Quote:
Originally Posted by Igster
It's a smaller company and he merely stated that I would be best off being a contractor so I could write everything off. I may go that way yet.
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This is going to end well.
Let's put it this way, if you're an employee, be an employee. I'd highly wager you're already flagged in the system as an employee, and flipping to a contractor is going to set off nothing but red flags and end very poorly for you and your employer.
The CRA holds annual update meetings for tax accountants, where they share key areas of concern and where they're going to crack down on returns. This year? They're coming down hard after people that are employees but claiming as contractors, as well as people that are using personal service corps but not declaring them as such. (Oh and with the tax rates/penalties that apply to being deeemed a personal service corp, I wouldn't even want to be one).