What are the GST/HST implications of international sales from Canada?
Registering for Goods and Services Tax (GST) and Harmonized Sales Tax (HST) is essential for Canadian businesses engaging in international…
How to account for foreign investments in Canadian bookkeeping?
Adopt specific recognition and measurement procedures outlined by Canadian accounting standards when recording foreign investments. This…
What are the reporting requirements for foreign income in Canada?
If you earn income outside Canada, reporting it accurately to the Canada Revenue Agency (CRA) is essential to stay compliant with tax…
How to account for international travel expenses in Canadian bookkeeping?
Implementing a structured tracking system for international travel expenses ensures accurate reporting and compliance with Canadian accounting…
What are the tax implications of having foreign employees working for a Canadian company?
Understanding tax obligations for foreign employees working in Canada requires clear planning. Canadian companies should prioritize proper…
What are the bookkeeping considerations for Canadian expatriates?
Maintain detailed records of all foreign income and expenses to ensure accurate tax reporting. Use dedicated accounts or spreadsheets to…
How to handle currency exchange gains and losses in Canadian accounting?
To accurately reflect the financial impact of foreign currency fluctuations, it is crucial for Canadian companies to implement a clear…
What are the bookkeeping considerations for seasonal businesses in Canada?
Prioritize regular financial record updates to prevent year-end chaos. Tracking income and expenses monthly helps identify cash flow trends,…
What are the most tax-efficient ways to pay yourself from a Canadian business?
Pay yourself through a combination of salary and dividends to maximize tax savings and cash flow. Structuring your payments this way allows…
What are the tax implications of doing business internationally from Canada?
Implementing a clear understanding of tax obligations is essential for Canadian companies operating across borders. Proper planning ensures…