Blog
T5 – Return of Investment Income
As a small business owner, you may be asking yourself: “Do I need to submit a T5 slip in addition to a T4 slip?”
Registered Retirement Savings Plan (RRSP) the tax advantage “future you” will be happy about!
Every year RHN gets asked questions about RRSP’s. We have put a few of the most important together here!
Farmland Leases: What You Need to Know
Is your dream to operate a vineyard, an orchard or other agricultural pursuits? Cher Wood, CPA, CGA has a wealth of knowledge when it comes to operating a vineyard or conducting other agricultural activities in B.C. As a former vineyard owner Cher is knowledgeable in...
BC First Nations and GST: What you need to know
As we all know, Canada’s tax laws are complex and the repercussions from going “off-side” with the Canada Revenue Agency and other tax authorities can be severe. RHN CPA has a dedicated team of tax professionals that you can solve your complex tax problems and help...
New BC Employer Health Tax Registration and Installment Payment deadlines are fast approaching. Are you ready?
New BC Employer Health Tax Registration and Installment Payment deadlines are fast approaching. Are you ready? Employers required to pay installment payments must register by May 15, 2019 First Installment payment is due by June 15, 2019 Check out our December 2018...
Dividend Tax Credit Glitch at CRA
CRA has had a computer glitch that could affect any BC resident taxpayers with dividend income. Their system has been disallowing the BC portion of the Dividend Tax Credit. Their notices simply say that “We changed your British Columbia dividend tax credit to $0.00....
CRA Scam Alert: it looks so real – don’t be fooled
Scams are getting harder to spot! The latest CRA scam looks so real - don’t be fooled. CRA does not accept credit cards as payment and will never ask you for your credit card information, even for a REFUND! When in doubt contact your trusted accountant at RHN. The...
GILTI – Are you a US citizen? Do you own shares in a private company?
The recent U.S. tax reforms introduced measures discouraging U.S. companies from shifting profits to foreign countries. Specifically, the Global Intangible Low-Tax Income (“GILTI”) is a new source of income to be included in a U.S. taxpayer’s filings that is derived...
BC Employer Health Tax Overview
In the last provincial election, John Horgan and his NDP caucus, had the vision to fully eliminate Medical Services Plan (MSP) premiums by January 1, 2020. To help fund the elimination of MSP premiums, the Ministry of Finance is introducing an employer health tax...
2018 Federal Fall Economic Update
2018 Federal Fall Economic Update Are you needing to purchase equipment for your business? Now would be the time! On November 21, 2018, the Minister of Finance presented the Federal Government’s 2018 Fall Economic Statement. In the statement, the Government announced...
RHN’s Commentary on the 2018 Federal Budget
On February 27, 2018 the federal government presented Canada’s 2018 federal budget. Particular tax changes of note were in respect of passive investment income and confirmation of the income splitting measures as noted in the draft legislation introduced in 2017....
Splitting Income from Small Businesses with Family Members
The Government of Canada has now released draft legislation to implement their summertime proposals around splitting income from small businesses with family members. They have made some concessions to the uproar that resulted from their original proposals in the...