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March 11, 2020

Did you know that unless you keep a log book for your car you can not claim more than $3,400¹ in motor vehicle deductions on your tax return, regardless if you are an individual or a business!²

Let's do some quick calculations.

Assuming you spend $75 a week for fuel, o...

May 31, 2019

As the financial year draws to a close, clients often ask us what is the easiest way to save on tax.

Thanks to the federal government's recent law change, you can save even more on asset purchases this year.

You can now write off assets purchased after April 2nd 2019, up...

January 31, 2019

Have you ever been at the shops and seen something you would like to buy and thought whether or not it is tax deductible? As accountants we are constantly asked what can and can't be claimed come tax time. So we thought we would list our 5 all time favorites.

1. Makeup

Y...

November 28, 2018

As the holiday season draws closer, many workplaces will be having their annual Christmas parties and purchasing gifts for their staff and customers.

But did you know that just because the business is paying for the gift, it does not mean that a tax deduction is always...

March 19, 2018

Here at MP Tax & Business Solutions, we have a wide and diverse group of clientele. But no matter how unique each of our clients can be, we tend to get asked some of the same questions.

So we thought it would be a great idea to answer some of these queries here.

Q. My bo...

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