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Short-Term Rental Taxes in Vancouver: GST, PST, and Income Reporting for Airbnb Hosts
If you list on Airbnb or similar platforms in Vancouver (entire homes, suites, or rooms), taxes can be complex. This guide clarifies when GST, PST, and income reporting apply—plus how to stay compliant and optimize deductions. Focus: Airbnb tax Vancouver (GST/PST & T776) On this page: Overview: Taxes affecting Airbnb hosts GST: When it applies…
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GST/HST Quick Method in BC: Who Qualifies and How to Calculate
Short on time but still want to stay compliant? The GST/HST Quick Method lets eligible small businesses in British Columbia simplify filings by remitting a CRA-set percentage of taxable sales instead of tracking input tax credits (ITCs) on most expenses. This article explains who qualifies, how it works, the calculation steps, and when to stick…
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Salary vs Dividends in 2025: Owner-Manager Guide for Vancouver Corporations
Choosing how to pay yourself—salary, dividends, or a deliberate mix—affects your tax bill, CPP eligibility, RRSP room, mortgage approvals, cash flow, and even succession plans. This Vancouver-focused guide helps owner-managers evaluate options and build a repeatable pay policy for 2025. Book a tax planning session See Tax Planning Services Related reading: Vancouver’s Business Tax Landscape…
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BC PST for Contractors and Trades: When You Must Charge and When You Pay
BC PST for Contractors and Trades: When You Must Charge and When You Pay Provincial Sales Tax (PST) in British Columbia often creates confusion for contractors and trades professionals. Unlike GST, which applies broadly across Canada, PST has its own unique rules. Knowing when to charge PST to clients and when you are required to…
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BC PST for Small Businesses: Registration, Filing & Exemptions
For Vancouver small businesses, understanding British Columbia’s Provincial Sales Tax (PST) is critical to staying compliant and avoiding costly penalties. Whether you are registering for PST, filing returns, or claiming exemptions, knowing the rules ensures smooth business operations. In this guide, we’ll cover what you need to know about PST registration in BC, how filing…
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When to Outsource Bookkeeping vs Hiring In-House
When to Outsource Bookkeeping vs Hiring In-House Managing accurate and timely financial records is a cornerstone of business success. As your small business in Vancouver grows, you may wonder whether to outsource bookkeeping or hire an in-house accountant. Both approaches offer unique advantages, and the right choice depends on your business goals, budget, and compliance…
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Why Quarterly Financial Reviews Matter for SMBs
Running a small or medium-sized business in Vancouver? Then quarterly financial reviews should be on your radar. These reviews not only provide a snapshot of your financial health but help keep your strategy aligned with business goals throughout the year. What Is a Quarterly Financial Review? A quarterly financial review is a scheduled analysis of…
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Understanding Retained Earnings: A Small Business Guide
Retained earnings are one of the most essential components of small business accounting. As a business owner in Vancouver, understanding how retained earnings work—and how to manage them—can make a major difference in your company’s long-term financial health. In this article, we’ll break down the basics and help you integrate smart practices into your operations.…
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How to Set Financial Goals for Your Business and Stick to Them
Setting clear financial goals is an essential part of business success. Whether you’re launching a startup or looking to scale your operations in Vancouver, financial planning provides the framework for sustainable growth. As a business owner, knowing how to set realistic financial goals and stay accountable is key to achieving long-term success. Why Financial Goals…
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How to Read a Balance Sheet: Tips for Business Owners
A balance sheet is one of the most important financial statements for any business. Whether you’re a startup founder or an established entrepreneur in Vancouver, understanding how to interpret a balance sheet is critical for making informed financial decisions. This guide will walk you through the basics of reading a balance sheet and help you…