Canadian Bookkeeping and Tax RatesFor The Work From Home Business OwnerThis is "The Rates" page. It has compliance tax rates that would be of interest to Canadian small business owners and bookkeepers who work from home.You may also be interested in Payroll Tax Rates like 2012 CPP and EI rates ... or "The Deadlines" page which discusses tax compliance filing deadlines by tax type. You can scroll down to find the rate information you are looking for or click on one of the QUICK LINKS to go right to the spot. Use this search feature to quickly find the information you're looking for.  Custom Search Quick Links to Tax Rates On This SiteInterest Rates
Canadian Sales Tax
Payroll TaxesCanadian Travel / Vehicle Mileage Rates For 2012
Income Tax
Notice to Site Visitor I developed this tax rates page as a handy reference for myself. While I do my best to ensure it is accurate and complete, I make it available for your use with the understanding that I cannot be held liable for errors and/or omissions. Tax information is subject to frequent change so professional advice should be sought prior to acting on any of this information. Please make yourself familiar with my site policies prior to relying on any of the information on this site.  Canadian (CRA) Prescribed Interest Rates Released Quarterly
Taxable Benefits refers to interest-free and low-interest loans for shareholders and employees. Overdue and ovepaid taxes includes income taxes, CPP contributions, EI premiums, GST/HST, Excise tax / duties ... basically any kind of federal tax. While looking for something else, I came across a KN&V CAs (www.knv.com) rate sheet ... and learned something new. Did you know that the overpaid taxes rate (amounts owing from the federal government) is always 2% point more than the taxable benefits rate? ... and that overdue taxes rates (basically the rate for all other purposes) is 4% points more than the taxable benefits rate? I just never noticed before ... scary how unobservant I am at times!
Canadian GST/HST Rates |
| Period | GST | HST | BC HST | NS HST |
|---|---|---|---|---|
| Jul 1 2010 on (transitional rules begin May 1 2010) | 5% | 13% | 12% | 15% |
| Simplified rates* | 4.762%% | 11.504% | 10.714% | 13.043% |
| Jan 1 2008 to June 30 2010 | 5% | 13% | -- | 13% |
| Simplified rates* | 4.762% | 11.504% | -- | 11.504% |
| Jul 1 2006 to Dec 31 2007 | 6% | 14% | -- | 14% |
| Simplified rates* | 5.660% | 12.281% | -- | 12.281% |
| Apr 1 1997 to Jun 30 2006 | 7% | 15% | -- | 15% |
| Simplified rates* | 6.542% | 13.043% | -- | 13.043% |
| Jan 1 1991 to Mar 31 1997 | 7% | -- | -- | -- |
| Simplified rates* | 6.542% | -- | -- | -- |
To calculate the provincial part of the HST, subtract the federal part % where the federal part = the GST rate for that period. For example, as of July 1, 2010 the BC HST is 12% - 5% federal part = 7% provincial part.
You can find a CRA rate table by province on their website at Businesses > GST/HST > GST/HST rates.
*The simplified GST/HST rate for purchases is calculated as follows:
- (the current GST/HST rate / (100 + the current GST/HST rate)).
- For GST @ 5%, the simplified tax rate would be 5/105 times total purchase amount including GST = GST paid (ITC).
For example - 5/105 times $2456.89 including GST = $116.99 GST paid - For HST @ 13%, the simplified tax rate would be 13/113 times total purchase amount including HST = HST paid (ITC).
For example - 13/113 times $2456.89 including HST = $282.65 GST paid
It is my understanding that if you use the simplified method, you should have been self assessing HST between October 14, 2009 and April 30, 2010 ... holding and remitting after the June 30, 2010 reporting period.
When does it become mandatory to register for GST/HST?
If you own a business in Canada, you must register for GST and collect it if your annual sales is greater than $30,000.
Registration under $30,000 in sales is optional. If you are starting up your business and your sales will be less than $30,000, you should still register. It allows you to recover your input tax credits (ITCs) on start-up costs and normal purchases.
