Gabriele Banka

Banka: Bookkeeping for corporation vs. sole proprietorship

A sole proprietorship's income tax is paid at the owner’s marginal tax rate; a corporation has its own tax rate and tax credits.

Banka: Tax credit changes coming

The first tax credit from the Liberal federal government to go is the Family Tax Cut.

Banka: Canada Child Benefit and other tax child matters

…it has been CRA’s policy to allow back payments for the last two years once you bring your tax filings up to date.

Banka: Director’s liability in small corporations

Whatever happens, you want to make sure your family members have a roof over their heads and can feed themselves if the company goes south.

Banka: Illuminating the latest sub sub-contractor scam

The time lag to pay these workers can be up to 60 days and in some cases the sub sub-contractors may not be paid at all…

Banka: Germans appeal decision on pension tax Cdns pay

Court action to dispute taxes on the German Social Security Pension is under appeal by German tax authorities.

Behind The Counter: Death and taxes

Having a will in place is essential to ensuring your financial affairs are in order upon your death.

Banka: Some carehome expenses are deductible

Canada Revenue has ruled that several items provided by a car home establishment would be deductible.

Banka: Family tax write-offs and the new federal budget

Formerly the Universal Child Care Benefit, as of July 2016 the Canada Child Benefit will still be taxable to you.

Banka: Understanding Canada’s income tax system

Our tax system is considered progressive because the higher your income level, the more tax you pay.

Banka: Lots of changes coming for 2016 tax year

Financial columnist Gabriele Banka looks at impact on tax code with election of new Liberal majority government.

Banka: Mixing personal and business credit

You may not be able to obtain business financing in the future if no credit rating has been established.

Banka: Getting ready to file 2015 taxes

In order to qualify for the home accessibility credit, you need to be 65 years or older and be eligible for the disability tax credit.

Banka: Fighting back against tax fraudsters and scammers

I have received reports that the people on the phone are very aggressive, even so far as threatening people with prison and bodily harm.

Behind the Counter: Child Care Deductions

Child care expenses an other child tax credits in a relationship breakdown are a minefield.

Banka: Are grandma and grandpa about to go bankrupt?

One-third of our population is over 55 so [about] one-third of the people who filed for bankruptcy in 2013, were over 55.

Banka: Importance of a financial plan

A financial plan put down in writing will help you achieve personal goals in life.

Banka: RRSP unused contributions

The "unused RRSP contribution" is the amount you have overcontributed to your RRSP.

Behind the Counter

RRSP Unused Contributions also known as Overcontributions

Banka: Think of the impact of PST when buying a business

When you are buying a business expect to pay PST on the assets that are considered taxable.