Articles: Tax Consultation

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 MPs. Frustration is mounting … Read more

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 proposed changes which can … Read more

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 proposed changes which can … Read more

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 with their own tax … Read more

Financing Programs for Farm Businesses Farming is a unique occupation with its own challenges. The high cost of basic farming equipment, technology, and land and changing weather conditions are just a few challenges that can significantly impact a farm’s profitability. That’s why the federal and provincial governments in Canada provide farmers with many different grants, … Read more

Legal Loopholes That Can Reduce Your Taxes While most small business owners in Canada don’t like to prepare their annual tax returns, most business owners say they don’t mind paying their fair share of small business taxes. That said, business owners are always looking for ways to legally minimize their tax burden. Fortunately, the Canadian … Read more

Registering a Small Business in Canada Canada is a country of small businesses. In fact, of the 1.16 million businesses in Canada, 1.14 million, or 98%, are small businesses—that is, employers with 99 employees or less. While small businesses may account for all but a sliver of employers in Canada, no small business is the … Read more

Canada’s tax laws are confusing in and of themselves. If you’re a Canadian farmer, it can be even more difficult. That’s because there are specific tax obligations that relate only to Canadian farm businesses. Farm Income Tax Basics For income tax purposes, in Canada, farming income is money that comes in from: Raising and showing … Read more

Working with an Accountant for Your Agribusiness Whether you operate a large-scale, full-time farming business with a thousand head of cattle or run a small, part-time farm that grows garlic, farming is a different type of business. In addition to being able to claim all the typical business expenses, Canadian farmers can also claim tax … Read more

The Saskatchewan Budget introduced in March 2017 changed the scope of the services that PST is to be charged on with most changes already effective as of April 1 2017. There are also changes you need to be aware of effective July 1, 2017. Summary of Changes to Saskatchewan PST PST increases from 5% to … Read more