GST/HST/PST -
Out of Province Sales Tax RatesThe question often arises, especially with online internet sales; what are the rules pertaining to GST / HST tax rates on out of province sales? Here's my understanding.
Place of supply rules come into play ... and there are four categories ... each with separate rules and specific differences for certain groups - (1) goods, (2) real property (3) services, (4) intangible personal property.
In general, if you reside in an HST province (called participating province), and make a sale to a GST province (called a non-participating province), you would reduce the tax charged from the HST to the GST rate.
However, if the out-of-province customer picked up the goods in your province, then you must charge the full HST rate. Either way it is tax neutral to you as you get to claim all relevant ITCs associated with the sale.
And generally, it's the opposite if you are a non-participating province (GST) and sell to a participating province (HST). You must charge the HST rate to out-of-province sales unless the customer physically picks up the goods in your province.
New place of supply rules for intangible personal property and services became effective May 1, 2010. Old rules relied on the supplier's location. New rules place greater reliance on where the consumer is located. This means you will now need your customer / client's address.
May 1, 2010 was an important HST transitional date. October 14, 2009 was also an important date for those who had to self-assess. Are you tax compliant?
You can find more information in CRA's Technical Information Bulletins B-103 Place of Supply Rules under the HST which includes proposed HST place of supply rules for intangible personal property and services effective July 1, 2010, B-079 Self-Assessment of the HST on Supplies Brought Into a Participating Province, and B-080R Rebates of HST on Supplies Made From the Participating Provinces.
GST/HST pertaining to virtual or electronic commerce (online internet sales, web hosting and web design) is discussed here, including non-resident tax rates.
Summary of Canadian Sales Tax Rates by Province
You used to be able to find the following list at the Canada Business website. The rates were located in the Canada-Saskatchewan GST/HST service section ... about mid-way down the page. The site has since been revised and I can no longer locate the table.
I have updated the table for the GST and HST rates by province at January 1, 2012. These rates were also in effect as of July 1, 2010 when BC and Ontario switched to HST.
What I really like about the table is that it includes the effective combined rates for PEI and Quebec as they charge PST on GST.
| Province | GST/HST Rate (%) | PST Rate (%) | Combined Rate(%) |
|---|---|---|---|
| Alberta | 5 | not applicable | 5 |
| British Columbia | 12 | not applicable | 12 |
| Manitoba | 5 | 7 | 12 |
| New Brunswick | 13 | not applicable | 13 |
| Newfoundland & Labrabdor | 13 | not applicable | 13 |
| Northwest Territories | 5 | not applicable | 5 |
| Nova Scotia | 15 | not applicable | 15 |
| Nunavut Territory | 5 | not applicable | 5 |
| Ontario | 13 | not applicable | 13 |
| Prince Edward island | 5 | 10* | 15.5* |
| Quebec | 5 | 9.5* Jan 2012 8.5* Jan 2011 7.5* July 2010 | 14.975* Jan 2012 13.925* Jan 2011 12.875* July 2010 |
| Saskatchewan | 5 | 5 | 10 |
| Yukon Territory | 5 | not applicable | 5 |
* In Quebec and Prince Edward Island only, the GST is included in the provincial sales base. You are also charged PST on GST, therefore the higher than expected combined rate.
Here is a copy of the original table as it was presented on the Canada Business website in 2009 ... to give you an idea of where things stood before BC and Ontario implemented HST.
Quick Method GST/HST Rates
With the introduction of different HST rates in BC and Nova Scotia on July 1, 2010, this simplified method of accounting may require a bit more paperwork than before ... depending on your customer base.
You now need to track your sales by the four groups ... non-participating provinces, participating provinces by rate - BC, Nova Scotia, all the other participating provinces ... and by non-eligible sales and personal use "sales".
As this topic is a bit more complex now, the GST HST Quick Method rates are now are their own page.
Let's Chat About ...
and What You Should Know About CCA
CCA (capital cost allowance) is the expensing of your capital expenditures over time for tax purposes. The accounting treatment (known as amortization or depreciation) is slightly different
The allowable CCA tax rates are found in the Income Tax Act Regulations 1100 Schedule II . It has classified different types of assets into classes. Each class of asset has a different CCA tax rate.
