About: Paul Babber

For over 30 years, Paul Babber and Associates Ltd. has served residents of Richmond Hill and the Greater Toronto Area (GTA) for all their income tax needs. Founder Paul Babber brings over 40 years of experience to the practice. He has provided income tax service in the GTA since 1970. Since receiving his designation in 1960, Paul has acquired a wealth of knowledge in many areas of personal and corporate taxes.

The practice also employs eight accounting assistants with a commitment to providing the best and most reliable income tax services. The friendly and knowledgeable staff will provide you with all the answers you need about Canada’s changing tax laws. They offer e-file online for fast and reliable tax refunds. Whether it’s filing annual corporate and/or personal income taxes, handling all details of CRA audits and reviews, or helping our clientele plan for their financial future, we pride ourselves on our friendly, personable approach to accounting.

Your privacy when it comes to financial matters is important. That’s why we offer confidential service for our clients. We realize that you have a busy schedule and can’t spend hours at your accountant’s office. That is why we will work to serve you as quickly as possible.

Recent Posts by Paul Babber

Why You Benefit with Personal Tax Preparation Services

personal tax returns-filing servicesTax season hasn't arrived just yet, but that's all the more reason to consider personal tax preparation services now. It is always better to engage such services ahead of time rather than do it as part of the mad scramble when the April deadline starts looming overhead. Engaging a professional to perform your tax preparations can let you make it through such a frantic time without stress and with the confidence that you have paid your appropriate dues.

Identifying Tax Professionals

Whether you go to a tax preparation service for advice or because you wish to have them perform your filings,...

Paul Babber & Associates Warns Against U.S Dividend Stocks in TFSA

Toronto, Canada, January 11, 2016 – Paul Babber & Associates (www. pbaltd.ca), a premier accounting and tax consultation firm in the Greater Toronto Area (GTA), is warning Canadians to be cautious about one part of their Tax-Free Savings Accounts (TFSA) that is not entirely tax-free. The costs arise when Canadian investors attempt to diversify their TFSA by incorporating dividend stocks from the United States. (Source: Jackson, D., “The TFSA isn’t always tax free,” Business News Network, December 21, 2015; https://www.bnn.ca/News/2015/12/21/The-TFSA-isnt-always-tax-free.aspx.) "The IRS [Internal Revenue Service] takes 30% of any U.S dividends," explains Paul Babber, the CEO and president of Paul Babber & Associates. "This happens regardless of whether the investor is...

and Associates Weigh Costs of Trudeau Small Business Tax Changes">Paul Babber and Associates Weigh Costs of Trudeau Small Business Tax Changes

Paul Babber and Associates (www.pbaltd.ca), a premier accounting and tax consultation firm in the Greater Toronto Area (GTA), is weighing in on the predicted changes to the small business tax rate and what the Trudeau government's plans will mean for Canadians. The Liberal government has pledged to revise small business tax rules and wants to ensure that their plan does not inadvertently aid wealthy citizens who set up "shell" businesses to reduce their personal income tax amounts. This is a heightened concern in light of the tax increase that will be imposed on the country's top one percent. (Source: Curry, B. “Uncertainty looms for small-business...

Bookkeeping Benefits for Your Toronto Business

Business bookkeeping TorontoBookkeepers are useful to employ for any business because they offer an ongoing way to track and monitor expenses. However, there are often a few hesitancies when it comes to deciding whether or not to hire such an individual. The task may not immediately seem like one that requires a new staff member, or there may be concerns about letting a third party know about the inner workings of your business. These are natural concerns but ones that are hard to maintain when the full business benefits of a bookkeeper are realized.

Opportunity Costs

Any time you spend trying to manage your own bookkeeping is time that...

and Associates Ltd. Predicts Results of Liberal Tax Plan">Paul Babber and Associates Ltd. Predicts Results of Liberal Tax Plan

Toronto, Canada, December 9, 2015 – Paul Babber and Associates Ltd. (www.pbaltd.ca), a premier accounting and tax consultation firm in the Greater Toronto Area (GTA), comments on who will be affected most when the Liberal government enacts their planned tax changes. With Parliament fully resumed, it is expected that a tax bill in line with Prime Minister Justin Trudeau's campaign pledges will be introduced within the coming weeks. "There are currently four main income tax brackets under the existing system," explains Paul Babber, the CEO and president of Paul Babber and Associates Ltd. "The middle income bracket—between $44,701 and...

and File T4, T4A and T5 Slips">How to Prepare and File T4, T4A and T5 Slips

Income Tax ReturnsIn Canada, tax slips need to be filed by the end of February. Electronic filing is only available until December 17th. No one wants to be left scrambling at the last minute, so it's important to get yourself organized and your forms filled out as soon as possible. For employers, one of the common sets of slips to fill out are the T4 and T4A forms that relate to payroll operations like salaries, commissions, pensions, and RESP arrangements. Another common form to file around this time is the T5, which is used to report certain forms of investment...

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