Employee vs Contractor: What’s the Difference

By |2021-10-24T09:53:14+00:00December 11th, 2020|Business, Taxes|

The question of whether someone who works for you is an employee or a contractor is an important one. It’s the difference between someone being your employee or being self-employed. If handled incorrectly, there can be penalties for you as a business owner, as well as the worker.  The Canada Revenue Agency (CRA) provides a very detailed guide on the question: employee vs contractor. We break down the key things you need to consider below. Employee vs Contractor You might be wondering what difference it makes. Employee vs contractor, so what? The main concern is a person’s eligibility for employee benefits [...]

Comments Off on Employee vs Contractor: What’s the Difference

How to Charge GST on Your Materials – The Contractor (3 min read)

By |2021-10-24T09:53:19+00:00October 11th, 2016|Uncategorized|

 By Alissa Bryden, CPA, CA Contractors often ask me about how to charge GST on the materials included on their invoices. There are two main ways contractors can create their invoices. One where the materials are paid for by the client as a reimbursement and one where the materials are part of the sale price. It is important to note that GST charged on your invoices is called “GST Collected”. GST paid when you pay for the materials are called “ITC’s”. When you remit a payment to the Canada Revenue Agency you net these two. Reimbursement When a client is paying the materials as [...]

Comments Off on How to Charge GST on Your Materials – The Contractor (3 min read)
Go to Top