How to File Corporate Taxes in Alberta: T2 Filing Guide
How to File Corporate Taxes in Alberta: T2 Filing Guide Every Alberta corporation must submit both a federal T2 Corporate Income Tax Return to the Canada Revenue Agency and a separate AT1 Alberta Corporate Income Tax Return to Tax and Revenue Administration. Alberta is one of only two provinces in Canada, along with Quebec, that […]
How to Incorporate a Business in Alberta?
How to Incorporate a Business in Alberta? You can incorporate a business in Alberta either provincially through Alberta Corporate Registry or federally through Corporations Canada, and the process can be completed online in a matter of days when your documentation is in order. Incorporation gives your business a separate legal identity, limits your personal liability, […]
Alberta Sales Tax: GST Only Guide for Calgary Businesses
Alberta Sales Tax: GST Only Guide for Calgary Businesses Alberta Sales Tax consists exclusively of the federal Goods and Services Tax at 5%, making Alberta the only province in Canada without a provincial sales tax. Calgary businesses collect and remit GST on taxable supplies while claiming input tax credits on business purchases to recover GST […]
Step by Step Guide for Business Owners to Prepare the T5 Slip
Step by Step Guide for Business Owners to Prepare the T5 Slip The T5 slip, formally known as the Statement of Investment Income, is a CRA prescribed tax document that Canadian corporations must issue to shareholders when dividends are paid out of the corporation. If you are an incorporated business owner in Canada who paid […]
Top 10 Tax Deductions for Small Businesses in Canada
Top 10 Tax Deductions for Small Businesses in Canada Tax deductions for small businesses in Canada directly reduce your taxable income, which means every eligible expense you claim lowers the amount of corporate or personal tax you owe to the CRA at year end. Canadian tax law allows small business owners to deduct a wide […]
Best Accounting Software for Small Businesses in Canada
Best Accounting Software for Small Business in Canada The best accounting software for small business in Canada is QuickBooks Online for most businesses, FreshBooks for service based freelancers, and Wave for startups and sole proprietors who need free basic accounting. Every Canadian small business owner needs a reliable way to track income, record expenses, reconcile […]
How Much Is Employment Insurance in Canada?
How Much Is Employment Insurance in Canada? Employment insurance in Canada costs employees 1.63% of their insurable earnings up to the maximum yearly insurable earnings of $63,300, resulting in maximum annual premiums of $1,032. Employers pay 1.4 times the employee rate, contributing 2.28% of employee earnings for regular EI premiums. Quebec has separate rates due to […]
Capital Gains Tax on Real Estate in Alberta: Complete Guide
Capital Gains Tax on Real Estate in Alberta: Complete Guide Capital Gains Tax on Real Estate in Alberta applies when you sell property for more than you paid, with 50% of the gain added to your taxable income. However, your principal residence is completely exempt from capital gains tax, while investment properties and rental real estate […]
Calgary Parking Fines: How to Appeal Your Ticket
Calgary Parking Fines: How to Appeal Your Ticket Calgary Parking Fines can be successfully appealed through the City of Calgary’s formal review process when you have valid grounds and proper documentation. The appeal system allows drivers to challenge parking tickets they believe were issued incorrectly, during emergencies, or due to unclear signage. Most successful appeals involve […]
Calgary Parking Permit Guide: Everything You Need to Know
Calgary Parking Permit Guide: Everything You Need to Know A Calgary parking permit gives residents, businesses, and visitors the legal right to park in designated areas across the city without the risk of fines or towing. Whether you need a residential parking permit for your neighbourhood, a temporary permit for a construction project, or a […]