A few months ago, Dining Date Night began offering customers a 30% discount at various restaurants in Toronto. In order to get the discount, a customer books a reservation on a website and pays a $10 fee to Dining Date Night. When the customer visits the restaurant, 30% of the total bill (before taxes) is deducted as a discount. This type of promotion is relatively good for both the consumer and the restaurant that provides the discount, because the restaurant can restrict the hours when reservations may be taken.
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Posted in Canada Revenue Agency, GST, HST, Income taxes, Sales Tax, Taxes, tagged Audits, Canada Revenue Agency, Canadian Restaurateur, CRA, Customer comps, excise tax act, GST, harmonized sales tax, HST, Income tax, POS, Sales Tax, tax auditors, tax audits, Taxes, technology on June 20, 2012| 9 Comments »
I’ve written a couple of articles about Groupon on my sister blog, Canadian Restaurateur. This is part of a series that will cover accounting for Groupon certificates, setting up your Point of Sale (POS) system to properly track coupons and discounts, using QuickBooks to enter Groupon transactions, examining the tax treatment of Groupon certificates (this one), and finally, determining whether your restaurant should consider Groupon.
Many restaurant owners use their automobiles for picking up supplies for the business, researching other restaurants, and making trips related to the restaurant’s operations. In Canada, individuals are able to claim a reasonable portion of their automobile expenses against their employment income from the business. Even if you don’t draw a salary, you’re still considered an employee, by being a director of the company.