Archive | Financial Literacy

New Tax Rules for Writing-Off Assets

The April 2021 Canadian Federal Budget announced something called “immediate expensing” for most assets purchased after the budget date of April 18. This applies to Canadian controlled private corporations which we call CCPC’s. The additional deduction will be made on your corporate income tax returns. The property which must be acquired after April 18, 2021 […]

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Backups for Cloud Based Software

Cloud based accounting programs such as Xero, Quickbooks and Sage (among others), are becoming more popular. Canada Revenue Agency requires that any financial record which was created electronically, must be maintained electronically. What this means is that you must have access to the software which was used to create any financial records. If you cease […]

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Painless Financial Training Group Inc. with Debi Peverill

Understand Financial Stuff, Painlessly