Take care when you classify your assets. CRA does watch for this because if you pick the wrong classification and depreciate your assets too quickly, you would be deferring taxes.
Judy asked a few questions on reconciling CCA between your tax return and your books, so I talked about CCA and Deferred Taxes.
Too Shy to Say asked, " What is the adjusting entry that reconciles the difference between CCA and depreciation?"
It's a good question!
Join the discussion in the community bookkeeping forum by posting your comments ... or asking a bookkeeping question on something you don't understand.
As a small business owner, the most common CCA classes, along with their tax rates, that you would probably be interested in are:
- CCA Class 8 office furniture, office equipment, small tools over $500 and equipment not listed in another class at 20%
- CCA class 10 and 10.1 vehicles at 30%
- CCA Class 10 computer hardware and systems software acquired before March 23, 2004 at 30% - see also class 45
- CCA class 12 computer software other than your operating system and small tools under $500 at 100%
- prior to May 1, 2006 the threshold amount was $200
- do not include systems software here
- CCA class 45 computer equipment and systems software acquired after March 22, 2004 at 45% - see also class 50
- CCA class 46 network equipment and associated systems software (that would have been included in class 8) acquired after March 22, 2004 at 30%
- CCA Class 50 computer equipment and systems software acquired after March 18, 2007, that is not used principally as electronic process control, communications control, or monitor equipment, and the systems software related to such equipment, and data handling equipment that is not ancillary to general purpose computer equipment at 55%
- CCA class 52 computers acquired between January 28, 2009 and January 31, 2011 at 100%
See bookkeeping for a small restaurant in the bookkeeping forum for a great discussion on aggregate purchases of small items and how to classify them.
Also note that you will need to refer to the CCH publication Preparing Your Income Tax Returns to find out which class 12 items are exempt from the half year rule making the item 100% deductible in the year of purchase.
You can find more business CCA classes along with their tax rates in the CRA publication T4002 Business and Professional Income. Look in chapter 4 under CCA classes.
Take note that the CRA guide shows software is classified as operating software (class 12) and systems software. As each type has a different CCA class, I think it's advantageous to track the two types separately in your books.
To get a more thorough understanding of the complicated subject of CCA and how to apply the tax rates, visit CRA's website page at
Businesses>Sole proprietorships and partnerships>Reporting>Capital Cost Allowance (CCA)> Calculating CCA.
These are the "Things You Should Know About CCA". You have to hunt around to find the items but please do take the time.
- the 50% rule (half year rule) - only 50% of CCA can be claimed in the year of acquisition
- available for use rule (it's important to understand this rule)
- land and living things - you cannot claim CCA on most land or on living things such as trees, shrubs, or animals.
- possible recapture of CCA - upon disposal of asset
- possible terminal loss - upon disposal of asset
- depletion allowance - wood lots, gravel pit, etc.
- T5013 and T5013A slips and your CCA claim - you cannot personally claim CCA from a partnership
- First fiscal period is less than a year (short year) - you must prorate
Here is another one of the things you should know about CCA. That is ...
You don't have to make a full CCA claim on your tax return every year. If you are losing money, then it is better NOT to claim CCA in a particular year. Save the tax deduction for a future year.
You can also take a partial deduction to bring your net business income to zero.
A general rule when deferring your CCA claim, defer your quickest depreciating assets first.
When you purchase a capital asset before year-end as part of your tax planning strategies, you need to be aware of the available for use rule. Find more on the subject on CRAs website under CCA> How to claim. |
Canadian Travel and Vehicle Mileage Rates
Simplified Meal and Vehicle Travel Mileage Rates - Cents per Kilometre
With the simplified method, you do not need to keep receipts.
The simplified method can be used for trips relating to:
- your selected 12 month period of medical expenses (see note below);
- moving expenses; or
- northern residents deductions.
