Time is Money Have you been operating your business for a short period of time (less than three years)? If yes, then you are likely focusing your energy on how to increase the size of your business and how to make it more efficient and profitable. If your company is… Read More
We all know that managing cash flow is very important for any business. One cash flow area requiring special consideration is the money that you collect on behalf of the government – employee payroll deductions and HST collections. Payroll Taxes Your business incurs a liability every time a deduction or… Read More
Newsletter Content • Latest News • Bill 198 and IFRS • IFRS – IAS 37 – Provisions, Contingent Liabilities and Contingent Assets • Ontario HST Read More
Effective July 1, 2010, Ontario’s Retail Sales Tax (RST) be replaced with the Ontario Harmonized Sales Tax (HST). The HST will have a combined tax rate of 13 per cent — combining the existing five per cent federal Goods and Services Tax (GST) and an eight per cent Ontario component. The HST will be administered by the Canada Revenue Agency. Read More
Newsletter Content • IFRS – Latest News • Top IFRS Issues in Canada • IFRS – IAS 36 – Impairment of Assets • Ontario HST Read More
Sales tax harmonization in Ontario next July 1, 2010 appears closer to reality with Ontario’s Bill 218 receiving third reading on December 9, 2009 and the federal government’s Bill C-62 receiving second reading in the Senate on December 11, 2009. Read More