Have you been trading cryptocurrency or other digital assets and are wondering how to apply this to your tax return? Your cryptocurrency dealings may be considered either a business income or capital gain and depending on your situation, you’ll be applying it to your tax return differently. When is this a concern for your taxes? […]
The Sharing Economy & Platform Industry Tax Compliance What is the sharing & platform economy? Well, if you work off of a system that connects buyers and consumers with sellers or service providers, then you are part of this industry. There are 4 main types of businesses that fall under this industry and they are: […]
Property Tax Assessment Factors: Have you been wondering why your property tax is so high in these years? Well, in British Columbia property tax is calculated based off some key factors and we’ve broken it down below. There are 4 key factors in assessing your property tax and they are based on services available in […]
Rental Income: Deductible Expenses Have you received government COVID-19 assistance for rental income or expenses such as the CEWS (Canada Emergency Wage Subsidy)? Make sure to include the amounts in your rental income or expenses. We’ve also broken down the list of deductible expenses that you can claim against your rental income so keep reading […]
Automobile Deductions in 2022: On December 23, 2021 – the Department of Finance Canada announced some changes to the automobile income tax deduction limits as well as expense benefit rates that apply in 2022. Here’s a breakdown of the changes to limits and rates which were effective as of January 1, 2022: The Capital Cost […]