Interesting Articles You Might Like To Read….
“That's a relief! CRA extends payment due dates again during COVID-19”
OTTAWA – The Canada Revenue Agency has announced that it is extending the payment deadline and applying relief to interest on existing debt. The announcement is a further extension to the payment due date for current year individual, corporate, and trust income tax returns, including instalment payments, from September 1, 2020, to September 30, 2020. The CRA has also announced relief on existing tax debt:
— Canadian Accountant
“Your tax bill could change in 2019. Here's what to expect.”
A whole host of federal tax changes come into effect in the new year. Some will hit your paycheque, others your bills — and if you're a small business owner, there are a couple of changes coming for which you've likely been preparing for months.
— Karina Roman · CBC News
“ Warren Buffett Invests in Canada, but Should You?”
When Warren Buffett acts, investors notice. And after he took a roughly $300 million position last month in Home Capital Group, a troubled Canadian mortgage underwriter, some investors saw it as a vote of confidence not only in that company, but also in Canadian stocks over all.
— Gretchen Morgenson, New York Times
“ Canada’s 2019 tax season: 4 things you need to know.”
The time when Canadians will be able to shed their toques and snow boots is still months away, but tax season is right around the corner.
Get ready to tell the government how much money you made last year, how much you already paid in tax and hope that the difference will put a few dollars back into your pocket.
— Erica Alini, National Online Journalist, Money/Consumer Global News
“ 3 Major Benefits of Updated Bookkeeping
and Accounting Records.”
Every business big and small should have regularly updated bookkeeping and accounting records so business leaders can make the right decision with a foundation in the data.
— The Entrepreneur.
“ What Biggie Smalls's Accountant Taught Me About Life.”
Remember this song by 112 feat. B.I.G. and Mase, "Only You?" In Biggie's first verse he says, "Room 112 where the players dwell. And, stash more cash than Bert Padell, inhale." Padell was his accountant….
— Andrew Medal, Contributor, Serial Entrepreneur, Author, Volunteer.
Ultimately the key to tax season is setting yourself up for success.