NEWS

TOSI Explained for Vancouver Owner Managers: Paying Family From Your Corporation Tax on Split Income (TOSI) rules significantly impact how Canadian business owners can pay family members from their corporations. Since 2018, these rules have restricted income splitting strategies that were once common. This guide explains TOSI in plain English, shows you how to qualify…

GST/HST Quick Method in BC: Eligibility, Rates, and When It Saves Money The GST/HST Quick Method is a simplified accounting option for small businesses in British Columbia that can reduce your GST remittances and simplify bookkeeping. Instead of tracking every Input Tax Credit (ITC), you remit a percentage of your sales. This guide explains who…

BC PST for Contractors and Trades in Vancouver: When to Charge vs Pay Understanding when to charge or pay Provincial Sales Tax (PST) is crucial for contractors and tradespeople in British Columbia. Misapplying PST rules can lead to costly audits, penalties, and client disputes. This guide clarifies the key distinctions between contractors and vendors, when…

Bookkeeping Requirements for Small Businesses in BC Proper bookkeeping is essential for small businesses in British Columbia. Not only does it help you understand your financial position, but it’s also a legal requirement. The Canada Revenue Agency (CRA) requires all businesses to maintain accurate records, and failure to do so can result in penalties, audits,…

Small Business Accounting in Vancouver: What Owners Need to Know Running a small business in Vancouver comes with unique accounting challenges and opportunities. From bookkeeping and payroll to GST/PST compliance and year-end planning, proper accounting is essential for success. This comprehensive guide covers everything Vancouver small business owners need to know about managing their finances…

Why You Should Work with a CPA for Your Taxes in Vancouver When it comes to managing your taxes in Vancouver, working with a Chartered Professional Accountant (CPA) offers significant advantages over DIY tax preparation or using unlicensed preparers. CPAs bring expertise, experience, and professional standards that can save you money, ensure compliance, and provide…

How to Choose the Right Accountant in Vancouver Finding the right accountant in Vancouver can make a significant difference in your financial success. Whether you’re an individual taxpayer or a business owner, the right CPA can help you save money, stay compliant, and achieve your financial goals. This comprehensive guide will walk you through everything…

Essential Tax Planning Strategies for Canadian Businesses and Individuals Strategic tax planning can result in significant savings for businesses and individuals. Understanding and implementing the right strategies helps you minimize tax liability legally while avoiding costly mistakes. Tax Planning vs. Tax Preparation Tax Preparation: Reactive filing of last year’s return Tax Planning: Proactive year-round strategies…

SR&ED Tax Credits Explained: How Vancouver Tech and Manufacturing Companies Can Claim R&D Incentives The SR&ED program is Canada’s most generous tax incentive for R&D, yet many Vancouver businesses never claim it. If you’re developing products, improving processes, or solving technical challenges, you could receive significant tax refunds—up to 35% of R&D costs. What is…

Employee Benefits and Perks: Tax Implications for Vancouver Business Owners in 2025 Attracting top talent in Vancouver requires more than salary. Strategic employee benefits can differentiate your business—but tax treatment varies dramatically. Understanding which benefits are tax-free vs taxable can save thousands for both employer and employee. Strategic Benefits = Better Talent Retention Vancouver businesses…