Make sure you know your corporate income tax obligations when you decide to incorporate for work

when you decide to incorporate for work, if you meet all three following criteria, you may be operating a personal services business.

👉 you are the only shareholder and likely the only employee of your corporation;

👉 you perform services for one other business (payer);

👉 you use equipment and/or tools provided by that business to perform those services.

Make sure you know your corporate income tax obligations – they may be different than other corporations.

More Info ➡️ http://ow.ly/VOoc50N8x3g (Source from CRA)

Recent Posts

See All

Filing your returns of 2023 - what's new?

•Electronic remittances or payments above $10,000 As of January 1, 2024, remittances or payments to the Receiver General of Canada should be made as an electronic payment if the amount is more than $1

Apply for the second period of interim Canada Dental Benefit

📣 To be eligible for the second period of the interim Canada Dental Benefit, you must meet all of the following for each child you apply for: Your child was born on or after July 2, 2011 (under

Additional Payment of the interim Canada Dental Benefit

The interim Canada Dental Benefit can provide an additional payment for some children who have dental costs more than $650 in one of the benefit periods. Check if you can get an additional payment for