What Triggers a CRA Audit?

November 23, 2014 RHN CPA No Comments

When clients are audited by the Canada Revenue Agency, one of the first questions they ask is “Why me?” Generally, CRA Auditors are coy about the subject when asked – they will tell you that the “system” selects your tax…



Canadian-US tax filers rejoice! IRS drops Form 8891 for RRSPS

November 4, 2014 RHN CPA No Comments

Tax rules, especially when dealing across International borders, can be complicated and cumbersome. Here’s a (rare) piece of good news that may simplify your tax life! According to this article, Canadians who are also US taxpayers will no longer need…



A Refresher on Old Age Security Changes

November 4, 2014 RHN CPA No Comments

The Old Age Security (OAS) pension is a monthly payment available to most people who have met the Canadian legal status and residence requirements. You can receive the OAS pension even if you have never worked or are still working….



Government of Canada announces new tax credits for families

October 31, 2014 RHN CPA No Comments

The past few weeks have been full of new and exciting (yes, exciting!) tax credits for families. Several weeks ago, the government announced two major changes to the Child Fitness Tax Credit: the maximum expense claim has doubled from $500…



Latest email phishing scams pretending to be CRA

October 17, 2014 RHN CPA No Comments

There is a new wave of email phishing scams, where fraudsters pretending to be the Canada Revenue Agency (CRA) ask for personal information such as credit card, bank account and SINs. Be aware and DO NOT click on links included…



Spring forward – Fall back? It’s never too early to start organizing for tax season!

October 9, 2014 Cher Wood, CPA, CGA No Comments

Spring welcomes the idea of cleaning out the nooks and crannies of your home and garage that have been battened-down for the winter and now need refreshing. Now let’s fast forward to fall. Fall is also the time to get…



Bruce Hurst and John Nagy receive top awards at CGA-BC’s Chair’s Banquet and Awards Gala 2014

September 26, 2014 RHN CPA No Comments

Reid Hurst Nagy Inc. has always been proud of the caliber of leadership at the helm of our firm. This year, two of our founding Shareholders and Directors received highly notable and well-deserved awards at the CGA-BC’s Chair’s Banquet and…



CRA’s SR&ED Tax Incentive Program 4-part Video Series

September 23, 2014 RHN CPA No Comments

You may have heard of CRA’s SR&ED (Scientific Research and Experimental Development) tax incentives program – Do you know who can claim it and what qualifies for the incentives? Watch this 4-part video series from CRA to learn more. http://www.cra-arc.gc.ca/vdgllry/bsnss/srs-tx-ncntv-prgrm-eng.html?utm_source=sred&utm_medium=eml…



IMPORTANT INFORMATION FOR NOT-FOR-PROFIT ORGANIZATIONS!

September 22, 2014 RHN CPA No Comments

Not-for-profit organizations currently registered under Part II of the Canada Corporations Act are required to continue under the new Canada Not-for-Profit Corporations Act. The new Act establishes a new set of rules for federally incorporated not-for-profit corporations in Canada that…



Doing Business on the Internet – the Taxation of E-Commerce

September 22, 2014 RHN CPA No Comments

When Canada’s first Income Tax Act was drafted in the early part of the 20th century, nearly all businesses were run out of brick and mortar buildings that had street addresses. Nearly 100 years later, a lot has changed. Only…



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