Cryptocurrency Accounting: How the CRA is Tracking Crypto Transactions in 2025
As cryptocurrency continues to grow in popularity, the Canada Revenue Agency (CRA) has ramped up its efforts to track and regulate crypto transactions. Many Canadian investors and businesses dealing in digital assets must now navigate stricter reporting requirements and increased scrutiny from tax authorities. In this guide, we’ll cover how CRA cryptocurrency transactions are being […]
Cross-Border Tax Planning: How to Reduce Taxes as a Dual Resident
For Canadians with financial ties to the U.S. or other countries, cross-border tax planning is essential to avoid double taxation and optimize tax savings. Whether you are a dual resident, snowbird, or business owner with cross-border income, proper tax planning can help you legally reduce taxes while staying compliant with the Canada Revenue Agency (CRA) […]
Capital Gains Tax Changes in Canada: What You Need to Know
Understanding the Latest CRA Update on Capital Gains Taxation The Canada Revenue Agency (CRA) has announced an update on the proposed changes to capital gains tax changes in Canada. Initially, the government planned to increase the capital gains inclusion rate from one-half to two-thirds for certain taxpayers starting June 25, 2024. However, this implementation has […]
Crypto and Tax: What Every Canadian Business Needs to Know
Why Crypto Taxation Matters for Canadian Businesses As cryptocurrencies gain traction in the business world, understanding how they are taxed is becoming increasingly important for Canadian businesses. The Canada Revenue Agency (CRA) treats crypto as a commodity, meaning its use—whether for transactions, investments, or payments—can have significant tax implications. Businesses must account for and report […]
Missed Business Deductions You Should Be Claiming This Tax Year
The Importance of Identifying Missed Deductions As a business owner, understanding and identifying missed business deductions is essential for managing your finances effectively. Every deduction you claim reduces your taxable income, freeing up resources that can be reinvested in your business. Missing out on these deductions can mean paying more taxes than necessary, which could […]
A Guide to Cross-border Tax Planning for Expats
Why Cross-border Tax Planning is Essential For expats, navigating cross-border taxation is a critical aspect of managing personal and financial obligations. With income and assets potentially subject to tax in multiple jurisdictions, proper planning ensures compliance with Canadian tax laws while addressing international obligations. Whether you’re working abroad or maintaining ties to Canada, understanding cross-border […]
A Step-by-Step Guide to Corporate Tax Filing in Canada
Why Corporate Tax Filing Matters Corporate tax filing is a fundamental obligation for businesses operating in Canada. Meeting this requirement ensures compliance with the Canada Revenue Agency (CRA) and avoids penalties, interest charges, or reputational risks. Beyond compliance, proper tax filing provides an opportunity to manage cash flow, take advantage of deductions, and strengthen your […]
Accounting for Crypto: How to Track and Report Your Digital Assets
Why Accounting for Cryptocurrency Matters As cryptocurrency continues to grow in popularity, understanding how to account for and report your digital assets has become a critical task for businesses and individuals in Canada. The Canada Revenue Agency (CRA) treats cryptocurrency as a commodity, meaning transactions involving digital assets must be tracked and reported for tax […]
2024 CPP Changes: What Employers and Employees Need to Know
Preparing for 2024 CPP Changes On January 1, 2024, significant changes to the Canada Pension Plan (CPP) will take effect, impacting both Canadian workers and employers. These changes aim to provide greater retirement benefits, but they also bring higher contribution requirements, particularly for high-income earners. It’s crucial for businesses and individuals to understand these updates […]
How a Virtual CFO Can Benefit Your Business
Why Your Business Needs Virtual CFO Services Running a small business requires juggling multiple responsibilities, from managing cash flow to creating strategic growth plans. Yet, many small business owners lack the financial expertise needed to scale successfully. This is where Virtual CFO services can make a difference. In this blog, we’ll explore the benefits of […]
