preparing a winning loan request. Here is some recommended information/documentation to prepare for an effective loan proposal: 1) Historical financial information: a. Financial statements will help lenders assess the state of your business. 2) Identify your investment…
Vacation Shaming: You deserve a break today!
Everyone loves going on vacation right? Well according to this article, taking vacation can be a source of stress and worry for many employees. The article cites surveys done in both Canada and the U.S. that show that the number of people reporting that they have been made to feel guilty about taking vacation or…
5 scams that took the most money out of Canadian pockets last year
Canadians are losing millions each year to a growing variety of complex scams. Based on a report from the Better Business Bureau, we rounded-up the top five cons in Canada from 2017, ranked by the claimed amount of money lost. WIRE FRAUD AND SPEAR FISHING Financial loss: More than $20-million Various phishing scams have been floating around the…
HGA Update on Proposed Tax Changes
After the outrage by Canadians during the consultation process, the Liberals decided to back down. Instead they have offered to reduce the small business tax rate from 10.5 per cent to 9 per cent by January 1, 2019. Although the Liberals have retracted their changes to the lifetime capital gains exemption (for now), they…