NOTE: if you live more than 40 kilometers away from medical facilities, keep a travel log ... as you can claim dentist, optometrist, and doctor trips under medical expenses on your personal tax return.
The simplified meal rate is a flat rate - $17 per meal or $51 per day.
Small businesses are not allowed to use the simplified method for their vehicle expenses at this time ... but I keep hoping soon. It would reduce paperwork!
As a small business owner, you report your vehicle expenses on Form T2125 using the detailed method. This means you do have to keep all your receipts ... along with your log book.
To claim the simplified travel mileage, you must track the mileage of your trips and prorate it.
Mileage rates for the 2012 tax year are not released until early 2013. Here are the 2011 mileage rates that were released early in 2012.
| 2010 | Province / Territory | 2011 |
|---|---|---|
| 52.0 | British Columbia | 52.0 |
| 60.5 | Yukon | 63.5 |
| 51.5 | Alberta | 53.0 |
| 46.0 | Saskatchewan | 47.5 |
| 58.0 | Northwest Territories | 61.5 |
| 47.5 | Manitoba | 49.0 |
| 55.0 | Ontario | 57.0 |
| 56.5 | Quebec | 59.0 |
| 58.0 | Nunavut | 61.5 |
| 53.0 | Newfoundland & Labrador | 55.0 |
| 49.5 | New Brunswick | 52.0 |
| 51.0 | Nova Scotia | 53.0 |
| 50.0 | Prince Edward Island | 52.0 |
2011 Employee Auto Allowance Tax Rates - Cents per Kilometre
If your employees use their personal vehicle for business purposes, these are the published tax rate deduction limits for the tax-exempt portion of allowances that CRA considers reasonable. Any amount paid over these rates is considered a taxable benefit that must be reported on the employee's T4 slip.
Reimbursement of toll or ferry charges or supplementary business insurance is acceptable provided you did not calculate your allowance to include these reimbursements.
The allowance should only be paid on the business kilometers and the employee should NOT be reimbursed for expenses related to operating the vehicle as this allowance is meant to cover those costs.
It is recommended you have employees keep an auto log as proof of the number of kilometres driven for business use.
As a Canadian sole proprietor, you are NOT eligible for a per kilometre allowance. You must use the detailed method. This allowance is for employees only.
The rules are different for a U.S. sole proprietor.
If you are incorporated and work in your business, you are an employee and eligible to use these rates ... but you also have another option.
These tax rates are reviewed annually and announced each year-end ... and include GST and HST excluding any point of sale rebates.
For example, that means if you are in a GST province, divide the rate by 1.05 to get the mileage rate excluding GST. The GST on mileage would be mileage allowance times 5 divided by 105.
If you live in an HST province, divide the rate by 1.13 where 13 equals the HST rate to get the mileage rate excluding HST. The HST on mileage would be mileage allowance times 13 divided by 113 where 13 equals the HST rate.
In B.C. where the provincial portion is rebated at the point of sale, you can only claim 5% not 12%.
| Year | Province | Territory |
|---|---|---|
| 2012 | First 5,000 km - 53.0 Then 47.0 | First 5,000 km - 57.0 Then 51.0 |
| 2011 | First 5,000 km - 52.0 Then 46.0 | First 5,000 km - 56.0 Then 50.0 |
| 2010 | First 5,000 km - 52.0 Then 46.0 | First 5,000 km - 56.0 Then 50.0 |
| 2009 | First 5,000 km - 52.0 Then 46.0 | First 5,000 km - 56.0 Then 50.0 | 2008 | First 5,000 km - 52.0 Then 46.0 | First 5,000 km - 56.0 Then 50.0 |
| 2007 | First 5,000 km - 50.0 Then 44.0 | First 5,000 km - 54.0 Then 48.0 |
| 2006 | First 5,000 km - 50.0 Then 44.0 | First 5,000 km - 54.0 Then 48.0 |
Flat allowances paid that are not based on kilometres driven are fully taxable; report them in box 14 and code 40 of the T4. If the auto expenses exceed the allowance, the difference may be deductible ... check with your accountant.
