P&P Accounting
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Here is an HST tip for TIP RECEIVERS. Cosmeticians, taxi drivers, hair dressers, restaurant servers etc . Ever wondered if you should collect HST on the tips your customers give you? The answer is ... NO. As long as the tip amount is optional to the customer and it is not part of the original bill. If the tip is mandatory and is part of the original bill, then HST applies to it.

Renting part of your principle residence tax consequences? As most taxpayers know, when you sell your principle residence, the capital gain on the disposition is exempt from tax as it is protected by a principle residence exemption. But many people are asking if the gain is protected if they rent portion of their house while still living in it. What if they rent more than 50% of the house? It is the CRA’s practice to consider that the entire property retains its nature as ...a principal residence, where all of the following conditions are met: a) the income-producing use is ancillary to the main use of the property as a residence. This means that the property is ordinarily inhabited in the year by the taxpayer or by his spouse/former spouse or a child. b) there is no structural change to the property; and c) no CCA is claimed on the property. See more

Свежий подкаст в котором я отвечаю на вопросы Artem Bytchkov на животрепещущею тему - субсидии от гос-ва по поводу COVID 19 - http://www.pp-accounting.com/Blog/Post/podcast

I am updating my website daily with info about GOVERNMENT COVID FINANCIAL SUPPORT. Whether you are an employee, employer, business owner - all the available info is closely monitored and summarized. Check for updated daily. http://pp-accounting.com/

There is so much info on the web about the government support. I put 3 simple articles on my blog on the following topics. Hopefully it will help people. Please note that the government is changing the info almost daily and programs are changing rapidly. I will be updating on my website. Visit, for most up to date info. Link below. 1. Canada Emergency Response Benefit - This benefit is available to workers, including people not eligible for EI 2. EI - info for employees and e...mployers. The ROE codes to use and how EI works 3. UPDATE - THIS SUBSIDY IS GETTING REVISED. CHECK MY WEBSITE FOR NEW UPDATES. Temp wage subsidy available to employers paying salary - even people who own their own corporation and are taking salary to themselves. Can reduce the remittance amount. http://www.pp-accounting.com/Blog/Index/#E6B1D82D

Latest on government response to help Canadians to financially cope with COVID-19 https://www.canada.ca//departm/economic-response-plan.html

*****TAX DEADLINE EXTENDED FOR 2020 ***** Instead of an April 30 filing deadline for the 2020 tax season, Canadians will have until June 1 to submit their income tax return to CRA. The deadline to pay off any outstanding balances interest-free will also be extended by a month, to July 31. Businesses will also have an extra month to file their taxes, meaning a July 31 deadline.

#taxtips #accountant Attendant care for a disabled relative is a large expense . It is deductible. There are special rules when claiming the disability amount and attendant care as medical expenses. Options should be examined to make the most out of it for your family. 1. For example if you hire a nanny to care for a disabled child, the deduction could be taken as a childcare expense or as a medical expense . Depending on the income of parents , one or the other is more bene...ficial. 2. When attendant care is provided at home it can be claimed as a medical expense or a disability amount can be claimed but not both . Again , depending on the amount paid , need to decide what works best . 3. Fees paid for an attendant care in a nursing home - disability amount or the fees paid but not both 4. Salaries and wages for attendant care - disability amount and up to $10,000 of the fees. https://www.canada.ca///rc4065/medical-expenses-2016.html

If you pay your child (under 18) to babysit his/her sibling , it is NOT an eligible childcare deduction. #taxtip #accountant

If you are supporting financially an adult relative who has a disability, most likely you are eligible for a $7,140 tax credit. For example, you are paying for a nursing home where your mother or grandmother resides. Dependent’s income should be lower than $23,906. #taxtips #accountant

#taxtips #accountant Postsecondary studies outside Canada DO qualify for the tuition tax credit. Under the Income Tax Act, students can claim the tuition tax credit for postsecondary studies abroad if they are in full-time attendance at a university outside Canada in a course leading to a degree AND a course of at least three consecutive weeks duration. Foreign university would need to sign form TL11A certificate for the taxpayer. The tuition tax credit can be used by a student, carried forward to a future year or transferred to a parent/grandparent.