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What You Need To Know About Rental Properties

November 7, 2017


What are the tax implications when selling a rental property? As a general rule, a supply of real property situated in Canada, including residential property, is taxable unless the transaction is specifically exempted. The small supplier provisions do not apply to sales of real property. What is required for proof of Revenue & Expenses? Original…  Read more…

Are You Leaving Canada For Work?

November 3, 2017


Know Your Tax Obligations  The better prepared you are before leaving Canada, the better your experience abroad will be. Your tax obligations while living abroad depend largely on whether you’re a resident or non-resident of Canada. Your status is determined by a number of factors, including the purpose and permanence of your stay abroad, the…  Read more…

Business Expenses, What You Can & Can’t Claim

October 10, 2017


When claiming expenses for your business it’s important to keep all receipts or invoices pertaining to the expenses you want to claim. You can deduct any reasonable current expense you paid or will have to pay to earn business income, although some expenses do have limitations. The amount you can deduct depends if it is considered a current year…  Read more…

Should I Buy or Lease a Vehicle for my Business?

September 18, 2017


Sometimes the choice to buy or lease a vehicle can be daunting but the information below will help you make that important decision. Cost Buying Long-term gain: meaning that  once you buy it, it’s yours The cheaper option if you keep the vehicle for a long time Buyers can often get interest rates as low…  Read more…

Can You Claim Those Moving Expenses?

July 17, 2017


This is the time of year when individuals move to a new location. You may be eligible to claim your moving expenses on your tax return. You can claim eligible moving expenses if: you moved and established a new home to work or run a business at a new location; or you moved to be…  Read more…

Workspace-in-the-Home Expenses as an Employee

July 17, 2017


Are you an employee that is required to work from home? You can deduct expenses you paid in 2017 for the employment use of a work space in your home, as long as you had to pay for them under your contract of employment. These expenses must be used directly in your work and your…  Read more…

The CRA’s Annual Office Audit Letter Campaign

April 15, 2017


The CRA’s annual Office Audit Letter Campaign The Canada Revenue Agency (CRA) will soon be conducting its eighth annual Office Audit Letter Campaign. The letter campaign is designed to encourage behavioural changes among a selected taxpayer population by providing relevant information about their current or past reporting requirements and guidance on how to correct any…  Read more…

Does your business have tax debt? Don’t panic.

May 20, 2016


Does your business have tax debt? Don’t panic. You have options. Does your business owe taxes to the Canada Revenue Agency (CRA)? Ignoring your tax debt isn’t the best strategy. Avoiding payment could result in financial and legal consequences for you and your business. The CRA charges interest at the prescribed rate compounded daily on…  Read more…

Are You Missing A Cheque From The Canada Revenue Agency?

April 8, 2016


Are you missing a cheque or do you have an uncashed cheque from the Canada Revenue Agency? There are many reasons Canadians may be missing a cheque, or have not cashed their cheque from the Canada Revenue Agency (CRA). For example, people might have moved and not updated their address, the recipient might have died…  Read more…

Tax scams and fraud can cost you!

March 12, 2016


Protect yourself— tax scams and fraud can cost you! Taxpayers should be vigilant when they are contacted by an organization, either by telephone, mail, text message or email that claims to be from the Canada Revenue Agency (CRA) requesting personal information such as a social insurance number, credit card number, bank account number, or passport…  Read more…

The management and staff at Ashcroft and Associates are always professional in any dealing I have with them I would have no problem to recommend them to other businesses.
Anne Delaney
CEO Delaney Relocation and Home Support Services Inc.