News & Blog

Your 2019 Federal Budget Update

ON MARCH 19, 2019 THE HONOURABLE BILL MORNEAU, MINISTER OF FINANCE, PRESENTED THE 2019 FEDERAL BUDGET, “INVESTING IN THE MIDDLE CLASS”, TO THE HOUSE OF COMMONS. Election year budgets often include various tax credits & enhancements aimed at specific groups of voters. This budget is no different with tax changes aimed at: individuals & companies looking at zero emission vehicles, farmers & fishers transitioning their businesses to the next generation, and those trying to enter the housing market for the…

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Ask an Accountant: Northern Residents Deduction (NRD)

Permanent residents of certain regions of northern Canada can claim the Northern Residents Deduction (NRD) on their personal income tax return, which in turn could significantly reduce their tax bill. However, it is crucial that you understand the qualification rules and guidelines provided by the Canada Revenue Agency (CRA) in order to take advantage of these deductions.   Qualifying as a Northern Resident: You are considered a “northern resident” if: You have lived on a permanent basis in either a…

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Tips to Remember for Tax Time

Tax time is stressful for all of us, whether it’s for your business or your personal taxes. That’s why KBH Chartered Accountants, with some help from the CRA, have compiled a list of tips that could save you time and money. At tax time, try to remember these eight things: 1. Do your taxes Even if you didn’t receive any income in 2017, you may still get a tax refund and be eligible for benefit and credit payments. For example, families…

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