Articles: Tax Consultation

Last updated: 2017-10-25 10:33:02 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 aware … Read more

Last updated: 2017-10-24 13:21:06 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 would … Read more

Last updated: 2017-10-19 11:00:02 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 on … Read more

Last updated: 2017-10-18 08:09:48 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 benefit … Read more

Last updated: 2017-10-18 08:07:39 Farm Businesses in Canada Whether it’s a family farm that has been in operation for generations or it’s a start-up, there’s an attraction to being your own boss and working outdoors. It also doesn’t hurt that farming in Canada has become more lucrative over the years. The government of Canada offers a … Read more

Last updated: 2017-10-16 10:43:18 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 that … Read more

Last updated: 2017-10-11 09:13:38 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 in … Read more

Last updated: 2017-09-26 10:03:32 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. … Read more

Last updated: 2017-09-22 11:44:32 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 … Read more