Accounting Archives - Page 2 of 3 - CPA Accountant and Tax Advisor- Coquitlam, Burnaby, Maple Ridge

tax planning

Eligible and Non-eligible Dividends

Eligible dividends

An eligible dividend is any taxable dividend paid to a resident of Canada by a Canadian corporation that is designated by that corporation to be an eligible dividend. A corporation’s capacity to pay eligible dividends depends mostly on its status. In simple terms […]

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taxable benfit

Taxable Benefits – Work Clothing

September 11, 2015
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Uniforms are not a taxable benefit if the purpose is to protect the employee from the job hazards or are distinctive uniform such as identifying the employer.

If it does not fulfill the above criteria it would be considered a taxable benefit and would be reported on employee […]

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Universal child care benefit (UCCB)

Under proposed legislation, the Government is increasing and expanding the UCCB starting in 2015. The UCCB is being enhanced by providing up to $1,920 per year for each child under the age of 6, and introducing a new benefit of up to $720 per year for children […]

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tax planning

Automobile Taxable Benefits

Employee’s benefit

Report the value of the benefit including the GST/HST that applies in box 14, “Employment income,” and in the “Other information” area enter code 34 at the bottom of the employee’s T4 slip.

Also, report the benefit […]

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