Latest news with #HST
Cision Canada
10 hours ago
- Business
- Cision Canada
Tax Tip - New to Canada? Apply for benefit and credit payments using our new online form Français
OTTAWA, ON, June 3, 2025 /CNW/ - The Canada Revenue Agency (CRA) is making it easier for newcomers arriving in Canada to apply for benefit and credit payments. Newcomers can now apply online, without mailing in the forms. It's a quick and convenient way to apply. Choosing the right form for you Apply for benefit and credit payments, including any related provincial and territorial program payments, even before you do your taxes for the first time. Not sure what you're eligible for? Check out newcomers to Canada and the CRA for the details. Choose which application form to fill out, based on your personal situation: If you do not have children: *NEW* RC151 GST/HST Credit and Canada Carbon Rebate Application for Individuals Who Become Residents of Canada digital form If you have children, apply for yourself and any children in your care: RC151 GST/HST Credit and Canada Carbon Rebate Application for Individuals Who Become Residents of Canada If you have children and you meet the CCB eligibility requirements: RC66, Canada Child Benefit Application includes federal, provincial, and territorial programs and include RC66SCH Status in Canada and Income Information for the Canada Child Benefits Application. The information you provide on this application will also be used to determine your eligibility for the GST/HST credit, the Canada Carbon Rebate, and any related provincial and territorial programs. Get the payments you're entitled to Benefit and credit payments like the GST/HST credit are regular payments from the Government of Canada that can help with the costs of living in Canada. These payments are calculated based on the yearly income and family situation. To keep getting the payments you're entitled to, you and your spouse or common-law partner, need to file your tax return on time every year, even if you have no income. Find out more: How to file your tax return. Contacts Media Relations Canada Revenue Agency 613-948-8366 [email protected] Stay connected Follow the CRA on Facebook Follow the CRA on X – @ CanRevAgency Follow the CRA on LinkedIn Follow the CRA on Instagram Subscribe to a CRA electronic mailing list Add our RSS feeds to your feed reader Watch our tax-related videos on YouTube Listen to our Taxology podcast SOURCE Canada Revenue Agency
Time Business News
15 hours ago
- Business
- Time Business News
Why Small Businesses Are Switching to the Best Accounting Firm in Toronto
Small businesses face unique challenges. From navigating shifting tax regulations to managing cash flow with razor-thin margins, entrepreneurs often find themselves wearing too many hats. One area where outsourcing has become not just helpful but essential is accounting. Increasingly, small business owners in the GTA are turning to expert firms to gain a competitive edge, and it's no surprise that many are seeking out the best accounting firm in Toronto to do so. What's driving this shift? It's not just about tax returns anymore. Today's accountants are strategic partners in growth, efficiency, and peace of mind. The Pressure to Do More With Less Running a small business in Toronto means contending with rising operational costs, labour shortages, and increasing customer expectations. Financial efficiency has never been more crucial. An experienced accounting firm can help owners avoid costly errors and unnecessary overheads while identifying opportunities for savings that might go unnoticed. Instead of simply balancing the books, professional accountants now act as advisors—interpreting numbers and helping businesses make smarter decisions in real time. Cloud Accounting Is Levelling the Playing Field Modern accounting firms have embraced cloud-based platforms, giving small businesses access to tools that were once reserved for large corporations. Cloud accounting enables real-time collaboration, automated bank feeds, seamless invoicing, and up-to-date financial snapshots—without the need for in-house software or hardware. By working with firms that prioritize tech-forward solutions, small businesses gain speed, mobility, and control over their finances—all without sacrificing accuracy or compliance. Proactive Tax Planning: A Game Changer Gone are the days when accountants simply processed year-end taxes. Today, small businesses are looking for firms that plan ahead—ensuring deductions are maximized, GST/HST is optimally structured, and every available credit is considered. Accountants now provide quarterly check-ins, help with CRA audit preparedness, and assist in navigating complex areas like R&D credits, business incorporation strategies, and cross-border taxation. For many business owners, this level of foresight and support is what ultimately motivates the switch. Scaling Support That Grows With the Business One of the biggest concerns for small business owners is scalability. What happens when the business starts growing rapidly? Will their accounting partner still be a fit? Top firms today offer tiered services that evolve with the business. Whether a company is a solopreneur launching an e-commerce store or a mid-sized operation expanding to new provinces, the right accounting team can scale their support—from basic bookkeeping to full CFO-level guidance. A Strategic Eye on Cash Flow Cash flow remains one of the top reasons small businesses struggle. Unlike income, which can be seasonal or delayed, expenses remain consistent. Smart accountants help business owners forecast cash flow, identify risk periods, and build financial buffers to keep the business steady. Firms that actively monitor receivables, set up automation for invoicing and payment