What is the GST/HST Credit? Guide for Canadians
The Goods and Services Tax (GST) and Harmonized Sales Tax (HST) Credit is a tax-free quarterly payment provided by the Canadian government to individuals and families with low or modest incomes. Its primary purpose is to offset the impact of GST or HST on the purchase of goods and services. The GST is a federal…
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How to Get Certification from the Payroll Association of Canada
Certifications from the National Payroll Institute (formerly the Canadian Payroll Association) are highly regarded in Canada’s payroll industry. These certifications validate your expertise and open doors to rewarding career opportunities. The two main certifications are the Payroll Compliance Professional (PCP) and the Payroll Leadership Professional (PLP). This article will guide you step-by-step on how to…
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What is an ROE (Record of Employment)? A Guide for Employees and Employers
In Canada, a Record of Employment (ROE) is one of the most important documents an employer must issue to their employee. It’s a form used to document an employee’s employment history, and it plays a critical role in determining eligibility for Employment Insurance (EI) benefits. If you’ve recently experienced a gap in work or earnings,…
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Does CRA Audit Your Bank Account?
One of the most pressing questions among Canadian taxpayers is whether the Canada Revenue Agency (CRA) audits bank accounts. The short answer is yes, but it’s important to understand the circumstances, methods, and implications of such audits. This article will provide a comprehensive guide to what you need to know about CRA audits and your…
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What is the Dividend Tax Credit in Canada?
The Dividend Tax Credit (DTC) is a non-refundable tax credit in Canada designed to alleviate the double taxation of dividend income received by individuals from taxable Canadian corporations. When corporations pay taxes on their profits and distribute dividends to shareholders, those dividends have already been taxed at the corporate level. The DTC ensures that individual…
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Why You Need to Prepare a Cost Sheet
Cost sheets are an essential tool for businesses of all sizes. Whether you’re running a small startup or managing a large enterprise, a cost sheet provides detailed insights into the costs associated with producing goods or delivering services. In this article, we’ll explore the importance of cost sheets, their components, and how they can benefit…
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