A Plus Counting Services Inc.

Canada Carbon Rebate for Small Businesses was recently approved. Canadian Controlled Private Corporations (CCPCs) with at least one employee will receive credits for 5 years starting from 2020 in Alberta. Corporations do not need to apply; eligibility will be determined by the Canada Revenue Agency (CRA). The values of the refunds are currently unknown and will be determined by the Alberta Government in the near future.

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Canada Carbon Rebate for Small Businesses - Canada.ca The Canada Carbon Rebate for Small Businesses is a refundable tax credit announced in Budget 2024 to return a portion of federal fuel charge proceeds directly to eligible Canadian-controlled private corporations (CCPCs).

Starting January 1, 2023, if the house is sold within a year after it was purchased, it must be treated as a business transaction and income tax (and possibly GST) should be paid on the income earned. Exclusions:
- death of the owner or related person,
- a related person joining a household,
- breakdown in relationship for at least 90 days,
- threat to safety,
- disability or illness,
- employment change (new home at least 40 km closer to the new work location),
- insolvency or to avoid it
- involuntary sale (e.g., natural or man-made disaster)

More information

Income Tax Act and Income Tax Regulations Amendments to the Income Tax Act (the "Act" or "ITA") and the Income Tax Regulations (the "Regulations" or "ITR") Subsection 12(12) of the Act provides a deeming rule that results in a gain on the disposition of a flipped property (defined in new subsection 12(13)) being fully taxable as ordinary income. The deeming rule applies if the disposition would have otherwise resulted in a capital gain in the absence o...

Low income renters have an opportunity to get a one time $500 benefit until March 31, 2023. The most important conditions:
- to live in Canada through 2022
- file 2021 taxes
- 2021 income was lower than $20,000 for individual or $35,000 for a family
- 2022 rent payments were greater than 30% of adjusted family income

More details at

One-time top-up to the Canada Housing Benefit - Canada.ca The one-time top-up to the Canada Housing Benefit is a tax-free one-time payment of $500 for eligible low-income renters to help with the cost of renting.

The 2022 filing tax season starts on February 21st, 2023. Feel free to book in person or a remote appointment at our website https://apluscounting.ca or at the following link https://app.acuityscheduling.com/schedule.php?owner=19035561

Please email us at [email protected] to request a checklist.

A Plus Counting Services Inc - accounting services. A Plus Counting - provides accounting services, tax preparation, and small business consulting. Flat fees and no hidden prices help run your business.

Grants for adopting ecommerce, more information

Alberta - CDAP | Digital Main Street As part of the Canada Digital Adoption Program, Business Link has partnered with Digital Main Street and their ShopHERE powered by Google program to deliver the Grow Your Business Online grant to small businesses across the country.