Blog

I will include in the blog selected items I think may be of interest to my clients with references to more detail if you need to dig deeper. Let me acknowledge the main source of these blurbs TAX TIPS dot CA which I recommend as a great resource of up-to-date tax information.

Flipping properties:

Yes, if you sell a principal residence your gain is exempt and otherwise the profit will be 50% taxable as a capital gain. But beware, if you are a serial property “flipper”, you could be 100% taxed on your capital gains if you live off the gains as a major source of income.

Real Estate Sales – Are They Taxable? What about my Principal Residence?

Employee Parking:

As a general proposition, if an employer pays for his employee’s parking at his place of work, this becomes an employment benefit and is included on the employee’s T4. However, there are some interesting exceptions that you should bear in mind.

Employee Parking Provided by Employer

Shareholder Loans:

As a general rule, better to pay yourself a salary or dividend than to remove money from your corporation without paying tax. If you don’t repay the borrowing within 12 months of the fiscal year you borrowed it, you are required to declare the amount on your personal tax return as income. And if you don’t so declare, you could be subject to 50% penalties for gross negligence.

Shareholder Loans and their Tax Implications

Latest Posts

TAX NEWS

TAX NEWS

I will include in the blog selected items I think may be of interest to my clients with references to more detail if you need to dig deeper. Let me acknowledge the main source of these blurbs taxtips.ca which I recommend as a great resource of up-to-date tax...

Business Advice & Accounting Software

World & National Events

What Our Clients Say About Us

For any growing company it is imperative to align yourself with business partners that have credibility, integrity and most importantly that you can count on. Paul and the JPDO team have been a solid partner with us for over 5 years. It makes our life so much easier to be able to delegate some of the more complex accounting issues , and also have outstanding QuickBooks technical support under one roof.

I highly recommend Paul and his team for any company that wants to spend their time on what grows the business, not what bogs you down. Bob Moreau

President, Clockaudio North America Inc.

Excellent service, JPDO has proven to be diligent, knowledgeable, and pro-active.The JPDO Team has been an integral part of our bookkeeping and accounting operations for years and has allowed our Company to; confidently outsource this area of our operations to them. In addition to day-to-day bookkeeping, tax, and year-end Tax filings, Paul is always available for higher-level advice and consultation. Garvin Ferdinand

Vice-President, Ruveneco Inc

JPDO helped Academics Without Borders, a Canadian charity, set up QuickBooks in the cloud and donated his time and the software to AWB. We at AWB cannot thank Paul enough for his generosity. Steven Davis

Director, Academics Without Borders

Paul and his team have done a great job organizing the accounting process of my client to ensure that they have reliable monthly financial reports. Jacob Altman

CPA, CA Associé Partner , Bessner Gallay Kreisman S.E.N.C.R.L. | LLP

JPDO has been our accountant for over a decade now and they have always lived up to their promise of excellence. Jeff Arnold

Partner , Harris Arnold Consulting Ltd.

Ready to get started?

Book a consultation or get in touch!