CRA's publication T4130 Employers' Guide - Taxable Benefits and Allowances has a benefits chart which shows that you cannot include GST/HST on this allowance.
Company Vehicle Tax Rates
Updated December 29, 2011
Here is a tax tip from my favorite tax site, Taxtips.ca with regards company cars: "It is much simpler for an employee to use their own automobile and be paid a tax-free automobile allowance for the business use of the automobile."
The taxable benefit relating to the personal portion of automobile operating expenses paid by employers are:
| Year | Operating Expense Benefit | Selling / Leasing Benefit |
|---|---|---|
| 2012 | 26.0 | 23.0 |
| 2011 | 24.0 | 21.0 |
| 2010 | 24.0 | 21.0 |
| 2009 | 24.0 | 21.0 | 2008 | 24.0 | 21.0 |
| 2007 | 22.0 | 19.0 |
| 2006 | 22.0 | 19.0 |
These tax rates are for the "passenger vehicle category" and used on Form T2125 Page 5 in Charts B and C. They are reviewed and revised annually each December. The Finance Minister announced on December 29, 2011 that there is no change from 2011 for 2012 rates.
- Maximum monthly interest $300 on money borrowed to buy vehicle*
- Maximum monthly lease payments $800 plus taxes
- Maximum Class 10.1 capital cost $30,000 plus taxes
- Maximum GST ITC claimable 5% of $30,000 = $1,500
- Operating cost benefit** (taxable benefit) 24 cents per kilometre plus standby charge (taxable benefit)
*At year-end, you can claim the lesser of the actual interest paid or $10 per day times the number of days interest was paid.
**If employer pays the operating cost of the vehicle, defined as gas and oil, maintenance and repairs (less insurance proceeds), insurance and licence. It does not include interest, CCA, lease costs, or parking costs.
Need more information, read more here ...
Historical Tax Rates - Maximum Class 10.1 Capital Cost Restrictions
Jan 1, 2001 to present -- $30,000 plus taxes
Jan 1, 2000 to Dec 31, 2000 -- $27,000 plus taxes
Jan 1, 1998 to Dec 31, 1999 -- $26,000 plus taxes
Jan 1, 1997 to Dec 31, 1997 -- $25,000 plus taxes
Jan 1, 1991 to Dec 31, 1996 -- $24,000 plus taxes
Sep 1, 1989 to Dec 31, 1990 -- $24,000
Jun 17, 1987 to Aug 31, 1989 -- $20,000
Source of Historical Rates: CCH publication 'Preparing Your Income Tax Returns' 810a
Historical Tax Rates - Monthly Lease Limits
Jan 1, 2001 to present -- $800 plus taxes
Jan 1, 2000 to Dec 31, 2000 -- $700 plus taxes
Jan 1, 1998 to Dec 31, 1999 -- $650 plus taxes
Jan 1, 1997 to Dec 31, 1997 -- $550 plus taxes
Jan 1, 1991 to Dec 31, 1996 -- $650 plus taxes
Sep 1, 1989 to Dec 31, 1990 -- $650
Jun 17, 1987 to Aug 31, 1989 -- $600
Source of Historical Rates: CCH publication 'Preparing Your Income Tax Returns' 738
Historical Tax Rates - Daily Interest Limits
Jan 1, 2001 to present -- $10.00
Jan 1, 1997 to Dec 31, 2000 -- $8.33
Sep 1, 1989 to Dec 31, 1996 -- $10.00
Jun 17, 1987 to Aug 31, 1989 -- $8.33
Source of Historical Rates: CCH publication 'Preparing Your Income Tax Returns' 738
The Bookkeeper's Reference to Canadian Personal Tax
Looking for personal tax information? Personal taxes is outside the theme of this website (except for pieces and parts that relate to your home based business) as its niche is bookkeeping for the work from home business owner. But ...
... personal tax planning is an important aspect of your overall financial plan that should not be ignored. Soooo ... I am introducing you to my favorite tax site. I found this site a few years back and I drop in on a regular basis.
