Finsight CPA Logo
(604)961-5758
Book a Consultation

Disability Tax Credit in Canada: Eligibility, Applications, Retroactive Claims and Tax-Planning Opportunities

Registered Disability Savings Plan

Disability Tax Credit in Canada: Eligibility, Applications, Retroactive Claims and Tax-Planning Opportunities Living with a disability or supporting a family member with a disability can create significant financial costs. Canada’s Disability Tax Credit, commonly called the DTC, is intended to provide some tax relief and may also open the door to other valuable government programs, […]

Personal Services Business Canada: 7 Costly PSB Mistakes to Avoid

Taxpayer Relief vs. Notice of Objection – Choosing the Right CRA Process

Personal Services Business Canada: 7 Costly PSB Mistakes to Avoid Incorporating your business can provide real benefits, including limited liability, business credibility, tax planning flexibility, and easier contracting with larger organizations. But incorporation does not automatically mean your income will qualify for the small business tax rate. If you are an incorporated consultant, contractor, IT […]

GST: Quick Method – How to Save Money For Your Small Business With a Small Tweak

GST Quick Method overview showing how the remittance rate can reduce GST/HST remittances for eligible Canadian small businesses.

Still on the regular GST/HST method? The Quick Method can legitimately reduce your GST/HST remittance and cut bookkeeping — but only if you qualify and choose the right rate. Here’s the “small tweak” many owner-managers miss (and what it can save), plus the technical rules, exceptions, pitfalls, examples, FAQ, summary table, and a citation audit.

How to Protect Your Lowest Corporate Tax Rate: The Small Business Limit Explained

The “small business limit” is the cap on how much active business income your CCPC can tax at the lower small business rate—usually starting at $500,000, but often reduced or shared because of associated corporations, taxable capital, or passive investment income (AAII). Here’s how the rules work, where owners get tripped up, and what to watch before the CRA does.

Foreign Property Over $100,000? Why CRA Asks(T1135 Explained)

Foreign Property Over $100,000?

CRA asks about specified foreign property over $100,000 because Canada taxes residents on worldwide income—and foreign investments are harder to verify through normal slips. Learn what triggers T1135, common exclusions, penalties, and how T1135 differs from T1134.

Shareholder Loans in Canada: CRA Rules & Exceptions

Shareholder Loans in Canada: CRA Rules & Exceptions

Borrowing from your corporation can be legitimate—but shareholder loans are one of the CRA’s favorite audit targets. Here’s how subsection 15(2) works, the key exceptions (including the one-year repayment rule), the “series of loans” trap, deemed interest benefits, and what happens if the loan is forgiven.