reminders, and advise on timing for major purchases become invaluable to business continuity. Compliance Without the Headaches Canada's regulatory environment can be overwhelming. From payroll deductions to WSIB filings and ever-changing federal and provincial tax codes, staying compliant isn't optional—it's foundational. Switching to a firm that takes ownership of deadlines, filings, and documentation gives small businesses peace of mind and frees up time for focusing on growth and innovation. What's more, proactive accountants flag potential risks and guide clients through evolving policies, avoiding penalties and audits. Tailored Insights, Not One-Size-Fits-All Templates No two businesses are alike. Whether you run a food truck in Kensington Market or a digital marketing agency in Liberty Village, your financial needs and goals are different. That's why many small businesses are leaving behind cookie-cutter solutions in favour of firms that offer tailored support. Top-tier firms take the time to understand their clients' business models, industry challenges, and growth plans—offering advice that aligns with long-term objectives, not just short-term fixes. A True Partner in Growth For many entrepreneurs, an accountant is no longer just a number cruncher. They're a sounding board, a strategist, and a core part of the leadership team. Small businesses are realizing that the right accounting partner doesn't just help them survive tax season—they help them grow year-round. Whether it's evaluating financing options, preparing for investment, or expanding into new markets, a trusted accounting firm provides clarity and direction when it matters most. Looking Ahead with Confidence Switching accounting firms is never a light decision, but for small businesses, it's increasingly becoming the smart one. The shift isn't just about getting help with compliance—it's about gaining a strategic partner who can support long-term success. By turning to the best accounting firm in Toronto, many small business owners are finally finding the support, insight, and peace of mind they need to move forward with confidence in a competitive landscape. TIME BUSINESS NEWS
Daily Record
3 days ago
- Daily Record
Tourist warned of 'strict' law in popular summer holiday spot
Holidaymakers heading to this country could face fines for flouting this rule Holidaymakers travelling to Canada this summer are being warned of a mistake that could land them in trouble. The north American country has been named one of the biggest travel destinations for 2025, with more UK tourists than ever expected to holiday there this summer. Canada's long coastlines, vibrant cultures, incredible wildlife and of course their world-famous maple syrup are just a few reasons tourists are choosing to explore the it. To help travellers prepare for their Canadian adventure, travel experts at North American tour operator, Journeyscape have compiled a list of the biggest culture shocks tourists may encounter when visiting. From street drinking, to restaurant service etiquette, holidaymakers should be aware of the very different Canadian rules. Pubs and alcohol laws One of the biggest culture shocks between the UK and Canada is the difference in drinking culture. Beer, wine, and spirits are sold through provincially-owned and private liquor stores. In Ontario, for example, alcohol is primarily available at government-regulated LCBO (Liquor Control Board of Ontario) stores. While you may find some supermarkets sell beer, it's uncommon, and other alcoholic beverages must be purchased from the LCBO. Canada also has a strict policy when it comes to drinking in public. Unlike some parts of the UK, where enjoying a drink outdoors is common, in Canada, being caught with an open bottle on the street could result in a $100 (£54) fine. Sales tax is added at checkout Another big culture shock for British travellers visiting Canada is that the price you see on the shelf isn't the price you'll actually pay. Whether you're shopping for groceries, clothes, or household items, all displayed prices are pre-tax, unlike in the UK where VAT is already added on to the price shown. Sales tax, or HST, consists of two components: an 8% provincial tax and a 5% federal tax, meaning you'll likely need to add 13% to the price you see. This can be tricky to manage, so it's important to know this before your trip to avoid any surprises at checkout. Join the Daily Record WhatsApp community! Get the latest news sent straight to your messages by joining our WhatsApp community today. You'll receive daily updates on breaking news as well as the top headlines across Scotland. No one will be able to see who is signed up and no one can send messages except the Daily Record team. All you have to do is click here if you're on mobile, select 'Join Community' and you're in! If you're on a desktop, simply scan the QR code above with your phone and click 'Join Community'. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. To leave our community click on the name at the top of your screen and choose 'exit group'. If you're curious, you can read our Privacy Notice. Tipping culture Tipping in the UK is not a common practice, although it's appreciated in restaurants when good service is provided, and some restaurants may include a service charge on the bill. In Canada, however, tipping is more than just a custom, it's a well-established social norm. Even though it's technically not mandatory, it's highly expected across many services, and failing to leave a tip can be perceived as rudeness. The general rule of thumb is to tip between 15-20%, though some restaurants may prompt you to tip as high as 30%. It's important to factor in tips when visiting restaurants, bars, and cafes to avoid any awkward encounters.
