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Whether you are a Canadian resident or not, it is important to understand the basics of taxation in Canada. There are many factors that influence how much you will pay in taxes. Besides your income tax, you will also pay for taxes on your property, goods, and services, and Harmonized sales tax. This article will discuss the main components of taxation and how they are calculated. It will also help you calculate how much government spending on taxation affects an average Canadian family. Property taxes Using the information available, a study was conducted to compare the basic features of property…

Whether you are a recent graduate or an accounting professional looking to further your career, the accounting profession in Canada offers many opportunities. There are a number of different aspects of the profession, such as the CPA designation, the history of the profession, and the relationship between accountants and their clients. History Historically speaking, the history of accounting in Canada is relatively new. The first official meeting of North American accountants was held in Montreal in June 1879. There are three major associations in the country, with the Canadian Institute of Chartered Accountants (CIC) being the largest. In addition, the…

Whether you're getting started with your first accounting job, preparing for the CPA exam, or just want to get more familiar with what it means to be an accountant, you'll find that learning the basics of accounting in Canada is an invaluable asset. Regardless of your background, you'll be able to use your newfound knowledge to make a difference for the better, and help ensure that your business is as profitable as it can be. Fundamentals Taking the time to learn about the fundamentals of accounting is a worthwhile endeavor. It is no secret that a solid understanding of this…

Whether you are a small or large producer, you have a lot of things to consider when it comes to the Canada Farm Tax. For one thing, it is important to know how to calculate the farm tax, as well as the benefits of the tax. Capital Gains and Losses affect farm tax Whether you're buying or selling a farm, chances are you're going to get hit with a hefty tax bill. As such, the best way to reduce the sting is to take the time to educate yourself on the ins and outs of Canada's tax system. To help…

Whether you are just starting out or are thinking about pursuing a career in Canada oil and Gas Accounting, it is important to learn about the industry and what to expect. This article will provide an overview of the profession and career prospects. It will also cover revenue accounting, exploration, and development costs, and the APA(r) credential program. Overview Throughout the last three decades, Canada's crude oil sector has experienced major changes. In addition to high prices and increased production, geopolitical events and climate change have influenced the sector's performance. One of the most important factors to consider is the…