Business Markets

Have Canadian income tax questions related to running a business?

Whether you’re wondering how long you have to keep your business records, when corporate income tax is due or about what you can or can’t deduct on your income tax, these Canadian income tax FAQs have the answer.

Click on any of the Canadian income tax questions below to read the answer to that Canadian income tax question.

Canada Tax Questions: Canadian Income Tax Dates and Penalties

Q. When are Canadian taxes due?

Q. When must Canadian corporate income tax returns be filed?

Q. When are corporate taxes due if there is a balance owing?

Q. What happens if I don’t file my Canadian income tax on time?

Q. What happens if I can’t pay the Canadian income tax that I owe?

Canada Tax Questions: Filing Canadian Income Tax

Q. What are my options for filing Canadian income tax?

Q. How do I report my business income and which Canadian income tax forms do I need?

Q.

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Q:How has the housing decline affected your business?

A:Last year was a slow year. Listings were very difficult, because sellers were unrealistic about what they could get. Fortunately, that’s changing. But there’s not enough inventory right now, and some of the properties are still poorly priced. People don’t want to sell their house and come to the table having to put down a check.

Q:What advice would you have for people who want to go into real estate right now?

A:You can still make good money in real estate without spending a lot. With a little bit of honest coaching, you can make a very nice income within a year or two. To get started, do the networking. If you’re not good at that, get good at it. You’re not going to get the big listings out on Longboat Key. With some exceptions, they’re going to go to the people who have been there, or the brand-name companies. But there is a lot of business at the $300,000 level.

Q:What is your special approach?

A:I have focused on two communities in Palmer Ranch and built my business up there.

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July 16, 2011 –  By George Georgiopoulos

ATHENS – Allowing the EFSF bailout mechanism to buy back bonds from the secondary market would help deal with Europe’s debt crisis, European Central Bank Executive Board member Lorenzo Bini Smaghi told a Greek newspaper.

Euro zone policymakers are exploring ways to extend a rescue deal for overborrowed Greece and give it more time to repair its public finances. At the same time, authorities are trying to prevent the debt crisis from escalating in the bloc’s periphery.

One option being looked at is enabling the European Financial Stability Facility to provide funds for buying back bonds from private investors, a move that could help the country lighten its debt load.

“We have said that a useful option would be for the temporary EFSF mechanism to buy bonds in the secondary market. This option, however, is not included in the design of the EFSF. If

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AUSTRALIA’S major banks are on a heightened security footing amid fears of being targeted by the high-profile hacking group Anonymous.

ANZ’s top technology executive, Ann Weatherston, said yesterday that investment in technology security had been one of the highest priorities at the bank for the past few years, and spending on that area was now a core part of operations.

”Customers increasingly will judge their banks by the quality of their security,” she said.

Last month, the global group Anonymous and a second hacking network called LulzSec said they were planning to join forces in a campaign aimed at banks, government agencies and prominent targets around the world to encourage others to steal and leak classified information.

Ms Weatherston made the comments as ANZ outlined a five-year technology blueprint, including setting a target that would eventually give its customers a ”seamless” technology experience through all of the countries in which it operated.

The plan also involves an upgrade of ANZ’s internet banking, expanding its ATM network, and pushing further into mobile-banking.

ANZ also expects to start processing deposit and payment transactions in real time for business customers across its entire Asian network.

With some rival banks, including Commonwealth Bank, upgrading their core banking, ANZ’s deputy chief executive, Graham Hodges, said he did not see a need for a big overhaul at this point. Read full post…

Latham-based medical device maker AngioDynamics Corp. reported Thursday that sales declined to $56.4 million in the fourth quarter ending May 31 from $60.3 million a year earlier and that it had a net loss of $752,000, or 3 cents a share, compared to earnings of $3.7 million a year earlier. The company dismissed its CEO during the most recent quarter and is conducting a search for a replacement.

For the year, sales were unchanged at $216 million, while earnings declined to $8.2 million from $12.3 million a year earlier.

Analysts had expected revenues of $56.96 million for the final quarter and earnings per share of 10 cents.

AngioDynamics guidance for fiscal 2012 pegs revenues at $217 million to $225 million and earnings excluding the costs of finding a new CEO and of consolidating manufacturing at 41 to 49 cents per share.

Shares (Nasdaq: ANGO) fell 43 cents to close at $14.01 and were unchanged in after-hours trading.

BEIJING, July 16 (UPI) — McDonald’s Corp.

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TWO of Australia’s biggest insurers expect to introduce full flood cover by early next year, substantially boosting the number of households that will have automatic protection from a full range of natural disasters.

Coming after a backlash directed at the industry after summer’s devastating floods in Queensland, Insurance Australia Group and Suncorp aim to have full flood cover as an option in all their brands.

The move is partially aimed at heading off the prospect of the government stepping in and forcing insurers to offer flood cover to all customers, regardless of their risk of living in a high-risk zone.

At present, a little more than half the insurance policies bought in Australia provide automatic cover for flood, with some policyholders caught out by not being covered for flooding as a result of rising rivers or creeks.

As submissions were handed over to the Natural Disaster Insurance Review, private insurers called for greater efforts to prevent floods hitting residential areas.

The review was launched by the Gillard government in response to the flooding disasters that hit Queensland earlier this year.

IAG chief executive Mike Wilkins urged caution when it came to the government stepping in to provide a solution to flood insurance.

”We don’t think there’s been a systemic failure of the insurance market here,” Mr Wilkins told BusinessDay.

Suncorp’s head of personal insurance, Mark Milliner, said: ”There should be mitigation rather than subsidisation of the flood problem.”

Flooding regularly hits 7 per cent of residential addresses in Australia, causing about $450 million in annual damages, according to Insurance Council of Australia figures.

About $110 million has been spent on disaster mitigation by Canberra over the past four years, although insurers argue more should be done, given a small proportion was spent on protection from floods.

”A repeat of 2011 flooding, damaging the same homes, will be a failure of mitigation, not a failure of private market insurance,” the Insurance Council of Australia said.

The council rejected proposals for the introduction of a government-backed insurance pool to cover flood risk, arguing this would be an expensive and complex exercise.

The council said that some home owners in high flood-risk areas should be given some form of government-backed subsidies to help them pay for their insurance costs.

The review is scheduled to present its final report to the government by the end of September.