Personal Services Business
Understanding Canada's Personal Services Business (PSB) For Tax Purposes
In Canada, the concept of a Personal Services Business (PSB) under subsection 125(1) of the Income Tax Act, R.S.C., 1985, c. 1 (5th Supp.) (“ITA”) is a critical tax classification that affects incorporated individuals who provide services...
Covid Benefit Determinations: Not Considered Part of the Assessment of Tax, Penalty, and Interest
Covid Benefit Disputes & Notices of Objection
When it comes to the Canada Emergency Response Benefit (CERB) or Canada Recovery Benefit (CRB), taxpayers disputing benefit denials have the option of two internal Canada Revenue Agency (CRA) reviews before pursuing an application for judicial review in Federal Court. The...
Understanding the Canada Child Benefit: A Guide for Families
Understanding the Canada Child Benefit: A Guide for FamiliesThe Canada Child Benefit (CCB) is a tax-free monthly payment designed to help families with the cost of raising children under the age of 18. The benefit, introduced in 2016, has become a vital financial resource for many Canadian families, aiming to reduce child poverty and ease the...