Last updated: Oct. 24, 2017
In addition to the proposed legislation to reduce Canada’s small business tax rate to 9% (from 10.5%) by 2019, Canada Finance Minister Bill Morneau’s fall economic update also makes consequential adjustments to the dividend tax credit rate and enhances the Canada Child Benefit, among other changes. Finance recently announced that it … 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
Last updated: Oct. 18, 2017
Finance Minister Bill Morneau issued an announcement outlining how he intends to proceed with changes to how passive income earned in private companies is taxed. This was seen by many as the most controversial feature of the original tax proposals and this announcement includes significant relief from these proposals that will … Read more
Last updated: Oct. 16, 2017
Prime Minister Justin Trudeau and Finance Minister Bill Morneau announced that the small business tax rate would decrease to 9% (from 10.5%) by 2019 as part of new changes to the private company tax proposals. The government has planned additional announcements in the upcoming week to provide further details of changes … Read more
Last updated: Oct. 11, 2017
Why Startups Need a Managed Accounting Service When you’re running a startup, every dollar counts. You’re busy trying to build the business, manage time, stretch your budget, and cut costs. One place you should never skimp on is hiring a managed accounting service, especially when you consider how many startups fail … Read more
Last updated: Sep. 26, 2017
Last week FBC published blog posts regarding the looming tax hikes, that will increase taxes for small business owners and farmers. If you’re concerned with the legislation, we suggest taking these actions to make your voice heard. Email Members of Parliament The most significant influencers at this point are current Liberal … Read more
Last updated: Sep. 22, 2017
FBC’s tax team has analyzed the looming changes for tax legislation being tabled by the federal government. There is a lot of rhetoric and emotion around the legislation; in addition to much confusion on its impact. Our tax consultants and advisors are receiving many questions about the changes. There are many … Read more
Last updated: Sep. 6, 2017
Business Structures in Canada If you decide to start your own business in Canada, you need to decide which kind of business structure is best suited to your needs. Different business structures offer unique advantages and limitations that you should be aware of. There are 4 types of business structures, each … Read more
Last updated: Aug. 23, 2017
Currently, a private corporation can provide good tax planning strategies to receive income from your business. The Canadian Revenue Agency has proposed legislation that will reduce or even eliminate many of the current tax benefits of a private corporation. The CRA is focused on the perceived inequities between taxation of income … Read more