KWB Blog

The latest financial news and accounting tips from KWB.

Nov 26 2019
Registering For GST

Do you need to register for GST? Some services are exempt from the GST/HST – that is, no GST/HST applies to them. This means that you do not charge the GST/HST on these services, and you are not entitled to claim input tax credits on property and services acquired to provide them. You cannot register for the GST/HST if your business […]

Sep 24 2019
Receipt Bank (now Dext)

If you would like to spend less time organizing your records and more time growing your business, you should automate your document retention with Receipt Bank (now Dext). Receipt Bank (now Dext) is a website application that extracts key information from your invoices and receipts and publishes it directly into Quickbooks Online (QBO). Integrates with […]

Sep 3 2019
Director’s Liability

What is director’s liability? While the tax debts of a corporation belong to the corporation and the tax debts of an individual belong to that individual, there are some exceptions to the rules. Directors may have liability for certain tax accounts of the corporations they serve. When a corporation faces insolvency, remittances to the government […]

Oct 3 2017
GST Compliance Campaign

If you have received mail from the Canada Revenue Agency (CRA) regarding previously filed GST returns it is likely part of their GST compliance campaign. In December 2016 and March 2017, the Canada Revenue Agency (CRA) launched a pilot project GST compliance campaign and sent over 750 letters to businesses registered for GST/HST. The letter […]

Sep 20 2016
New Home Rebate

Buying or building a new home? Did you know that if you purchase a new home or have substantially renovated your own, you can claim a rebate on the GST or HST you paid through CRA’s new home rebate. What qualifies? Your home must meet the following conditions: Must be you or your relation’s primary […]

Sep 9 2014

Did you know that Canada Revenue Agency has an online service called My Account which provides you with secure access to your personal or business income tax information? This online service is available 21 hours a day. (Closed from 1:00 AM to 4:00 AM) The following provides details on the information available through My Account […]