GST/QST, How to correct a mistake without affecting your finances too much?

The complexity of sales tax rules can lead to misunderstandings and errors in their application. Also, errors in transaction accounting may occur in accounting systems, resulting in taxes not being properly reported on tax returns. How can this be corrected without excessive cost?

Who is obliged to keep a travel register?

Owning and using a vehicle as part of a business can be a headache for managers and executives. The tax rules governing this type of asset are many and complex, both in terms of deductibility for tax purposes and the application of sales taxes. The purpose of this article is to talk specifically about the notion of keeping a travel logbook, an obligation for whom in fact?

Gradual elimination of ITR restrictions for large companies.

In these times of gloomy income tax announcements, there’s good news on the horizon for the QST.

Indeed, as announced in the 2015-2016 provincial budget, Revenu Québec will be phasing out restrictions on input tax refunds (“ITRs”) for large businesses. For clarification purposes, a company is considered a large business, in the QST regime, when its total taxable sales made in Canada, as well as those made by companies associated with it, exceed $10 million per fiscal year.

RESPONSIBILITIES OF NPO DIRECTORS: Do you know the risks?

Many of us sit on the boards of various not-for-profit (“NPO”) organizations, from sports associations to charities. Few, however, are aware of the responsibilities that may arise from this involvement, often carried out on a voluntary basis. Sections 323 of the Excise Tax Act and 24.0.1 of the Tax Administration Act provide that where a […]