CRA Moves to Digital-Only Correspondence for Businesses
Starting in Spring 2025, the CRA will switch to digital correspondence as the default for most businesses. Tax assessments, forms, and notices will be delivered through My Business Account instead of traditional mail.
SAV Associates’ Managing Partner Discusses New Cybersecurity Challenges – Read Our Feature in Associated Press
SAV Associates Strengthens Cybersecurity with AI, IoT Security, and Remote Workforce Protection
Understanding the Capital Gains Inclusion Rate Increase
The Canadian government has proposed an increase in the capital gains inclusion rate from 50% to 2/3, effective June 25, 2024. This change will apply to corporations, most trusts, and individuals with capital gains exceeding $250,000 in a given year. While this proposal is not yet law, the CRA has stated that it will administer tax filings based on these proposed changes.
Why Small Businesses Must Prioritize Cybersecurity – Read Our Feature in The Toronto Star
Cyber threats are a growing concern for businesses of all sizes, but small businesses are particularly vulnerable. Many entrepreneurs assume that cybercriminals only target large corporations, but in reality, smaller enterprises are often seen as easier targets due to weaker security measures.
It’s Officially Tax Season: Time to Get Prepared!
It’s that time of year again – tax season is upon us! In the coming weeks, Canadians across the country will be busy preparing to file their taxes for the 2024 year. Whether you’re an individual taxpayer or a business owner, filing taxes is an inevitable task, but it doesn’t have to be a stressful one.
SOC, ISO and Cybersecurity: Protecting Your Business and Data
As cyber threats continue to rise, protecting your business’s data and systems is more important than ever. Understanding how SOC, ISO, and cybersecurity measures intersect can help you implement effective security practices. Let’s break down how these elements can work together to safeguard your business.
CEBA Loan Repayment: What to Do If You Can’t Pay It Back
Navigating the repayment of a CEBA loan can be challenging, but understanding the process and communicating with the CRA can alleviate some of the burden. Learn more.
Achieving Excellence: SAV Associates Receives SCC Accreditation for ISO/IEC 17021-1:2015
We are proud to announce that SAV Associates has officially received accreditation from the Standards Council of Canada (SCC) for ISO/IEC 17021-1:2015 as part of the Management Systems Accreditation Program (MSAP).
Timing Your CPP Payments: The Financial Impact of Early or Later Retirement
Deciding when to start receiving your Canada Pension Plan (CPP) benefits is a crucial financial decision that can significantly impact your retirement income. Understanding the financial implications of these options is key to optimizing your retirement strategy.
TFSA Overcontributions: A Costly Mistake
Overcontributing to your TFSA can lead to significant penalties, and understanding how to avoid this trap is crucial for all account holders.