Yahoo
6 days ago
- Business
- Yahoo
GTA new home sales remained extremely low in April – Federal GST measures inadequate
Toronto, May 28, 2025 (GLOBE NEWSWIRE) -- Greater Toronto Area, May 28, 2025 – Greater Toronto Area (GTA) new home sales remained extremely low in April, showing little change from earlier months and marking a seventh consecutive month of record all-time lows, eclipsing the 1990 downturn, the Building Industry and Land Development Association (BILD) announced today. There were 310 new home sales in April which was down 72 per cent from April 2024 and 89 per cent below the 10-year average, according to Altus Group*, BILD's official source for new home market intelligence. Historically, new home sales for a typical April in the GTA would be 2,750 units based on the previous 10-year average. 'April 2025 new home sales across the GTA have extended the slowest period of sales on record,' said Edward Jegg, Research Manager at Altus Group. 'Buyers crave predictability and the swirling uncertainty around the impact of possible tariffs is depriving would-be purchasers of the confidence they need to move ahead.' Condominium apartments, including units in low, medium and high-rise buildings, accounted for 105 units sold in the GTA in April, down 80 per cent from April 2024 and 94 per cent below the 10-year average. There were 205 single-family home sales in the GTA in April, down 66 per cent from April 2024 and 77 per cent below the 10-year average. Single-family homes include detached, linked and semi-detached houses and townhouses (excluding stacked townhouses). New for 2025, BILD and Altus Group are now reporting on sales in Simcoe County. In April, there were 27 single-family new home sales in Simcoe County with the weighted average price at $1,120,438. Total new home remaining inventory in the GTA decreased slightly compared to the previous month, to 21,363 units. This includes 16,555 condominium apartment units and 4,808 single-family dwellings. This represents a combined inventory level of 15 months, based on average sales for the last 12 months. 'Yesterday the Federal Government tabled its proposed measures to provide GST(HST) relief to first-time new home buyers. Unfortunately, this limitation to first-time buyers only will have a very small impact, as very few new home buyers are first time buyers. It will not substantially help address affordability, nor will it help significantly stimulate sales and construction,' said Justin Sherwood, Senior Vice President of Communications, Research, and Stakeholder Relations at BILD. 'The government has reaped billions in additional tax revenue on new homes by not indexing GST price rebate thresholds since 1991 and instead has created a new mechanism that will apply to very few purchasers. In order to have maximum impact and address the effects of GST/HST on eroding home affordability, the Federal government must broaden the scope of the GST (HST) measures to all new home purchases.' Benchmark prices decreased in April for both single-family homes and condominium apartments in the GTA compared to the previous year. The benchmark price for new condominium apartments was $1,019,120, which was down 3.6 per cent over the last 12 months. The benchmark price for new single-family homes was $1,530,126, which was down 5.4 per cent over the last 12 months. With more than 1,000 member companies, BILD is the voice of the home building, residential and non-residential land development and professional renovation industries in the Greater Toronto Area. The building and renovation industry provides 256,000 jobs in the region and $39.3 billion in investment value. BILD is affiliated with the Ontario and Canadian Home Builders' Associations. -30-For additional information or to schedule an interview, contact Janis McCulloch at jmcculloch@ (416-617-7994) *Altus Group should be credited as BILD's official source of new home market intelligence. Attachment Altus Data Solutions media backgrounder April 2025 BILD New Homes Sales CONTACT: Janis McCulloch Building Industry and Land Development Association (BILD) 416-617-7994 jmcculloch@
Skift
7 days ago
- Business
- Skift
Pebblebrook Sues San Francisco Over Hotel Valuations
