Pre-Incorporation Expenses: What You Can Claim in Canada
Pre-incorporation expenses are costs you pay before your company legally exists, and for GST/HST the key fact is that a corporation’s…
What Audit Committees Do in Canadian Organizations
An audit committee in Canada is a group of directors that reviews a corporation’s financial statements before the board approves them.…
Startup Tax Incentives in Canada: What You Can Claim
Startup tax incentives in Canada come down to two big federal ones: the SR&ED credit for research and development work, and the lower…
How to Appeal a CRA Audit Decision in Canada
You can appeal a CRA audit decision by filing a notice of objection. If you’re an individual, the deadline is the later of one year…
Setting Up Accounting for a New Canadian Business
The short version of accounting for a new business in Canada: open a separate bank account, keep every record for six years, and watch one…
How to Choose Bookkeeping for a Canadian Startup
The best bookkeeping systems for startups aren’t the fanciest ones. You need one that keeps every invoice and receipt for six years,…
Sales tax compliance audit in Canada, step by step
A sales tax compliance audit is a check of your own GST/HST records before the CRA asks for them: is every invoice taxed at the right rate, is…
What are the audit requirements for public companies?
What are the audit requirements for public companies in Canada? Start with the clock. A reporting issuer with a December 31 year end must file…
What Documents Does a GST/HST Audit Require?
For a GST/HST audit, the CRA wants the records behind every figure on your returns: sales and purchase invoices, plus everything else that…
Preparing for a Review Engagement in Canada
A review engagement in Canada gives limited assurance on your financial statements, which is less than an audit and more than none. The…