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Managing Cash Flow: Employee Deductions and HST Collections

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

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Edelkoort Smethurst Schein CPA’s LLP – April 2010 e-Newsletter

Newsletter Content • Latest News • Bill 198 and IFRS • IFRS – IAS 37 – Provisions, Contingent Liabilities and Contingent Assets • Ontario HST Read More

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Ontario HST – How to Prepare for Implementation

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

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Edelkoort Smethurst Schein CPA’s LLP – January 2010 Newsletter

Newsletter Content • IFRS – Latest News • Top IFRS Issues in Canada • IFRS – IAS 36 – Impairment of Assets • Ontario HST Read More

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Ontario HST update December 21, 2009

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