This recent post on the SME Blog talks about the recent changes the UK has made to VAT, in that they are now offering small businesses the ability to account for and remit VAT on a cash basis, rather than accrual: The VAT cash accounting scheme allows you to account for VAT (output tax) onContinue reading “Simplifying VAT in the UK compared to GST in Canada”
Author Archives: Neil
AMT woes south of the border – what about us?
The Alternative Minimum Tax is getting a lot of coverage in the US since changes made by Reagan in the 80s are causing it to affect 80% of “families with an adjusted gross income of $75,000 to $100,000,” in other words, a lot of frickin’ families. When the tax was first introduced in 1969, itContinue reading “AMT woes south of the border – what about us?”
City budget indecipherable to ordinary citizens
Toronto released their budget this week and other than the usual tax hikes for property owners, this interesting post on Eye Daily about the gibberish and jargon of a city budget. It lists the specialized terms the budget contains to describe its expenditures and revenues, and the list is incomprehensible, even to me, a soon-to-beContinue reading “City budget indecipherable to ordinary citizens”
Budget move likely to discourage global expansion
Yesterday’s Globe and Mail: The federal Finance Department is acknowledging it could reap a bonanza of additional tax revenue from a controversial budget move to scrap the deductibility of interest that companies incur to fund foreign operations. I’m trying to understand the logic here but I can’t. I know this is money leaving the country,Continue reading “Budget move likely to discourage global expansion”
Auditor, noun: an accountant with a grudge
From Lickspittle Shite-a-bed comes this very funny “history” of auditors, including this gem: Stocktaking is a strange version of foreplay perculiar to auditors. The audit pack will arrive at an industrial premises at 6am in the morning and demand to know how many widgets they have. The auditors will then spend many happy hours countingContinue reading “Auditor, noun: an accountant with a grudge”