Bookkeeping requirements for Ontario businesses
What are the bookkeeping requirements in Ontario? Keep your books and supporting records for six years from the end of the last tax year they…
Business accounting in Atlantic Canada
If you run a business in Atlantic Canada, the big accounting fact is HST: 15% in New Brunswick, Newfoundland and Labrador and Prince Edward…
How Resource Royalties Work Across Canadian Provinces
Resource royalties are what a company pays the owner of the oil, gas or minerals it takes out of the ground, and in Canada that owner is…
How Provincial Pension Plans Affect Canadian Payroll
Provincial pension plans barely touch payroll in Canada, because only one province has its own: Quebec. If an employee’s province of…
Bootstrapping in Canada: Tax Rules for Self-Funded Firms
Bootstrapping in Canada means you pay for the business yourself, and the tax system doesn’t care where the money came from. What matters…
Digital transformation in Canadian accounting
Digital transformation in accounting is no longer optional for Canadian businesses, and the reason is the CRA, not a software salesperson. For…
Bookkeeping for Accelerator Programs in Canada
Accelerator programs don’t come with a bookkeeping rulebook of their own. Your company follows the same CRA record rules as any other…
Founder Equity Accounting for Canadian Startups
Founder equity, in Canadian terms, is the shares each founder holds in the corporation. Accounting for it means recording who put in what,…
Tax and Accounting for MVP Development Costs
MVP development costs in Canada aren’t treated as one lump. The work that tests a real technical unknown may qualify for SR&ED tax…
Tax on Convertible Notes in Canada, Explained
The tax on convertible notes in Canada starts with its interest, not its conversion. If you lend through a note, the CRA’s guidance on…