SAMS Bookkeeping

11/27/2024

The government announced that it will provide a two-month GST/HST break for groceries and holiday essentials, from December 14, 2024 to February 15, 2025.
How it Works:
Businesses are expected to remove the GST/HST on qualifying goods at checkout as of December 14, 2024 and ending on February 15, 2025.
For a list of qualifying goods, click below:

The government is proposing that the GST/HST be fully and temporarily relieved on holiday essentials, like groceries, restaurant meals, drinks, snacks, children’s clothing, and gifts, from December 14, 2024, to February 15, 2025. This tax break will make a meaningful difference for Canadians by ma...

07/07/2024

The Government of Canada announces new rebate to help businesses with carbon pollution pricing
June 26, 2024

Canada Revenue Agency

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).

The Canada Revenue Agency (CRA) is working towards issuing the retroactive payments, which total over $2.5 billion with respect to the 2019-2020 to 2023-2024 fuel charge years.

To be eligible for the rebate for one or more of the fuel charge years (which run from April 1 to March 31), a CCPC must:

have employed one or more persons in a designated province in the calendar year in which the fuel charge year begins;
have had 499 or fewer employees throughout Canada in that calendar year; and
have filed their corporate income tax return for the tax year ending in 2023 no later than July 15, 2024.
CCPCs do not have to apply for this rebate. Once the Minister of Finance has specified the payment rates for each designated province for the applicable fuel charge year, the CRA will calculate and automatically issue the rebate amounts to those who are eligible.

It is too early to determine the exact distribution date for the rebate amounts. We will provide updates on the timelines in the coming months.

For more information on how the rebate payments will be calculated and the designated provinces, go to Canada Carbon Rebate for Small Businesses.

07/04/2024

Unlock the potential of the CRA’s self-service options
If you have filed your taxes in Canada in the last two years you can register for My Account.

My Account helps save you time as you can:

apply for new benefits;
track your requests;
check on your incoming payments and any amounts you may owe;
update your personal information;
find any unused government cheques;
sign up for direct deposit to get all your benefit and credit payments, and even your tax refunds, deposited straight into your bank account.
NEW this year: you won’t have to wait for a CRA security code in the mail anymore when you register. We’ve introduced a digital identity validation option, known as the document verification service. Just take a picture of your accepted government-issued photo identification, and of yourself, when you register to have your account validated on the spot!

07/01/2024

Happy Canada Day! 🇨🇦

06/26/2024

Great Meal News for Canada Day Celebrations!

Your Canada Day celebrations are about to hit a new level of delicious! 🤤 The Mandarin is celebrating their 45th anniversary in Canada by offering everyone a FREE buffet meal at any Mandarin location across Ontario on July 1 🍁
Check out the website for important Event details and to find the location nearest you!

We celebrate life's special moments and everyday wins with everyone. We do this with high quality food, a warm atmosphere and friendly service for our customers. OUR STORY Enjoy the Taste of Mandarin at Home Choose from our extensive selection of award-winning dishes and enjoy it all in the comfort....

06/19/2024

Upcoming Payment Dates:
Carbon Tax Rebate - July 15 & October 15, 2024
GST/HST Credit - July 5 & October 4, 2024

06/02/2024

Welcome to SAMS Bookkeeping!