Tax & Business Tips

Pension Income SplittingUp to 50% of certain pension income may be allocated to your spouse’s tax return

Registered Retirement Savings Plan (RRSPs)
  • Contribute by March 1, 2021, to receive a deduction on your 2020 income tax return
  • The maximum contribution for the 2020 taxation year is $27,230 (2021 = $27,830)

Registered Education Savings Plan (RESPs)Receive a 20% grant on the first $2,500 of annual contributions

Home Buyers’ PlanYou (and your spouse) can “borrow” up to $35,000 from your RRSP for the purchase of a home

HST New Housing RebateDid you know that you can recover some of the HST charged on newly constructed homes?

Moving ExpensesDid you move closer to your work?

Income Tax InstalmentsPersonal and Corporate

Why Incorporate?
  • Common reasons why businesses incorporate
  • Choosing the correct time to incorporate
  • Difference between incorporated and non-incorporated entities

Dividends vs. SalariesAdvantages of both

Employee vs. Self-Employed
  • Facts used to determine if a person is an employee or self-employed
  • Advantages of both

Old Age Security (OAS) Information and Application FormsIf you require assistance, please contact us

Canada Pension Plan (CPP) Information and Application FormsIf you require assistance, please contact us

Business Name RegistrationTo search for and register a business name, apply for an Employer Health Tax (EHT) account and a Workplace Safety and Insurance Board (WSIB) account with Service Ontario

Business Number RegistrationBusiness Registration Online is a one stop, online, self-serve application that allows you to register for a Business Number, as well as for four program accounts: Corporation income tax, GST/HST, Payroll and Import/Export