Pebblebrook has challenged the market value assessments that the city assigned to and used to collect taxes from a group of downtown hotels purchased by the REIT in 2018. The DJIA surged 741 points, the Nasdaq was up 462 (2.5%) and the S&P 500 was up 2% at 119 points. The 10-year treasury yield was down .08 to 4.43% and lodging stocks were higher. The big winner today was BHR with a 22% rise followed by INNup 8%, SVR up 6%, and then PEB and HST both up 5%. Baird reported on investor meetings they hosted with Host Hotels & Resorts' management team. Baird was impressed as they designated HST as a Bullish Fresh Pick. HST said that top-line performance in May has been tracking better than expected and the company is not seeing any incremental demand deterioration or pricing sensitivity. We really don't need to go much further than that. HST continues to view share repurchases as an attractive use of capital, especially at current levels. Hyatt Hotels Corporation announced they extended the offering period, again, for its cash tender offer to purchase all the outstanding ordinary shares of Playa Hotels & Resorts NV for $13.50 a share in cash. The tender offer is now expected to close on June 9th at 5 p.m. Eastern Time. The Element by Westin Calgary Downtown plans to open early this summer with 226 suites, a café, and a rooftop restaurant. Grayson Capitol announced the construction of a 132-room Tribute Portfolio Hotel, in Kansas City, Missouri, adjacent to the new Negro Leagues Baseball Museum. The new hotel will include an upscale restaurant and a rooftop bar. The town of Wasaga Beach, Ontario, announced Sunray Group will now move forward with plans to build an approximately 120-room Marriott hotel on town-owned land. The Marriott hotel will include a year-round restaurant; convention facilities; a fitness, spa or pool area; commercial shops, and wedding facilities. The hotel is phase one of what will be a four-phase project near the town's iconic beachfront. Sunray Group will invest over $45 million to build the hotel and will pay full development charges for all four phases of the project. The company will also invest $1.5 million to design and build 'Festival Square' next to the hotel, near the beachfront which will be used by the municipality for outdoor entertainment and special events. The town and Sunray have also entered into a joint profit-sharing agreement for three additional phases of development, which are expected to include additional amenities and homes near Beach Area 1. A-1 Hospitality Group broke ground on a new 163-room AC Hotel by Marriott in Kennewick, Washington. Located at the Three Rivers Convention Center, the hotel will operate as a franchise owned by A-1 Three Rivers Hotels, LLC and managed by A-1 Hospitality Group. The new five-story property will include an indoor pool, fitness center, rooftop restaurant and bar, and six meeting rooms with a combined 12,000 square feet of functioning meeting space. Vision Hospitality Group, Inc. broke ground on a new dual-branded Home2 Suites by Hilton and Tru by Hilton Lookout Valley in Chattanooga, Tennessee. Construction is now underway, with an expected opening in the fall of 2026. The hotel will be a key component of the newly planned 10-acre, mixed-use master development, also being developed by Vision. In addition to the hotel, the development will feature nationally recognized restaurants and retail concepts. The hotel property will feature 150 guest rooms (82 Home2 Suites/68 Tru by Hilton); an expensive, resort-style outdoor aquatic recreation area with a pool, in-water sun shelf, water features, a slide, a poolside bar with lounge seating, grilling stations, and fire pits. On the inside, the hotel features a lobby bar with a gaming area, fitness center, and laundry facilities. Magna Hospitality Group sold the Hilton Garden Inn, in Evanston, Illinois, to a venture led by Parag Patel for $18 million, after buying for $23 million in 2016. The purchase is the latest in a string of acquisitions in the Chicago area led by Patel. Swire Properties' planned Residences at the Mandarin Oriental Miami hit a sales milestone with the South Tower reaching $1 billion in condo deals, making the 66-story structure 50% sold. The two-tower project is expected to rise on the site of the existing 326-room Mandarin Oriental hotel that will be demolished next year. The hotel is closing its doors at the end of the month to make room for the new project that will include Mandarin Oriental's North American flagship hotel in the proposed North Tower. The South Tower comprises 228 residential units. Plans for the North Tower include 121 hotel rooms, 28 hotel residences and an additional 66 private residences, with sales expected to launch later this year. Completion of the project is expected in 