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Import duties are only part of what you pay at the border. GST is charged on the value of the goods plus any customs duty, so a $4,000…

To handle petty cash in a small Canadian business, keep a fixed float, pay out only against a receipt or a signed voucher, and top the float…

Accounting supports strategic decisions by telling you what a choice costs, when the cash leaves and what tax takes out of the result. Without…

Commission pay in Canada is taxed one of two ways, and the one you get depends on your work status: employee or self-employed. An employee has…

Scaling a business in Canada changes your accounting at a few fixed lines, not gradually. Once taxable sales pass $30,000 you have to register…

A small business budget starts with one number: what you expect to sell in a normal month, minus what has to leave your account even in a…

To set up payroll for a Canadian business, you register for a CRA payroll deductions account, which is your nine-digit business number plus…

The CRA’s electronic filing requirements hit corporations hardest. For tax years starting after 2023, every corporation has to file its…

A Canadian company that paid VAT in a European country can ask that country for a VAT refund, and it files the claim directly with that…

A financial forecast for a small business is three lines you fill in month by month for the next 12 months: what you’ll sell, what…