Last updated: Mar. 14, 2018
It’s tax season. For many small business owners in Canada, this is a season of dread: making sure your bookkeeping is in order and up-to-date, collecting receipts, and taking time to fill out the Canada Revenue Agency’s (CRA) often confusing tax forms. Unfortunately, waiting until the last minute can lead to … Read more
Last updated: Mar. 6, 2018
AgriStability – What’s New for 2018 A new 2018 Program was recently announced and, while there were only some minor changes, it is an opportunity for you to evaluate your Ag Risk Management, which includes AgriStability as an option. AgriStability is one of the risk management programs that was offered under … Read more
Last updated: Feb. 21, 2018
On 20 February 2018, British Columbia Finance Minister Carole James tabled the province’s fiscal 2018–19 budget. The budget contains several tax measures affecting individuals and corporations. The minister anticipates a surplus of $219 million for 2018-19, and projects surpluses for each of the next two years. Highlights New child care program … 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: 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: 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. 19, 2017
The government released further changes to their controversial July 18 proposals on private company tax planning, the third such release during Small Business Week. This announcement focused on the issue of converting income to capital gains and the tax advantages associated with this planning. The government appears to be backing down … Read more