Last updated: Jan. 10, 2018
If you’re a small business owner, or thinking of starting a business, you may be wondering if and how you should structure your company. Of the 4 different ways to structure a business (proprietorship, partnership, co-operative, or corporation), incorporating has the most advantages for small business owners. When is the right … Read more
Last updated: Jan. 8, 2018
The Canadian government has announced a replacement to Growing Forward II, which expired effective December 31, 2017. The new Farm Business Risk Management Program still includes AgriStability and AgriInvest. Farm Business Risk Management Programs The suite of Farm Business Risk Management programs includes: AgriStability: support when producers experience a large margin … Read more
Last updated: Jan. 3, 2018
Buying a business in Canada is a big, exciting step with many opportunities and risks. On the plus side, buying a business means you get an immediate revenue stream and customer base. The previous owner might even be able to help show you the ropes in the early stages.
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Last updated: Dec. 20, 2017
Farm Operators and Property Taxes Farm properties can be quite varied and include working farms, farmland, outbuildings, specialized farms, fruit orchards, etc. On top of that, many Canadian farms also have a house on them that the owner/farmer lives in.
As a farmland owner, you may be eligible … Read more
Last updated: Dec. 14, 2017
On December 13, 2017, the Government published details of its proposals to (in their view) simplify and improve the treatment of income sprinkling, which are proposed to be in effect for the 2018 tax year and beyond. The Canada Revenue Agency (CRA) has also released guidance with respect to these measures. … Read more
Last updated: Dec. 13, 2017
There are over 86,000 registered charities in Canada so there are many opportunities for you to give back and benefit from tax relief at the same time. The donation of life insurance policies and annuities to registered charities is a great way to benefit a favourite charity and for the donor … Read more
Last updated: Nov. 9, 2017
As wildfires are still burning in many areas of B.C., and thousands of people remain on evacuation order, the government’s focus will continue to be on fire suppression and emergency social services supports. In the coming weeks, this focus will shift more fully from public safety to recovery. To assist families … Read more
Last updated: Nov. 8, 2017
What a Tax Professional Can Do for Your Family Business Family businesses, big or small, are the backbone of the Canadian economy. In fact, approximately 80% of all businesses in Canada are family-owned. On top of that, family-owned businesses are responsible for the majority of the country’s gross domestic product (GDP). … Read more
Last updated: Oct. 25, 2017
Having a thorough understanding of Canada’s tax law will provide you with everything you need to know about maximizing deductions and minimizing the amount you have to pay to the Canada Revenue Agency. Unfortunately, there is a lot to know when it comes to Canada’s ever-changing tax codes. That said, being … Read more