Cryptocurrencies and taxes
Although CRA doesn’t specify the taxation mechanism of Bitcoin and other digital currency, they apply commodity rules to it. This means if you are actively trading your digital currency you need to treat it as a security. You must declare capital gain on the trade of cryptocurrencies.
New Government Funding for Small Businesses
In July 2017 Canadian Government announced a new fund - The Strategic Innovation Plan - aimed at the development of the new technologies in Canada.The program has a budget of $1.26 billion over five years. The fund is open to all business sizes - from small to large or groups of companies. All businesses have to be incorporated.
The Search for a New Economic Model
With a highly dense and growing population on a finite Earth, we need a new economic model – one that addresses social inequality and brings balance and peace to people while honouring natural limits. We need a simple and logical solution that involves new, green technologies. Even though these would aid in the betterment of the Earth, they are outwardly directed. Our technological progress won't create peace, balance and well-being for our Earth and the life it supports. Without a new understanding, we could create another type of division, and a new reallocation of wealth.
Year-end tax tips - 2016
Every year at this time, we remind all of our clients to review several tax strategies.
BC Renewable Energy Statistics
This is a short statistical overview of British Columbia’s position within Canada on renewable energy.
Tax treatment of renewable energy equipment
Just a quick reminder that the CRA allows accelerated depreciation of equipment, machinery and assets used for the construction and development of renewable energy. There are 16 categories included in this accelerated group. Depending on the year of acquisition, those assets can be depreciated at either 30% or 50%.
Faith and Finances
Today I would like to highlight an interesting trend in the world – Faith in Finances. Who would think that world religions would decide to take the initiative on active investments? Traditionally, we think about churches as supporters of the poor, and a socially under developed and troubled population.
New Funding Provided by BC Hydro
We would like to encourage and promote energy efficiency and new technology development that would optimize and modify energy consumption. In this blog we would like to let you know about the programs, subsidies, funding, new rules and regulations that can guide you in the market of energy efficiency.
Steps to Energy Efficiency
Recently, one of my clients who owns and operates a solar power grid company made several attempts to introduce his project to the community, municipal leaders, investors and local businesses. Unfortunately, the tepid reaction and lack of support from the community made the project futile.,
Tax News – Principal Residence Exemption Changes
On October 3rd, Revenue Canada announced changes to the principal residence exemption. Starting this year, we are required to report every sale of a principal residence whether we owe tax or not.
New Approach to SR&ED Applications
The Scientific Research and Experimental Development (SR&ED) tax credit is designed to help decrease the operating expenses of the companies that are contributing to the overall scientific and technological advancement of the country with their processes, research and developments.
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