As a small business, you may wonder if you need to charge and collect our province’s Harmonized Sales Tax (HST) on the goods and services you provide. Here, we’ll outline the rules that determine whether or not you should be collecting HST and sending remittances to the government and what to do if you must!
If you’re a small business in Ontario, you must collect and remit the sales tax to the Canada Revenue Agency on a quarterly or annual basis. In our province, businesses add a Harmonized Sales Tax (HST) rather than a combination of provincial sales tax and federal goods and services tax (PST/GST). The collection and remittance …
You may have heard of QuickBooks before, but do you know why you need it? The many web-based features, remote access capabilities, mapping integration through Google, and email functionality through Microsoft Outlook make Intuit’s QuickBooks program a trusted tool used by the Trillium team. Why do we recommend your small business use it?
Are you a new small business owner with some questions about your corporate tax returns? Read the questions we often hear at Trillium from clients navigating their annual taxes for the first time.
It can be easy to lose track of a piece of paper, or receipts, especially when many documents are floating around. If they don’t have a proper place, you might accidentally toss an essential piece of paper or shove it in a drawer. If you can’t find this receipt at tax time, you may have …
The Government of Canada uses income tax incentives to make clean energy projects more fiscally attractive for businesses. These clean energy tax credits encourage businesses and homeowners to buy, install, and rely on renewable resources like wind, solar, and geothermal energy. How do the clean energy tax credits available work?
One of the most recent policies passed in response to COVID-19 is an amendment to the Employment Standards Act, 2000 (ESA). It requires employers in Ontario to provide their employees with up to three paid sick days if circumstances due to the pandemic force them out of work. The legislation requires that employers give up …
How Does The New 3 Days Paid Sick Leave Affect My HR & Payroll? Read More »
By organizing your files before handing them over to your tax professional, you can simplify and speed up the tax filing process. It will get you that refund faster and might even reduce the chances of being red-flagged for an audit. Showing up to your accountant’s office with a garbage bag full of receipts, documents, …
How To Organize Your Files Before You Give Them To Your Tax Professional Read More »
At Trillium, we analyze finances for many members of our community: small and medium-sized business owners, entrepreneurs, and individuals. We make sure you receive all the tax benefits you are eligible to receive, but that’s not the only thing that makes our tax services special!
If you’re getting a tax refund this year, you probably want to know when to expect it in the mail or your bank account. The Canada Revenue Agency (CRA) has ways you can check the status of your tax refund. Usually, though, you don’t have to wait too long to receive it!
