Category: Canada

The following may be considered when determining operating expenses: advertising. allowance on eligible capital property. bad debts. business start-up costs. business tax, fees, licenses and dues. business-use-of-home expenses. capital cost allowance. delivery, freight and express. What can self employed write off Canada? 10 Common Tax Write-Offs for Self-Employed Canadians Rent. If you work from home, […]

Currency: We design, issue and distribute Canada’s bank notes. Funds management: We are the “fiscal agent” for the Government of Canada, managing its public debt programs and foreign exchange reserves. Retail payments supervision: We supervise payment service providers, according to the Retail Payment Activities Act. What does the Bank of Canada regulate? Under the authority […]

You can create a large tax deferral by paying yourself a bonus if you have a corporate year-end in the last half of the calendar year. You have 180 days to pay a bonus while still being allowed to take a deduction in your corporation. Can an owner pay himself a bonus? If you are […]

For example, although the government records vital statistics using metric measurements, Canadians generally measure their weight (and loss of weight) in pounds, and their heights in feet and inches. Cooking is another example where Canadians will use imperial over metric. Does Canada use kg or lb? However, measurement in Canada is somewhat of a hybrid […]

Quarterly, by the 15th If you are self-employed, make your instalment payments of tax and CPP contributions by these dates: 1st instalment: March 15. 2nd instalment: June 15. 3rd instalment: September 15. Do you have to pay quarterly taxes if self-employed Canada? Important tax deadlines for 2022 If you expect to owe more than $3,000 […]

The Bank of Canada can influence monetary conditions by changing the capital requirements banks need to hold as reserves. The Bank of Canada also sets interest rate policy, which controls the amount of money lent throughout the economy. Does the Bank of Canada control the value of money? The foreign exchange market determines how much […]

The Bank of Canada When the economy is underperforming or in a recession, the BOC may purchase additional government assets, or bonds, through a stimulative process called quantitative easing (QE). Who decides how much money printed? The U.S. Federal ReserveThe U.S. Federal Reserve controls the money supply in the United States, and while it doesn’t […]

The most widespread story is that poutine originates from a restaurant formerly called Le Lutin qui rit in Warwick, in the Arthabaska region. In 1957, a client named Eddy Lainesse would have asked the owner Fernand Lachance to mix the cheese curds with the fries. Genius! Who invented poutine Canada? It is widely accepted that […]

Provincial government in Canada is responsible for property and civil rights, administration of justice, natural resources and the environment, education, health, and welfare. What is provincial government responsible for? Provincial legislatures are responsible for such activities as education, health care, social welfare, and highways, as they pass laws that affect only the people of their […]

CDIC protects eligible deposits to a maximum of $100,000 for each of eight deposit categories. Depositors with funds that are not protected by CDIC would be able to file a claim with the liquidation firm after it is appointed by the courts. What happens if banks fail in Canada? Deposit insurance protects your savings if […]