New answers tagged

1

In order to qualify for EI you must be: ready, willing and capable of working each day That means approximately work a normal day each weekday. If you can't do that you don't qualify. If you are unable to work because you are sick there is EI sickness benefit. This assumes that you have a job, but are unable to perform it because of sickness. You could ...


7

Here is a page describing when you can collect EI after quitting your job voluntarily. The simple summary is that you will be paid EI if "The only reasonable alternative for you is to quit your job". Health issues are a valid reason but it's not as simple as "I think the work is unhealthy". Your concerns need to be reasonable and ...


0

the mod adds a reference to one of your products That provides a clear benefit to your company so you could deduct it as a business expense. Good will doesn't matter.


20

There is no gift tax in Canada. Neither the giver nor the receiver have to pay tax on a gift (unless it's from your employer or something similar). There are a number of rules around income attribution preventing couples from doing unauthorized income splitting, but none of them apply here. You can pay whatever expenses of your wife's you like. You can pay ...


1

The signalling of intent and depth of reporting are the biggest differences. Soft pulls are initiated by marketers and others with an interest in assessing your value as a prospective customer. Soft pulls are being run against you all the time, usually ahead of your receipt of pre-approved credit cards and other junk. Since this is happening (somewhat) ...


0

Yikes. I highly suspect your corp has under-reported income in the past, if you are claiming personal vehicle costs without corresponding business income. Seek paid advice from a tax expert about filing a "voluntary disclosure" to make things right before you do anything else. Dividends can be paid out of passive income, but it seems quite possible ...


2

Disclaimer: Note my answer is based on US FICO credit models, but my understanding is that Canada uses similar models, so I expect most of this answer will be relevant. In theory, it would be better for you if all banks did an initial soft credit check first so they can provide rates based on your information. (I don't know why not all banks do this.) Once ...


1

The Canada link is how to fill out receipts. They will be broken down into 'first 60 days' and 'remainder of the year'. Your understanding of contributions available to deduct is correct. Basically all unused previous contributions up to the first 60 days of the year following the tax year. eg. You still have until March 1st 2022 to contribute for the ...


0

LLCs are more about liability than taxes. You can deduct actual business expenses as a sole proprietor without having to set up an LLC. But the crowdfunding itself may not be taxable income. It depends on the nature of the contribution. Meaning was the contribution made in return for some ownership? Or is there an agreement to repay it at some point? Or just ...


0

Major changes to paragraph 212(1)(b) – Elimination of withholding tax on arm's length interest paid or credited to non-residents effective January 1st, 2008. Prior to the amendments, paragraph 212(1)(b) was structured so that interest payments were taxable, other than those set out in a series of subparagraphs. In a significant revision of the non-resident ...


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