TaxTips.ca is an all Canadian reference site for easy to understand tax, financial and investing information. It also has terrific calculators. The one I like is the Canadian income tax calculator . You input a few key pieces of information and it estimates your taxes - all for free. Now that's easy tax planning! After every federal or provincial budget, the information is updated to reflect the changes.
TaxTips.ca is owned by a small private company located in Cedar, B.C. The web content is prepared by a husband and wife team who are retired from owning and operating a small business, with one being a retired professional accountant.
I just love this site ... and I hope you do too! Make tax planning part of your overall financial plan because you don't want to forget that ... Freedom is the Goal, Right?
2012 Personal Tax Rates CRA has released the 2012 indexation adjustment for personal income tax and benefit amounts in a fact sheet. The chart reflects an indexation increase of 2.8% for 2012 and compares the indexed amounts to the 2011 tax year. |
Let's Chat About ...
In Canada we have a progressive tax system based on individual incomes not family incomes. A low rate is imposed on lower incomes and a high rate is imposed on higher incomes. Currently there are four different federal tax brackets.
The federal government has their tax schedule and each province / territory has one as well. So it's tough to know what your combined marginal tax rate is, which is the highest rate at which your last dollar of income is taxed.
If you are in the lowest tax bracket, your income is taxed just on one rate. If you are in the second to fourth tax bracket, you pay tax at different rates.
Capital gains and dividend income attract different marginal tax rates than other income because of special tax rules. Only 50% of capital gains are included in taxable income while dividends are included in taxable income at 125% or 145% with an offsetting deduction from taxes payable.
Have you ever wanted to calculate your marginal tax rate but don't know how? Well here's how to do it.
Get your latest tax return filed with the CRA. Find the Schedule 1 Federal Tax and Your Provincial Tax Schedule in your tax return package. In BC, it's form BC428 British Columbia Tax. Each province has their own tax schedule. The form will start with two letters for your province / territory followed by 428.
On page 2 of both schedules, you will see the four different tax rates imposed on various levels of incomes. Federally, they are 15%, 22%, 26%, and 29%. Provinces set their own rates.
Take your taxable income reported on line 260 of your T1 return and pick the highest tax rate you paid tax on. If you are looking at your filed return, it should be easy to spot as you will see a completed calculation in one of the four columns.
Add the federal rate from your Schedule 1 and the provincial rate from your provincial tax schedule to get your marginal tax rate.
So if you had taxable income of $40,000 in the province of BC, your marginal tax rate would be 22% plus 7.7% = 29.7%. That means on your last dollar earned, you paid 30 cents in tax. Your marginal rate is the highest rate your income is taxed.
But here's the thing. Your marginal tax rate is not your actual tax liability.
To calculate that, you want your average tax rate. Your average tax rate will be lower than your marginal tax rate.
The easiest way to calculate your average tax rate ... take your tax payable from line 435 of your T1 (page 4). Divide it by your taxable income on line 260 of your T1 (page 3).
My favorite tax site has an average tax rate table for every province or territory at varying levels of employment income, showing average tax rates for each. You can also find marginal tax rates by following the links to your province or Canada.
So why do you want to know these rates?
Well, you can calculate what if scenarios (instead of letting the computer software do it for you). Suppose you couldn't decide whether to purchase a $1000 RRSP or donate $1000 to a charity.
With the above information, we can figure out which gives you the most tax savings. Using the $40,000 taxable income again, here's how:
(1) RRSP contribution of $1000 x marginal tax rate of 22% = tax savings of $220 plus future interest/dividends are sheltered.
(2) Charitable contribution of $1000 ... 200 x 15% = $30 + ($1000-$200) x 29% = $232 = tax savings of $262
That's just one example of what you can do when you know your marginal tax rate.
The Canadian Tax - Links
Return to Top - Canadian Tax Rates
Return to "The Tax" Section
Return to Home Page - Freedom is the Goal, Right?
New! Comments
Have your say about what you just read! Leave me a comment in the box below.
SIMPLE EASY
Office Filing System
Learn How to Organize Files
In Under 30 Minutes
$47
You can delegate responsibility but you can't abdicate it!
