Company Vehicle or Personal Vehicle - What are the Tax Consequences of Work Vehicles in Canada?
If your business owns vehicles and they are used for both personal and business tasks, your tax implications can be cumbersome. It’s important to understand that the personal and business use of a vehicle results in different tax implications for the employer and the employees. Let us talk you through the company vs. personal use of vehicles and its tax consequences.
Future of Work - How AI is Reshaping the Work Landscape Around the World
Generative artificial intelligence tools are replacing several types of jobs and helping businesses form new dynamics around the world. The impact of generative AI tools is manifold from creating newer opportunities to joblessness, and from mental health challenges to job shifts.
Why should you read The Z-Book?
This book is designed to give an overview of the SR&ED Program of the Canadian Tax Credits & Refunds System to the busy executive and the business owner/manager. In order to keep the Canadian businesses competitive in the present global market, the Canadian government offers one of the most generous incentives to Canadian businesses to encourage them to engage in scientific research and experimental development (SR&ED). It is also available to foreign corporations conducting SR&ED in Canada. It is estimated that only a very small fraction of those eligible actually apply for this credit. It is also estimated that in the last fiscal year tax credits running into billions of dollars were approved, including refunds to eligible businesses. There is no upper limit set by the Government as to the amount of tax credits it is willing to give to eligible businesses with regard to SR&ED.
*Note: This book was released in 2011 and laws change over time. Seek professional advice.
