Gabriele Banka

Banka: Bookkeeping for corporation vs. sole proprietorship

A sole proprietorship's income tax is paid at the owner’s marginal tax rate; a corporation has its own tax rate and tax credits.

Banka: Tax credit changes coming

The first tax credit from the Liberal federal government to go is the Family Tax Cut.

Banka: Canada Child Benefit and other tax child matters

…it has been CRA’s policy to allow back payments for the last two years once you bring your tax filings up to date.

Banka: Director’s liability in small corporations

Whatever happens, you want to make sure your family members have a roof over their heads and can feed themselves if the company goes south.

Banka: Germans appeal decision on pension tax Cdns pay

Court action to dispute taxes on the German Social Security Pension is under appeal by German tax authorities.

Banka: Some carehome expenses are deductible

Canada Revenue has ruled that several items provided by a car home establishment would be deductible.

Banka: Family tax write-offs and the new federal budget

Formerly the Universal Child Care Benefit, as of July 2016 the Canada Child Benefit will still be taxable to you.

Banka: Importance of a financial plan

A financial plan put down in writing will help you achieve personal goals in life.

Banka: RRSP unused contributions

The "unused RRSP contribution" is the amount you have overcontributed to your RRSP.

Banka: Think of the impact of PST when buying a business

When you are buying a business expect to pay PST on the assets that are considered taxable.