Tax Tips - Cloutier Matthews CPA | Courtenay, Comox, BC

Wages Subsidies available for Business (COVID-19)

April 5, 2020
Donna Cloutier

The government has announced two different wage subsidies for businesses, The Canada Emergency Wage Subsidy (“CEWS”) and the Temporary Wage Subsidy. The subsidies have different eligibility criteria, calculations and timelines. For more information, please read the following report. WagesSubsidiesAvailableForBusiness-COVID-19

The New “Employer Health Tax”: What You Need to Know

December 20, 2018
Michael Williams

The year 2018 saw a number of policy changes impacting Canadian businesses and individuals, but one new tax imposed on British Columbian businesses deserves closer scrutiny: the new “employer health tax” (or “EHT”).

2018: A Year in Review

December 20, 2018
Michael Williams

2018 was a particularly active year for headline-grabbing news items impacting our economy. As the end of the year draws near, let’s take a look back at a few that will continue to have an impact into 2019:

Now Offering Bookkeeping Services!

December 12, 2018
Michael Williams

We are very excited to be offering our clients professional bookkeeping services! Our dedicated team of professional bookkeepers will complement the accounting services already offered by our CPAs and staff accountants. We know how important the bookkeeping function is to any organization, and we are very pleased that we are now able to offer our clients a full suite of professional accounting and bookkeeping services.

Tax Season Is Coming

February 16, 2018
Michael Williams

With February upon us we are rapidly approaching our busy tax season. Although the personal tax filing deadline falls on April 30, 2018, procrastination can be your enemy at this time of year, particularly for those of you with more…

Proposed Tax Law Changes Announced by the Minister of Finance

September 26, 2017
Donna Cloutier

Dear Clients, The proposed tax law changes announced by the Minister of Finance on July 18, 2017 came as a shock to our industry. It will be, if fully enacted, the biggest tax change since the Income Tax Act was…

Personal Liability for Corporate Directors – A Warning

July 6, 2017
Kati Stroh

If you or someone you know is the director of a corporation, be warned: you may be on the hook personally for amounts owing by the company to the Canada Revenue Agency (CRA).

Are You Eligible To Claim Employment Expenses?

March 6, 2017
Michael Williams

Good News - Tax Deductions are Available! If your employer allows you to work from home, or if you are an employee that earns commission income, the Canada Revenue Agency (CRA) allows you to deduct certain expenses on your personal tax return. These…

Tax Credits for Medical Expenses

March 6, 2017
Michael Williams

At tax time every bit of relief helps, which is why it is important to fully understand all of the potential tax savings available to you. Every tax situation is unique and people often miss out on tax credits or…

Reporting Income on Rental Property or Suites

March 6, 2017
Michael Williams

If you own rental property or have a rental suite in your home, the Canada Revenue Agency (CRA) requires you to report any income on your tax return. How do you satisfy this reporting requirement without triggering undue CRA scrutiny of your…