Blog & Articles

Uber Drivers: Tax & a Looming HST Issue

By Daniel Toma | Jan 27, 2016

Uber has come to Canada in a big way and many drivers are now earning substantial income. While the tax situation for drivers is quite similar to other small businesses, the matter of HST is a looming issue which needs to be brought to the attention of Canadian participants.

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Important Changes to Trust Taxation Effect Jan 1, 2016

By Daniel Toma | Nov 24, 2015

There are some key changes being implemented by CRA which may affect how you plan to use a trust in your will and which will affect many current beneficiaries. Effective January 1, 2016 testamentary trusts will be subject to the highest marginal personal tax rate. 

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Election Choices: How Each Party Will Affect Your Taxes

By Daniel Toma | Sep 25, 2015

Among the most important issue influencing voters for the 2015 federal election is how each party will affect the tax situation of Canadians. both individuals and businesses. Here is a primer on each party's proposed plans based on Liberal, NDP and Conservative platforms.

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Do I Need To Pay Tax on Airbnb Income?

By Daniel Toma | Aug 9, 2015

The answer is- yes. If the Canada Revenue Agency discovers unreported income, you will likely face interest and penalties in addition to a tax assessment. For our neighbours in the U.S., rental income is tax free up to a maximum of 14 days per year however there is no such threshold in Canada.

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What Raising Venture Capital Means For Your Business

From Financial Post | Aug 7, 2015

If you can show you can provide aggressive growth, you can probably obtain venture capital. However the majority of business owners have only the vaguest notion of what it means to raise venture capital, yet it is one of the frequently heard goals by those who advise businesses.

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Saving For Retirement- Aim To Start Early!

By Daniel Toma | Jul 17, 2015

It is never too early to start putting aside money for retirement. Many younger individuals are simply not saving- bypassing the process in order to plow as much money as possible into a mortgage down payment or discretionary spending. An early retirement saving strategy is key.

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