Minimum Wage Rate – Ontario 2022
Minimum Wage in Ontario Effective January 1st 2022. Effective January 1st, 2022 minimum wage in Ontario will be increasing. Minimum wage is the lowest wage rate an employer can pay an…
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Payroll Tax tables are available – Effective from January 1, 2022 to June 30, 2022.
New Payroll Tax tables are available for 1st January 2022 – QuickBooks Desktop. To do the Update, please complete the below steps: On the Home Page or QuickBooks Menu Bar…
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Income Tax Brackets – T1(Personal) – 2022
Income Tax Brackets – T1(Personal) – 2022 Canada’s inflation surged 4.7% in October, its largest gain in 18 years. The primary cause of inflation was sky-high energy and house prices. To…
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QuickBooks Desktop 2022 and Subscription Based Pricing
QuickBooks Desktop 2022 – What’s New Release 1 (R1) – October 2021 What’s important about Release 1? QuickBooks Desktop 2022 is only available through a subscription service Release notes can be…
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Paying Yourself When Incorporated – Salaries vs. Dividends – Corporate Accounting
Salaries vs. Dividends – Corporate Accounting Small business owners often want to find out, if they should be taking dividends from their corporation or paying themselves a salary. There are…
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Corporate Tax – Active Income vs. Passive Income
Active Income Active Business Income (ABI) is income that is generated from a business source and includes any income incidental to your business. For example, if you own a Canadian…
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Bookkeeper’s Guide – Creating an Audit Trail
Keep ALL Your Receipts for an Audit Trail A legitimate business receipt for CRA purposes must contain: Sales under $30 Name of the business Their address Their phone number The transaction date…
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