Articles

Know the Rules When Paying Family for Farm Work  Farming as a family is a tradition for many, built on shared values and hard work. But when it comes to paying family members, things can get complicated. Should everyone get a paycheck? How do you value the countless hours put in by spouses and children?  … Read more

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 cases a gift can … Read more

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

Charitable giving offers a powerful way to provide tax relief while helping a cause close to your heart.

Tax season can feel overwhelming, but don’t worry. Filing your taxes accurately and on time is easier than you think.   We’ve compiled a handy list of key dates and tax numbers to help you get started.  Canada’s tax filing and payment deadlines for the 2024 tax year Description  Date  Registered Retirement Savings Plan (RRSP) contribution  … Read more

The Canadian government’s 2024 Fall Economic Statement was released on December 16, 2024, and outlines various initiatives to strengthen the economy.

Donations can take many forms, but there are specific rules about what types of donations qualify for a tax break in Canada.

When it comes to farm work, it’s not unusual to offer additional perks for employees.

You’ve worked tirelessly on your farm. Now, it’s time to reap the rewards… and pay as little tax as possible. 

*UPDATED FOR 2024* The calendar year may be winding down, but there’s still time to create a strategy to lower your tax bill and boost your bottom line.  1. Long-Term Tax Strategy and Business Transition Plan  If you haven’t already developed a long-term tax strategy or business transition plan, it’s time to prioritize this. Wide-sweeping … Read more