Tax Facts Card – 2022
Related Resources
DIRECTOR LIABILITY: Is Asking About Source
Deductions Enough?
Directors can be personally liable for payroll source deductions (CPP, EI, and income tax withholdings) and GST/HST unless they exercise due diligence to prevent the...
Read More >
The Tax Free Savings Account
In 2009, the federal government introduced the Tax Free Savings Account (TFSA) to give Canadians another means to save for their financial goals. The TFSA...
Read More >
CROWD FUNDING: Taxable or Not?
A June 2, 2022, Technical Interpretation discussed the taxability of funds received through crowdfunding campaigns. CRA first noted that amounts received through a crowdfunding arrangement...
Read More >
2022 Ontario fall fiscal update
(authored by RSM CANADA) On Nov. 14, 2022, Ontario's Minister of Finance, Peter Bethlenfalvy, released the 2022 Ontario Economic Outlook and Fiscal Review which serves as an update to Ontario's 2022 Budget.
Read More >
TIPS COLLECTED ELECTRONICALLY: Withholding Requirements
Where tips are “paid” by an employer, they are pensionable and insurable. In such cases, the employer must also withhold income tax and report the...
Read More >
EXECUTOR: Whether to Accept This Role
Individuals may be asked to take on various roles in respect of loved ones, friends, clients, or others. One role that is particularly riddled with...
Read More >
Stay in the Loop!
Receive valuable business resources in your inbox