2 Bookkeeping Tests
Prescreening Tool or Study Aid
350 Questions
includes answer key,
Bookkeeping Basics Webcast
and more
$49 USD
LIFETIME ACCESS
Click on exam booklet to order
Click here for more information
How to Use This Exam:
(1) As part of your interview process when hiring a bookkeeper.
(2) To self assess your bookkeeping skills.
(3) As a practise test before writing your bookkeeping certification exam.
Learn How to Turn
Your Piles of Paper
Into an Organized
Electronic System
Click on the picture above
for easy to understand tips and strategies on how to go paperless.
Free eReport When You
Subscribe To My Newsletter
The Bookkeeper's Notes
Brian Tracy's
Click here to receive Brian Tracy's Free Goal Setting Success Guide!
(Listed Under Websites NOT Under Local Business. This website is not associated with any business operating in Bonnyville Alberta.)
From the Mail Bag
Visitor Comments
Thanks for the information. It is nice to see there is an online site where I can go get answers to my bookkeeping questions. It was really a stroke of luck I came across this site. I googled my bookkeeping question to see if I could get an answer, a shot in the dark, and bookkeeping-essentials was one of the results listed. I looked over some other sites but none were as flexible as this site. I got a quick response and I will be using this site in the future. Thanks again.
Bayside, NY, United States
I love your site...its very homey!!! It's like reading/talking to a friend!! Thanks!!
Kim, Jackson, MS United States
Your website is positively BRILLIANT! I don't care at all for the numbers side of my business, but you've made it interesting, fun, comfortable--downright enjoyable! Bite-sized WELL WRITTEN bits walking me through fundamentals, encouraging me, explaining.(Note: "well written" covers everything from "interesting" to "intelligent." The reader doesn't stumble over elementary grammar errors, lots of typos, etc.) I've only just discovered this lovely gold mine!
Cherie, U.S.
I have just come across your site and it's great...thank you so much for the time it must take you to compile the data and information. I have no accountancy or book keeping knowledge and am currently trying to learn QuickBooks via YouTube. (lol) There must be an easier way as I don't have the time or finances, what with starting a new business, to attend a course at college or similar.
Debbie, Vancouver, BC Canada
As a novice at the bookkeeping game, this site has become my go to site for research. Thank you for the great resource. I do my data entry one or twice a year (very low volume) and I find I need retraining on Quickbooks for things like depreciation/CCA.
Den, St. Albert, AB Canada
A More Than FANTASTIC site! So often I've thought about putting something together like your site, but didn't have the time. Googling information about Supplies or Tools over under $500.00 was the most useful Google search I've ever done because of discovering your site. Way to go and THANKS VERY MUCH. PS.... Also loved it that you put the Tax chart for GST HST back to 1997; I spent hours trying to get this information from the CRA website. I've not had time to look at your whole site, but I will be refering to it often I'm sure and will mention anything I think is missing, should I not discover information as I might be looking for it. Thanks, Again
Leona, Sicamous, BC Canada
Thank you for your comprehensive reply to my question. I really appreciate the time you took to explain it to me.
Connie, Canada
This is an absolutely awesome site! I am not lying. I went to Chapters to try to find something just like this and they did not have what I was looking for - which your site does ... which is good definitions and explanations. I am going to book mark this page if that's okay. ... Great job and thank you. I will definitely use this resource.
PK Lethbridge, Alberta
My biggest problem in doing my books is keeping debits & credits straight in liability and equity accounts. I really liked the cheat sheet. (I think that will help me keep the debits and credits straight.)
Lisa, Williston, USA
Lake you're awesome in every way. I have had some insight about how to properly classify some accounts.
Karim, Calgary, Alberta
Thank you so much for this website. I am interviewing for my first bookkeeping position in over 10 years--and my first in Canada. I have AAS degrees in Accounting and Business Admin from the US but have never worked in "my field" since immigrating in 2000. Your website makes me feel more confident I can actually do the job I am interviewing for. So far, I have been refreshing my knowledge and preparing for a job interview. I've bookmarked the site for WHEN I get the job!
