Deducting Home Office Expenses During COVID

Since March, employees across Canada have shifted from working in offices to working from home. You’ve likely set up your home office with relevant equipment (e.g. desk, chair, monitors). You’re using your home internet. You’re occupying space in your home to work, as well as potentially heating and cooling your home more than you did…

Remittances: Send Them Away to the CRA

Annually, quarterly, monthly, biweekly, We love it when you close on time. 5 days prior, please end your period promptly, And we’ll send the funds over, down to the last dime.   Remittances are a task that all business owners have to endure. No matter how big or small your business is you need to…

Electronic Distribution of T4 Statement of Remuneration Paid (aka T4 Slips)

The 2017 Federal Budget proposes to allow employers to issue electronic versions of T4 slips to employees.  We’ll explain the Budget announcement and its goal to reduce the administrative burden for employers.  The changes specifically impact electronic issuance of T4 Statement of Remuneration paid slips, not other types of slips at the moment. Current Requirement…

Tax Season – Frequently Asked Questions

As tax season approaches, my colleagues and I are always shocked by how quickly the Summer and Fall passed us by, bringing us closer to “that time of the year” again. This year is no different.  We’re in mid-February and the rush has slowly started.  Lots on the go – Payroll slips, December year-ends, GST/HST…

5 Tips to Make Tax Season More Bearable For Your Business

Collect your receipts: With today’s cloud technology expense receipts can be collected immediately By using something as simple as a shared email or even shared folders, you can instantly provide these items to your accountant.  Importantly, as you incur tax deductible expenses, your accountant can use them to reduce the mad scramble during tax season. Share access to…

It’s tax (slip) season

The deadline for filing your 2015 T4 tax slips is Monday, February 29th, 2016. You must provide your employees with a paper or electronic copy of their T4 by this date. So it’s crunch time for preparing T4 tax slips in Canada. You also need to provide copies of the T4 slips to the Canadian Revenue…

Preparing for year end – tax slips

With year end fast approaching, businesses have to make sure that they are well prepared for the upcoming tax season. It is important to make sure that your payroll account is all in order to issue the T4 and RL-1 slips to employees and contractors before the deadline. The good news is that your PaymentEvolution Payroll…