For many Canadians, hearing from the Canada Revenue Agency (CRA) can be stressful. Whether it’s a letter requesting documents, a reassessment, or a formal audit, understanding what to do — and what not to do — can make all the difference. At ANR, we help taxpayers navigate CRA communications calmly and confidently. Here’s a clear,…
Self-employed, a major life event, investments, retirement or a CRA review or audit are just a few examples of where ANR can help.
Understanding the tax filing of an Estate is essential for an Executor. At ANR, we advise Executors on the available options to make their role easier.
Some Advice from Someone Who Lived It… I am sharing my experience with you in hopes to provide some advice, some items to think about and the issues that arose that might not have crossed your mind. December 9, 2024. Monday. I woke up like every Monday morning, a busy week ahead heading into the…
Budget 2024 was an interesting one and it made June 25th very interesting for taxpayers. June 25th is the day when how Capital Gains are taxed in Canada. What does it mean to you? I thought I would share some thoughts to help clear up the noise in the system. A Capital Gain is created…
Happy New Year. With the New Year come some important changes that as a business owner, you should know about. Canada Pension Plan Not only has the maximum pensionable earnings changed for CPP as of January 1, there is now a second contribution rate. The maximum pensionable earnings has been set at $68,500 and the…
Every year, before heading into the Holiday season, the Canada Revenue Agency provides important information for what is in store for 2025 on tax brackets, RRSP and TFSA limits and changes to the prescribed interest rate. Here is a quick summary of what to expect in 2025. Tax brackets for 2025 For 2025, all five…
The 2024 Federal Budget was released late this afternoon. While many of the new Federal Government programs were announced in the past few weeks, the Budget contained lots of new tax considerations that individuals and business owners need to be aware of. Lately, there has been talk about the “Positive Sandwich” around the Office. It is…
The New Trust Filing Requirements and Fishers There has been many questions about the new legislation and new filing requirements around something called a Bare Trust. Essentially, this new legislation is wide spread and is making certain situations on how an asset is held to become reportable and the need to file a T3 information tax…
Happy New Year! We have a few changes at ANR to start the New Year. It is important to us for you to know what those changes are and what they mean to you. Kicking off the New Year, we will become ANR Chartered Professional Accountants P.C. Inc., but you can still call us ANR!…
Late last week, the Federal Government passed Bill C-208 which changed the Income Tax Act of Canada is a positive way for small business owners. It allows small business owners easier access to the Lifetime Capital Gains Exemption on the sale of their shares to the next generation. In the past, for a small business…
Over the past two months, I have had the Tax Proposal on my mind and it isn’t simply because I am a Tax Geek. The Proposal from my first read was concerning, not only to me, a Small Business Owner who uses a Private Corporation, but to my Community and the businesses within it. As…
On July 18, 2017, the Department of Finance released the Proposal, Taxation of Private Corporations. The Proposal proposes significant changes to tax legislation that would have a significant effect on almost all of our businesses in Charlotte County. I posted a blog earlier this summer on the details of the Proposal so you can follow…
On July 18, the Federal Government’s Department of Finance released a 63 page proposal on potential tax legislation reform directed at Small Businesses (who utilize a corporation to run their business). The full proposal can be found here: Tax Planning Using Private Corporations. The general public has until October 2nd to provide comments, analysis and…
I have been asked by many people why I chose to become an Accountant, especially one who specializes in taxation. The obvious answer is the glamour that come with being an Accountant or the excitement of the profession as seen by a new movie coming out, The Accountant starring Ben Affleck. There are two reasons…
This past Tuesday, I received word that Brian Parsons passed away. I had known Brian all my life, as his parents and my grandparents were good friends and I grew up with Brian’s children, Jared and Sam. Not only did I know Brian on a personal level, I worked for him during the summers in…