The B.C. Government has extended the transparency reports required by indirect owners of B.C. land to November 30, 2022. This filing date applies to the beneficial owners of all corporations, trusts and partnerships that have an interest in B.C. land acquired prior to November 30, 2020. This filing date is not applicableRead more
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The 2022 British Columbia budget did not directly increase corporate or personal income tax rates. However, there are multiple indirect and PST tax changes. We have highlighted a few below. Purchase price of private vehicle sales Effective October 1, 2022, tax on private sales of motor vehicles will be based on the greater ofRead more
Preparing for your 2021 taxes has never been easier. Once you have gathered all the necessary information outlined in your tax package mailed early February, upload them using your client portal. https://www.sabojang.com/client-portal/ Alternatively, drop your tax information off at our offices 24/7 using the night drop slot to securely deliver your tax documents onRead more
You can claim up to $500 per year for amounts you paid for qualifying digital news subscriptions for the tax years 2020 through 2024. The CRA launched the digital news subscription tax credit in 2021 as a tax measure to support journalism. Since then, the CRA’s list of qualifying digital news subscriptions has vastlyRead more
The Canada Emergency Business Account (CEBA) program offered interest-free loans of up to $60,000 to small businesses and not-for-profits. Given the continued challenges to many businesses because of the Omicron variant, the repayment deadline for CEBA loans to qualify for partial loan forgiveness is being extended from December 31, 2022, to December 31, 2023, for allRead more
On December 14, 2021, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, delivered the Federal Government’s Fall Economic and Fiscal Update. No personal or corporate tax rate changes were announced; however, the Government announced several tax measures to continue supporting Canadians. Read below for a summary of the most relevant measures orRead more
If your corporation owns an interest in real estate in British Columbia, this correspondence applies to you. As a courtesy, we wish to inform you that the Land Owner Transparency Act requires that all companies, trusts and partnerships that have an interest in land in B.C. must file a transparency report on or before NovemberRead more
Today is voting day for the federal election. The Canada Elections Act requires that all employees in Canada are allowed 3 consecutive hours to vote. Many of the polling stations in the area are only open until 7PM. As such, Sabo, Jang and Co. will be closing today at 4PM to allow employees theRead more
Personal income tax filers: The Canada Revenue Agency’s (CRA) original extension for the deadline for personal income tax from April 30, 2020 to June 1, 2020 remains intact. However, if you have income taxes owing, the deadline to pay the taxes has been extended to September 1, 2020. Personal income tax filers with self-employment income:Read more
March 18, 2020 In response to the COVID-19 Virus: Our office remains open at this time but with reduced hours for the public (9am to 12pm). Our staff are still working full business hours (830am to 5pm) and we are advising people to communicate with us via email and telephone as much as possible.Read more
