Finally, after two years without a budget, we have one! Congratulations Canada. Every year during both the First and Second World Wars the federal government of Canada released an annual budget detailing its revenues and expenditures. But for the past two years, the...
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CERB will be ending on September 26thThen, starting September 27th for a period of one year, EI will be enhanced and changed as follows:Those who are eligible for EI will need to have worked 120 hours in the 52 weeks prior to applyingThose eligible will...
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As a Canadian tax accountant, I experience my share of frustrating and eye-opening stories as a result of our country’s onerous tax system. One story I will never forget is when one of my favourite clients left me forever. Why did he leave me? The answer may shock...
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Why does everyone in Canada have to file a tax return each year? Why is the calculation of federal tax nine pages long? Why does the Canada Revenue Agency (CRA) need to send letters in pulse-quickening brown envelopes demanding documentation for amounts claimed in our...
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Like most Canadians, I don’t enjoy paying my bills every month. But what particularly frustrates me is the tax on tax we pay in some of our bills. Every month when I pay my utility bill, I become filled with rage and madness. Like most accountants, one hopes, I...
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Since that fateful day, March 13, when the federal government announced that “no one should have to be concerned about job security and financial hardship should they require self-isolation,” I have been awestruck by the federal government’s “Design programs...
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Forgive me for being skeptical but I am predicting the $82-billion fiscal plan Ottawa announced this week will turn into a bureaucratic nightmare for individuals, families, accountants, small businesses and employees at the CRA. The government is patting itself on the...
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Election season has arrived and with it, ridiculous new tax policies being proposed. Every major political party is guilty of this. Let’s jump right in to this mess and begin with the Liberals since they are currently in power. The Liberal government established...
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