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PSB: The CRA’s Red Flag
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PSB: The CRA’s Red Flag
When contractors are engaged to provide services through their own corporation, it isn’t always as simple as “you’re an independent business.” In some cases, the Canada Revenue Agency (CRA) considers such arrangements to be a Personal Services Business (PSB) — a classification that carries very specific tax implications for both the contractor and their corporation. What Is a Personal Services Business? A Personal Services Business exists when a…
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