Finance, Tax, and CRA Compliance
Canadian auto shops face GST/HST, payroll, capital cost allowance on equipment, and the specific CRA scrutiny that comes with cash-heavy small businesses. This category covers bookkeeping setup, tax-efficient owner compensation, equipment financing, and the CRA audits independent shops most often face. Written with input from accountants who specialize in trades businesses.
15 articles in this category.
Back to all articlesPaying Your Spouse or Children: CRA Rules for Reasonable Family Wages
Learn CRA rules for paying family members at your auto shop. Understand what makes wages reasonable, documentation requirements, and how to stay compliant.
Filing T4s for Your Family Business: Common Pitfalls and Best Practices
Master T4 filing for your auto shop family business. Learn deadlines, common errors, and best practices to avoid CRA penalties.
Managing GST/HST Remittances: A Survival Guide for Busy Mechanics
Master GST/HST remittances for your auto shop. Learn filing deadlines, input tax credits, registration thresholds, and best practices to avoid penalties.