Articles: Financial Planning

Last updated: Sep. 11, 2025 As we wind down another challenging year of dealing with historic inflation, the last thing you want to think about is taxes. However, with profit margins tighter than ever, this is exactly the right time to take steps to minimize your tax burden. For incorporated businesses, this starts with understanding your … Read more

Last updated: Jul. 15, 2025 What is income splitting? Income splitting is the strategy of redistributing income within a family—usually from a spouse in a higher tax bracket to a spouse in a lower tax bracket—to reduce a family’s overall tax bill. In general, income splitting works best when one spouse earns significantly more income than … Read more

Like farming, tax planning is a year-round activity, and the end of the calendar year is the perfect time to implement strategies to maximize tax savings.  

Long hours, harsh conditions, and a constant battle against the clock. As a truck driver, you’ve got a lot on your plate. But what about your taxes?

Last updated: Apr. 2, 2025 Update (March 2025): The federal government has cancelled the proposed capital gains inclusion rate increase, but the Lifetime Capital Gains Exemption (LCGE) will still rise to $1.25M. Read the official announcement here. We will update this content once the LGCE legislation is passed. If you are renting out your farmland, you could … Read more

Last updated: Feb. 7, 2025 What Happens If I Pay My Relative an “Unreasonable” Salary from My Corporation?  Many Canadian-Controlled Private Corporations (CCPCs) involve family members in their business and pay them a wage for completing specific job duties. It is also common for CCPCs to have spouses and children as shareholders of the corporation.  However, … Read more

Last updated: Feb. 7, 2025 As Canadian interest rates continue to soar, the idea of taking out a loan from your corporation at no or low interest may be increasingly appealing. But, before you start using a shareholder loan account, it’s important that you understand the associated tax impact and implications. While shareholder loans may initially … Read more

Last updated: Jan. 22, 2025 Large gifts of money and property will get CRA’s attention. Follow these tips to limit the tax burden for giver and receiver. Gifts of property among family members are common and can be very welcome for the recipient and satisfying for the giver. Although Canada has no gift tax, in some … Read more

The Canadian Pension Plan (CPP) enhancement significantly increases pension contributions from employers, employees and self-employed individuals.