Small Business Deduction 2024: $500K Limit, Associated Corporations, and Traps
The small business deduction reduces the federal corporate rate from 15% to 9% on the first $500,000 of active business income. But associated corporations must share the limit, and passive income can claw it back.
SR&ED Claims: What CRA Is Looking for in 2024 and How to Survive an Audit
Scientific Research and Experimental Development claims attract CRA scrutiny. Technical reviewers look for documented experiments, iterative development, and technological uncertainty. This guide shows what a defensible claim looks like.
Uber, DoorDash, Airbnb: How to File Taxes as a Gig Worker in Canada
Gig economy income is self-employment income in Canada. You must register for a GST/HST number once you exceed $30,000 in revenue, report income on Form T2125, and track eligible deductions including vehicle expenses and platform fees.
CEWS to CRHP: The Hiring Incentive Replacing the Emergency Wage Subsidy
The Canada Recovery Hiring Program replaced the Canada Emergency Wage Subsidy for most employers from June 2021. The CRHP subsidized the incremental cost of hiring new employees or restoring laid-off workers' hours.