TaxTips.ca

BC PST - New Registration Requirements Effective April 1, 2021 there are new registration requirements for #businesses located outside of BC. #bcpoli #BCPST #smallbusiness https://www.taxtips.ca/bcpst/whocollectsbcpst.htm

CERB Repayment Self-Employed #Selfemployed individuals who received #CERB and would have qualified based on gross income will not be required to repay the benefit if they met all other eligibility requirements. #CdnTax #COVIDCanada https://www.taxtips.ca/feder/covid-19-financial-relief.htm

#Quebec pre-budget consultations. You have until Feb 14th to share your comments, suggestions or opinions by sending a brief by email. #qcpoli #qctax #quebectax http://consultations.finances.gouv.qc.ca//20/index_en.html

New 2020 T4 Codes Required for ALL Employers All #employers are required to provide data for 4 new codes on the 2020 T4, for employment income paid from Mar 15 to Sep 26, 2020. T4 due date this year is Mar 1/21. #CdnTax #employees #taxreturns https://www.taxtips.ca/smallbusiness/t4slips.htm

#CEWS Periods and Application Deadlines The deadline for periods 1 to 5 (ending Aug 1/20) applications is Jan 31/21. See our article for when CEWS is included in income. #COVIDCanada #CdnTax #employers #smallbusiness https://www.taxtips.ca//cews-canada-emergency-wage-subsidy

VTN commentary on the recent CERB announcements.

Filing T4 Slips Web Forms will be available for #employers to file up to 100 T4 slips starting Jan 11/21. Don't forget about the extra codes for 2020. #smallbusiness #CdnTax #webforms https://www.taxtips.ca/smallbusiness/t4slips.htm

Apparently those who did not apply because they had net income less than $5,000 will not be able to apply retroactively. #CERB #selfemployed #cdnpoli #CdnTax

#RRSP/#RRIF Withdrawal Calculator Use our calculator to determine your 2021 minimum annual withdrawal, and to estimate your earnings and withdrawals for the next 40 years. Works for non-registered also! #investors #seniors #CdnTax https://www.taxtips.ca/calculator/rrsprrifwithdrawals.htm

More information coming on this from the government tomorrow.

2021 Corporate Income Tax Rates The #smallbusiness corporate income tax rate has been reduced for 2021 in Northwest Territories, Prince Edward Island, Quebec, and Yukon. #CdnTax #nwt #pei #quebec #yukon

Historical Returns on #Investments - Stocks, Bonds, T-Bills 2020 was a good year for #stocks. See returns for 1/5/10/20/41/50 & 71 years, and the growth of $1,000 invested. Over the past 10 years one would be losing money after inflation by investing in Canadian 3-month T-bills or Canadian government 1-3 year bonds. #investing #investors #ROI https://www.taxtips.ca/stocksandbonds/investmentreturns.htm

TaxTips Dec 2020 Newsletter CERB repayments; CRB clawback; Gamers/influencers; T4s; Auto allowances/limits & much more! #employees #selfemployed #investors #WFH #smallbusiness #CdnTax https://mailchi.mp/taxtips.ca/taxtips-dec-2020-newsletter

Investment Return Calculator Use our calculator to determine your returns for 2020 or any time period for a particular #investment or investment account, or your entire portfolio. #investors #InvestmentReturn #investing https://www.taxtips.ca/calculator/investmentreturns.htm