Tag Archives: Tips
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
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
Starting up a company is, simply put, hard work
The advise contained on the title is well known to all entrepreneurs. The Canadian magazine PROFIT asked its PROFIT 500 list of business leaders to share some of their often hard learnt lessons. The following are some quotes from them … Continue reading
Reminder: Report your tips – They are taxable income
The Canada Revenue Agency (CRA) is reminding Canadians who earn tips and gratuities that they represent taxable income and must be reported on annual income tax and benefit returns. Restaurant servers, hairdressers, valets, taxi drivers, and others who earn tips … Continue reading
Bright New World Corp 