Corporate Advertising and Promotion Expenses: CRA Increasing Reviews
Corporate Advertising and Promotion Expenses: CRA Increasing Reviews Over the past few years, CRA has taken a targeted approach in reviewing amounts claimed under specific lines (based on the type of claim) of a corporate tax return. Various projects conducted included reviews of professional fees, travel expenses and the purchase of certain vehicles. CRA has…
ANDY
Falsified Employment Records: The Penalties Can be Large
Falsified Employment Records: The Penalties Can be Large With numerous COVID-19 benefits being based on employment and remuneration levels, the federal government has likely become increasingly concerned with falsified employment records. However, this is not a new issue. In particular, the government already has experience dealing with false records used to increase access to employment…
Small Business Air Quality Improvement Tax Credit
Small Business Air Quality Improvement Tax Credit : Could Your Business Benefit? The December 14, 2021 Economic and Fiscal Update proposed a temporary refundable small businesses air quality improvement tax credit of 25% on eligible air quality improvement expenses incurred by small businesses to make ventilation and air filtration systems safer and healthier. The credit…
TFSA Annual Limit, Climate Action Incentive
TFSA Limit, Work from Home, First time home buyers, Climate Action Incentive Some quick points to consider… The annual TFSA limit for 2022 remains at $6,000. As such, if an individual has never contributed and has built room since the program’s inception in 2009, up to $81,500 can be contributed. Employees working from home in…