What Is a Trigger Rate – and How Does It Impact Your Mortgage?
The trigger rate applies to variable-rate mortgage holders that are on a fixed payment schedule. In case of variable rate mortgage (VRM), the trigger rate is the rate at which the regular mortgage payments no longer covers the accrued interest.
Read MoreExtension of Canada Emergency Business Account (CEBA) Repayment
The Canada Emergency Business Account (CEBA) program has provided interest-free, partially forgivable loans to nearly 900,000 small businesses and not-for-profit organizations to help them navigate the challenges of COVID-19 pandemic and remain resilient. The loan was given to cover their non-deferrable expenses such as wages, rent, lease payments, property taxes, utility bills etc.
Read MoreHow Do Capital Gains Work In Canada?
Selling your high-performing stocks or your investment property can reap significant profits, and those moments are worth celebrating. But while you’re enjoying the spoils of your investments, keep in mind that you’ll eventually have to pay tax on them. In Canada, most gains on capital assets are taxed.
Read MoreWhat Self-employed Contractors Need To Know About Taxes?
As an independent contractor, you can forget the standard 9-to-5 and set your own hours. Rather than earning an annual salary, it’s up to you to set the price of your work—and to sell it. Instead of receiving assignments from a manager, you get to choose who you work with and what type of work you do. Working as an independent contractor can provide you with great freedom when it comes to your schedule and income, but it can also make things more complicated during tax season.
Read MoreStarting A New Business? Avoid These Common Mistakes
Starting a new business for the first time is not always easy. There are many factors to take into consideration – whether financing, marketing, customer acquisition or dealing with legal issues. Many new businesses place legal concerns on the back burner due to costs and time constraints. They assume that legal problems can be dealt with later, but it may be too late or even more costly to fix.
Read MoreWhat Happens When You File Your Corporate Taxes Late – And How We Can Help!
Let’s admit that. Preparing and filing corporate tax return isn’t very enjoyable process for most. Often with busy schedules, we tend to put if off for just a little longer. So, what happens when you file your corporate tax returns late.
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