Tax Question:What is the Canada Job Grant? Facts:The Canada Job Grant helps employers train new or existing employees by sharing the cost with the employers. Employers can receive up to two-thirds of the cost of training for current and future employees, up to a maximum government contribution of $10,000 per grant. For example, if an employer […]
Malta has nearly completed its new regulations which will draw together the special purpose reinsurer concept with protected cells. Cell companies have been an established feature of Maltese legislation since 2004, following the enactment of the Companies Act (Cell Companies carrying on business of insurance) Regulations, 2004. Moreover, the island is one of the domiciles […]
VAT Mini One Stop Shop – Supply of Digital Service There are some major changes set to be made to the way VAT is accounted for businesses supplying ‘digital services’ to non-business customers within the EU. Currently, the place of supply is determined by the location of the supplier of the services. From 1 January […]
Tax Question:What is Probate? Facts:Probate is a legal document that resolves all claims and distributes the deceased person’s property under a will. It is the first step in the legal process of administering the estate of a deceased person. A probated will is a will that has been reviewed by the courts and deemed to be […]
Osborne’s message that Britain’s economic plan is working and we will continue to implement it. So there we are, George Osborne’s fifth and final Autumn Statement of this parliament. With an election in May this was always going to be a very politically driven speech. This combined with many spending announcements that were already made […]
Tax Question:As a non-resident of Canada do I owe Canadian tax on the sale of my Canadian real estate? Facts:If a property owned by a non-resident is sold in Canada there is tax due. The risk is on the purchaser (not the seller) that Canada Revenue Agency (CRA) will try to collect tax from them if […]
Tax Question:What is a Clearance Certificate and why is it important? Facts:A clearance certificate is a document that you apply for with Canada Revenue Agency (CRA) that certifies all amounts for which the deceased is liable to CRA have been paid, or that they have accepted security for the payment. If you as the executor do […]
Remembrance Day Remembrance Day was first observed in 1919 to honor our soldiers who gave the ultimate sacrifice for their country. Originally called Armistice Day, it commemorates the end of World War 1 which took place on November 11, 1918 at 11:00am or the 11th hour of the 11th day of the 11th month. Armistice Day became […]
Welcome to the November 2014 edition of our Inspire newsletter. Business Forums We had high attendance at our October Business Forum on Tuesday, with Jane Michel from Emphasis giving everyone ideas for restructuring and motivating their teams. Our November Business Forum is set to be our busiest yet with Rhys Herbert from Lloyds Bank discussing the 2014/15 economic […]
Do you know how to make your corporate payments to the Canada Revenue Agency (CRA)? Read on to find out. Tax Question: How can I make my corporate payments to Canada Revenue Agency (CRA)? Facts: You can make a payment to CRA by online banking, debit card (Interact® Online), pre-authorized debit or a third-party service provider […]
GILMOUR KNOTTS CHARTERED ACCOUNTANTS IS CELEBRATING 20 YEARS IN BUSINESS!! We opened our doors on November 1, 1994 and have had many memorable and exciting moments. Over the years we have grown, moved, grown some more, moved again and built an amazing list of wonderful clientele, and improved our firm with innovative ideas and strong skill […]
Tax Question:If a Canadian business retains the services of a non-Canadian business, does it have to withhold tax? Facts:Regulation 105 of the Income Tax Act requires any one who pays fees, commissions or other amounts to a non-resident person (individual or corporation) who has provided services in Canada, to withhold taxes calculated as 15% of the […]