canadianinsurancetax

Whether for business or personal taxes, our experts at G&P Accounting Services understand the need for a reliable and professional  tax accountant in Brampton . As chartered accountants, we stay on top of CRA regulations and share our expertise and knowledge with our clients. By hiring us, you can benefit from our services in many ways, especially during tax season. We’ll help you navigate HST, corporate and personal taxes, and other relevant areas that might confuse you.   If you’re still unsure about hiring a tax accountant, here are more reasons to consider it:     Master taxation   Harmonized Sales Tax (HST) is a value-added tax in Canada that applies to all businesses and taxpayers. Buyers pay input tax whenever they buy something, while sellers collect output tax from anyone who buys from them. All provinces, except Ontario, follow the 15% HST rate. The rate is 13% in Ontario.   Like other tax-related matters, HST can be overwhel...

Brampton's upcoming tax changes in 2024 include a significant 4.7% increase in personal tax credit amounts and federal tax brackets, equating to a 1.047 indexation factor. If you're concerned about how these changes might affect you, consult with a personal tax accountant in Brampton for personalized advice and strategies.     What are the key changes?     The 2024 tax measures encompass GST/HST exemptions, new alternative tax rates, and CPP contribution changes. While tax experts anticipate minimal impact for most individuals, high-income earners may see more significant effects. A personal tax accountant in Brampton can clarify these updates and their implications for you.     GST exemptions   The federal government plans to remove GST/HST on services provided by counselling therapists and psychotherapists, facilitating easier access to necessary care for Canadians. This exemption is estimated to result in a $65 million revenu...