Tax instalments are payments you make throughout the year to cover the taxes you normally pay in one lump sum on April 30 of the following year. You pay these instalments during the year while you are earning the income, similar to how an employer deducts tax directly from each pay period.

‘The purpose of this notice is to provide information relating to the application of the luxury tax on certain vehicles. Vehicles that could be subject to the luxury tax include sedans, coupes, hatchbacks, convertibles, sport utility vehicles and light-duty pickup trucks priced above $100,000.’

Come and join us as Reschke Fritz LLP helps sponsor the 2022 Devon Chamber of Commerce Golf Tournament at the Devon Golf & Conference Centre.

The government of Alberta has published some information relating to the some affordability and relief programs.

The government of Canada introduced a national, annual 1% tax on the value of non-resident, non-Canadian-owned residential real estate in Canada that is considered to be vacant or underused, subject to certain exceptions. This was passed into law with Bill C-8 receiving Royal Assent on June 9, 2022. This tax is effective for 2022, and later calendar years.

As a taxpayer, you should be cautious if you receive any communication that claims to be from the Canada Revenue Agency (CRA) and requests personal information such as a social insurance number (SIN), credit card number, bank account number, or passport number

The Government of Canada has introduced the “Canada Digital Adoption Program” (CDAP) which offers a grant to support Canadian-owned small and medium sized enterprises (SMEs) who want to adopt new digital technologies.

There have been some changes effective January 1, 2022 regarding the purchase and lease cost limits and expense reimbursements for tax purposes.

Click here to read our 2022 Quarter 2 newsletter.

The Government of Canada has recently announced the December 31, 2022 forgiveness repayment date will be extended to December 31, 2023 for eligible CEBA loan holders in good standing.

On behalf of Reschke Fritz LLP, we want to give a big shout out and many thanks to our team for putting in the many and long hours to get us to the end, with smiles on the whole way. We also want to thank our clients who have worked with us and we appreciate and value your continued patronage with us.

To learn more about the 2022 Federal Budget please take a moment to read our Federal Budget Commentary

This year the annual Canadian Ag Day event is on February 22. This day has become popular on social media in Canada with the hashtag #CdnAgDay trending for the last few years

As of February 21, 2022, your tax returns can be filed with Canada Revenue Agency (CRA)

The government has announced new proposed regulatory changes to temporarily expand eligibility for wage and commercial rent support for businesses and other organizations under the Local Lockdown Program.

You can use cryptocurrencies for a wide range of activities, such as buying goods, paying bills, or investing. Transactions involving cryptocurrencies often have tax implications.

The repayment deadline for CEBA loans to qualify for partial loan forgiveness is being extended from December 31, 2022, to December 31, 2023, for all eligible borrowers in good standing.

The CRA adopted certain positions on employer-provided benefits pertaining to commuting costs and parking, as well as computer and home office equipment.

In phase two, producers can apply for additional compensation (a secondary payment) to help cover extraordinary costs over and above the phase one initial payment. Beekeepers are also eligible for phase two.​​​​​​