2030. The Bright Group announced the opening of Dayton Vitality Hotel located in Dayton, Ohio, and directly connected to the Dayton Convention Center via skywalk. The Dayton Vitality Hotel features self-check-in, a pool, fitness center, communal spaces, a rooftop bar, and expansive meeting and event spaces. The Bright Group plans five additional Vitality openings through 2026 including Marietta, Georgia - targeting a late-August 2025 debut. Orlando, Florida; Tulsa, Oklahoma; and Reading, Pennsylvania - scheduled for phased openings through 2025 and 2026. The Compass Hotel by Margaritaville Flagler Beach opened on May 21. Located in Flagler Beach, Florida, the hotel has 100 rooms and suites, a restaurant and a rooftop bar. A long-vacant Sears in Titusville, Florida, is set for a major transformation. The Brevard County Commission and the city of Titusville approved plans to redevelop the 22-acre site into a new project called 'Titusville Resort and Destination.' The proposed development includes apartments, a hotel, an assisted living facility, restaurants, and other amenities. Demolition is expected to begin soon, followed by construction. Last week, the city of San Francisco was hit with a lawsuit by Pebblebrook, which has challenged the market value assessments that the city assigned to and used to collect taxes from a group of downtown hotels purchased by the REIT in 2018, according to the San Francisco Chronicle. While the dispute is rather technical, Pebblebrook's allegations are straightforward: it has accused the city of using 'erroneous, invalid, and illegal assessment methodologies' in determining the fair market values of four hotels in the Union Square and SoMa neighborhoods that Pebblebrook acquired through a portfolio merger with its one-time competitor, LaSalle Hotel Properties. Pebblebrook is now seeking a refund of 'any and all' taxes it paid based on the city's original assessments of the properties. Personnel News Mr. J. Robison Hays, III, tendered his resignation from the Board of Directors ofAshford Hospitality Trust, Inc., to be effective as of that date, according to an 8K filed by the company. On May 23, 2025, the Board appointed Mr. Stephen Zsigray, the Chief Executive Officer and president of the company, as a member of the Board, effective immediately, to serve until the next annual meeting of stockholders of the company and until his successor is duly elected and qualified. Mr. Zsigray will not serve on a Board Committee. The Elser Hotel, a luxury 49-story tower in the heart of Downtown Miami, announced the appointment of Sean Flanigan as acting manager director and Vice President of Operations at Highgate, the property's management company and a leading global hospitality management company. Flanigan will oversee all facets of The Elser Hotel's operations, including performance management, sales, revenue strategy, marketing, and guest services. Flanigan most recently served as Regional Vice President for AKA Hotels & Residences in Florida. Whitbread appointed Christine Hodgson as chair, taking effect on September 1. Hodgson will replace Adam Crozier, who will step down and retire from the Board on the same date. Hodgson is also chair of Severn Trent and has worked for Capgemini. Edgar Suites has appointed Casilda Mulliez as Director of Real Estate Development for Spain and Portugal. Mulliez's responsibilities will include identifying new real estate opportunities, particularly on the Iberian Peninsula, to support Edgar Suites' growing portfolio of high-end aparthotels. Mulliez's experience spans roles at Deloitte, Aquila Asset Management, Batipart, and Urban Campus. Global Highlights Kerzner International Holdings Limited and Sunset Hospitality Group entered a strategic joint venture to drive the global expansion of the Tapasake concept. SHG and Kerzner will join forces to expand the Tapasake brand as a stand-alone lifestyle concept outside the One&Only portfolio for the first time. Building on its existing presence in Dubai, the Maldives, Montenegro, and Mauritius, this joint venture will scale the brand across additional key international destinations, with further global markets currently in development. As part of the evolved vision, Tapasake's location in Dubai, perched atop The Link, will temporarily close in June 2025 for a complete transformation. Tapasake Dubai will reopen in the fourth quarter of 2025 with refreshed interiors, a new culinary direction, updated brand identity, and an immersive guest journey.
