Tax Tips
SR&ED: EXPENDITURE LIMITS
The eligible expenditure limit can have a huge impact on your tax credits from Scientific Research and Experimental Development (“SR&ED”) programs. Is your tax planning strategy taking this into consideration? December 11, 2012 As many small businesses involved in SR&ED activities know, the tax credits available can be a huge tax relief, and in some…
2012 YEAR-END TAX PLANNING
With the arrival of December we all become aware that the year-end is quickly approaching. December 17, 2012 Although most of us realize that paying taxes is part of life and essential to ensure that we continue with our current lifestyles, we don’t want to pay more than our fair share. We each should set…
EMPLOYEE OR SELF-EMPLOYED?
Employee Status – How Can I Tell If I Am Self-Employed or an Employee? April 10, 2013 Of all the questions asked of our firm, the issue of one’s status as an employee or self-employed is the most frequent and hardest to answer. It is hard to answer because there are no hard and fast…
EXPENSES INCURRED AT THE GOLF COURSE
Can I Deduct Meal Expenses Before or After a Round of Golf? April 17, 2013 Perception is reality, especially Canada Revenue Agency’s perception of legitimate business entertainment versus pleasure. Traditionally, the CRA has taken a very strict view on entertaining clients, employees, and suppliers at clubs, camps, lodges, golf courses, and on yachts. Unless your…
CANADA PENSION PLAN
March 4, 2016 While it is always a good idea to have some retirement savings set aside, the Canadian government has programs available that can supplement your retirement income. There are two main federal government retirement programs: the Canada Pension Plan, and Old Age Security. When planning for retirement, there is some discretion as to…
OLD AGE SECURITY
March 4, 2016 There are two main federal government retirement programs offered by the Canadian government: the Canada Pension Plan, and Old Age Security. In a previous tax tip, we discussed the characteristics of the CPP program and the impact of taking it early or deferring it to receive later. This tip will focus on…
“RUMOUR HAS IT…” – CAPITAL GAINS RATES
A potential increase in the capital gains inclusion rate next budget could cause an increase in your tax bill March 14, 2017 Currently when a capital gain occurs, only 50% of the gain is considered “taxable”. For a personal taxpayer, this 50% taxable capital gain is subject to the marginal tax rates of the taxpayer;…
TAX TIPS
March 14, 2017 “Rumour has it…” – Capital Gains Rates May 10, 2016 CRA isn’t going to send you to jail over the phone March 4, 2016 Ontario Retirement Pension Plan March 4, 2016 Old Age Security March 4, 2016 Canada Pension Plan April 17, 2013 Expenses Incurred at the Golf Course April 10, 2013…
Cannabis in the Workplace
The Greater Kingston Chamber of Commerce and Wilkinson & Co. LLP present an informative seminar on Cannabis in the Workplace. A look at the impact of cannabis in the workplace from a Human Resource perspective. Learn how businesses can prepare for the forthcoming legalization of cannabis and related products. Identify best practices and create an…
Belleville’s New Office opens its Doors – October 17th
Wilkinson’s Belleville team opened the doors to their new location on Monday, October 17th. The new office will provide our team with a comfortable new working space, a relaxing staff lounge and an exercise room. Our clients are sure to appreciate the spacious new meeting rooms and the operational efficiencies the new facility will afford.…