Author Archives: hectorrombola
Ontario Ministry of Labour: Tips and Gratuities New Rules
Starting June 10, 2016, it will be illegal for employers to keep a portion of employees’ tips and other gratuities, except as permitted by the Employment Standards Act, 2000 (ESA). These rules affect employers and employees covered by the ESA … Continue reading
The CRA’s annual Office Audit Letter Campaign
The CRA’s annual Office Audit Letter Campaign The Canada Revenue Agency (CRA) will soon be conducting its seventh annual Office Audit Letter Campaign. The letter writing campaign is designed to facilitate behavioural changes among a selected taxpayer population by providing … Continue reading
Ontario Has Changed Its Minimum Wage Rates
Minimum Wage Rates Minimum Wage Rates Minimum Wage Rate Wage Rates Prior to June 1, 2014 Wage rates from June 1, 2014 – September 30, 2015 Current Rates: Rates as of October 1, 2015 General Minimum Wage $10.25 per … Continue reading
Do I have to charge HST on tips on services? What about CPP, EI and Income Tax?
Canada Revenue Agency informs that: “Tips or service charges are not usually added to a bill. In general, consumers tip a percentage of the amount of a bill to service providers such as to waiters, waitresses, barbers, hairdressers, and taxi … Continue reading
Canada Revenue Agency: Manage Online Mail – New Service
Commencing February 9, 2015, a new service called Manage Online Mail is being offered by the Canada Revenue Agency (CRA) to electronically deliver mail to Canadians. Online mail is the best way to manage your correspondence from the CRA. This … Continue reading
New to bookkeeping and accounting? A look at what the profession should do for you
Bookkeeping is the recording of financial transactions. Transactions include sales, purchases, income, receipts and payments by an individual or organization. Bookkeeping is usually performed by a bookkeeper. Bookkeeping should not be confused with accounting. The accounting process is usually performed … Continue reading
Ontario Provincial Stat Holidays
General holidays, also referred to as statutory or “stat” holidays, are federally or provincially legislated holidays where employees in Ontario receive a day off, a day off with pay or compensation in lieu of time off. However, Civic Holiday* in … Continue reading
How long do I keep my business and personal records?
The purpose of today’s note is to provide information to persons who are required by law to keep books and records in Canada. A person in the context of this note includes, in addition to individuals, a corporation, a trust, … Continue reading
Personal Income Tax: First-time home buyers’ tax credit
If in 2013 you were a first time home buyer, read on. If you already file your taxes and missed this credit up, it is not too late, you can still claim it. What is it, then? If you are … Continue reading
More advise from Business Owners from PROFIT Magazine (Part 2)
As promised, here is more food for thought. These experiences and others are good advise that I use in discussions with new clients, so think about what they mean to you and your prospective small business. “Be willing to commit … Continue reading
Bright New World Corp 