Robin, Toronto, ON
I love your website. Just love it.
Carolann
CPB Bookkeeping, Inc.
"The Organizer"
Lake Worth, FL
I posted a question on Accumulated Surplus and you asked me to comment on your comments. I really appreciated reading what you posted and it did help. Especially the part of talking to the accountant. That really makes sense. I find more and more that I interact with the accountants to keep on learning. Love Love Love your website. Just discovered it about 3 weeks ago and have been on it lots since then.
Jan
Red Deer, Alberta
Wow. I'm so thankful to have stumbled across your site, with the assistance of Google. :) I love your style of writing, your approach, and your message. Thank you for your time and efforts. In a nutshell, your light humor and simple approach is refreshing and uplifting.
Kathy, Hillsdale, United States
Your site is great by the way. I just came across it.
Trish, Canada
Thanks for responding so quickly ... I really appreciate all the forum help ... I do Love the forum and have looked through other questions on it and feel it will greatly help in the future. Your site is fantastic and I will recommend it to anyone asking about bookkeeping help.
Cindy, Calgary, Canada
It (your site) is very helpful and thank you for your tips and advice. I am so glad I found your site.
Lee, Calgary, Alberta
Thank you so much for your hard work on your site ... I find I learn quicker and easier with you than I did with courses. Your site has helped my knowledge, learning new things and with the explanation of terms/items. Keep up the good "BookWORK"!
Naomi, Balance Your Books, Squamish, B.C.
This website has been very helpful. It's been too many years since school and I'm a bit rusty.
Sue, Medicine Hat, Alberta
I just found this site tonight. It's going to help me a lot as I learn how to use my Quickbooks more fully (I've only used it for payroll). Don't ask me how I've managed to keep the books this long -5 years- without knowing much more than how to balance a checkbook. I'm getting some help from a professional now, but your site will keep my pro costs down. Thank you. I will definitely donate once I begin to use it with my QuickBooks. It's [your site] easier to understand than Help in QuickBooks. QuickBooks assumes I know bookkeeping concepts. It [your site] appears to be very thorough, though I've only scratched the surface of what I can learn. I took an online bookkeeping class a couple of years ago, but this site has direct application to quickbooks and it's a searchable site!
Ruth, Dos Palos, CA USA
Thank you for providing valuable information regarding home business taxes on this website.
U.C., Toronto, Canada
I started my own bookkeeping business two years ago and enjoy your site. I literally grab my cup of coffee and look around for hours. :D It's a wonderful site with loads of information and I'm all about learning from my peers who might have the answers to some of the questions I may have. Keep up the good work. :)
Tania, TaniasBookkeeping.org
Taking the worry away
Belledune, New Brunswick
BTW, did you say Bookkeeping? Cuz I fell asleep... just kidding!
Dr. Julia
www.advice-with-dr-julia.com
(I love her humour!)
Absolutely a great site! I have often dreamed of having a similar site but figured I might have to wait until I retire to get the time. I have bookmarked this site and will return again.
C.H.
Alwyn Enterprises
Scarborough , Ontario
You have a wonderful website. Thank you so much for letting me know you have one now. [It] is really well done and very, very informative. Also really charming.
R.P.
Reliable Recordkeeping
Toronto, Ontario
I'm enjoying reading your blog! Thought I'd drop you a quick note of encouragement.
Loralee, Red2Black.ca
QuickBooks "one
on one" coaching
Edmonton, Alberta
This is a marvelous site and one that I would like to use as the basis for training bookkeepers. I am a CPA here in the states and am in the process of building a what will hopefully become a substantial bookkeeping business (not a dark wood & gold lettered CPA firm). I want to serve the small business owner with the day to day service they need. You have obviously put in an enormous amount of time and effort here (there is no doubt there) and provide a wealth of fantastic information.
R. Keith Pierce, CPA, P.A.
I'll Sweat The Small Stuff For You - JaxTaxPro.com
Jacksonville, Florida