Tax

If the parking lot is a commercial parking space then parking is subject to GST/HST. In the case of a public service body (PSB) parking lot, it may be exempt from GST/HST, which means it may not be included. To determine whether GST/HST is included in the

As a business owner, you may need to borrow funds for different purposes such as injecting capital, buying capital assets, or refinancing debt. The aim of this article is to address frequently asked questions about the deductibility of interest for incorporated business owners. It's important to understand that purchasing securities

Traditional test used by the courts to distinguish between securities transactions on income account and those on capital account: The elements of the traditional test include: (a) frequency of transactions; (b) period of ownership; (c) knowledge of securities markets; (d) security transactions forming part of the taxpayer’s ordinary business;

The Act does not provide a general definition of a “business” but does include specific activities in the extended non-exhaustive definition of “business” in subsection 248(1). In particular, subsection 248(1) extends the meaning of “business” to include: a profession, calling, trade, manufacture or undertaking of any kind whatever

What defines a small seller? You are a small seller if you meet all of the following criteria: ■ you are located in BC but do not maintain established business premises and do not regularly make retail sales from established commercial premises (see Established Commercial Premises or Established Business Premises below)

In case you are shutting down an unincorporated business, certain actions must be taken. However, the details provided below do not cover all aspects of business closure, therefore seeking expert assistance is recommended. Payroll In case you had hired employees, it is mandatory to submit all payroll withholding taxes, including