GST/HST

Tax Implications of Employee Christmas Bonuses and Gifts

By Webmaster|2017-01-02T20:23:17-07:00December 14th, 2012|Business Management, GST/HST, Payroll and Taxable Benefits, Personal Taxation|

Now that the Christmas season has arrived, one issue that many employers have is how to give those sought after yearend bonuses to their employees. No matter what type of Christmas bonus you give to your employee, there are tax consequences to either your company or to your employee. We will discuss some of these options and their tax implications as follows. Please note that you may be required to withhold CPP and(or) EI on some of the options below [...]

GST/HST reporting and options for the small business

When it comes to registering for GST there are a couple of items that will need to be addressed. Firstly, if you are a small business you don't actually have to register for GST nor collect any GST on your invoices until you reach an average of $30,000 in sales annually. That is of course assuming you don't voluntarily register. Technically, even if your sales are below the $30,000 level as discussed above, you can voluntarily register. The advantage to [...]

GST/HST

December 14, 2012

Tax Implications of Employee Christmas Bonuses and Gifts

November 30, 2012

GST/HST reporting and options for the small business