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Canadian Taxation of Cryptocurrency

Canadian Taxation of Cryptocurrency

By Fabio Campanella CPA, CA, CFP, CIM June 17, 2021 The last decade has seen a massive advancement in the acceptance and interest in the cryptocurrency sector. Bitcoin, the original and most popular cryptocurrency currently has an estimated circulation of 18.68...

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CMLLP – We started a podcast!

CMLLP – We started a podcast!

By John Paul McDonald & Fabio Campanella At Campanella McDonald LLP our team has been hard at work grinding out client tax returns and trying our best to accommodate a more virtual work experience than usual. JP and I, as always, are working in the background to...

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How To Access the Temporary Wage Subsidy For Employers

How To Access the Temporary Wage Subsidy For Employers

By: Fabio Campanella CPA, CA, CFP, CIM Hello all employers. Recently the Government of Canada announced a “Temporary Wage Subsidy for Employers.” This subsidy is designed to help businesses meet their payroll needs by providing a subsidy equal to 10% of the...

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My Portfolio is Down! Are There Any Tax Benefits?

My Portfolio is Down! Are There Any Tax Benefits?

By: Fabio Campanella CPA, CA, CFP, CIM The S&P/TSX Composite Index, Canada’s benchmark stock index, is currently down to the tune of 30% + from its highs this year. The pain in the stock market is not isolated to Canada, for the most part, every major stock index...

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COVID-19’s Massive Impact on Small Business

COVID-19’s Massive Impact on Small Business

By: Fabio Campanella CPA, CA, CFP, CIM It’s no secret, this pandemic is affecting more than our health. According to Goldman Sachs, small businesses in the US are feeling the impact of the measures taken to halt the spread of COVID-19. We can only assume that Canadian...

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COVID-19 Economic Response – What You Need To Know:

COVID-19 Economic Response – What You Need To Know:

Below is a more detailed summary of the points most relevant to our clients: INDIVIDUALS AND TRUSTS Tax Return due date deferred to June 1, 2020 However, if you expect a refund or other benefit (i.e. GST/HST, GIS, etc.) file ASAP! Tax payment deferral: Taxes that...

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Are Your Interest Payments Tax Deductible?

Are Your Interest Payments Tax Deductible?

By: Fabio Campanella CPA, CA, CFP, CIM Knowing when you can or can’t deduct interest for tax purposes can get tricky. Often, taxpayers (and their accountants) get it wrong. This can lead to hefty penalties and interest from tax reassessments, along with surprise tax...

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How are stock options taxed?

How are stock options taxed?

The federal government recently announced potential changes to how stock options will be taxed in 2020, but as long as you’re not raking in millions per year, you should be fine. Canadian Finance Minister, Bill Morneau said in June that they’re working towards a...

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Five Things Physicians Should Look for in an Accounting Firm

Five Things Physicians Should Look for in an Accounting Firm

Ontario doctors need to choose their accounting firm with care. Let’s face it - doctor’s have way better things to do than to pour over the Canadian Income tax act. Outsourcing this task literally frees up time to save lives. Physician taxes in Ontario are as complex...

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