Articles: Tax Planning

Last updated: Oct. 25, 2017 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 … Read more

Last updated: Oct. 18, 2017 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 … 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

Last updated: Aug. 2, 2017 Farmers preparing their wills and succession plans should be aware of the details of the capital gains exemption and the capital gains deduction. Before you get into the various strategies available for a successful transition of the family farm to the next generation it is important to discuss the interests and … Read more

Last updated: Jul. 12, 2017 Tax Planning for Canadian Agribusinesses There are a lot of important factors that Canadian farmers need to consider when running their business. One of the most important is tax planning and how it affects the day-to-day operations of the farm business. Fortunately, there are significant tax strategies out there for Canadian … Read more

Last updated: Apr. 5, 2017 Small Business Tax Return Myths Over the years a number of tax myths have surfaced about filing small business tax returns. This is totally understandable; it’s difficult to keep up with the changes that take place in Canada’s complex tax system. Not only can these tax myths make filing your taxes … Read more

Last updated: Mar. 29, 2017 Tax Season: How to Prevent an Audit by the CRA If there’s any one time you don’t want to draw attention to your small business or agribusiness it’s during tax season. In addition to ensuring your paperwork is in order and your taxes are prepared correctly, a growing number of business … Read more

Last updated: Jan. 8, 2014 The 2013 budgets released in the Spring of 2013 brought a few changes that will affect your taxes this year and perhaps put more money in your pocket. First-Time Donor’s Super Credit If you or your spouse hasn’t claimed the charitable deduction tax credit in the past 5 years, you’re eligible … Read more

Last updated: Oct. 30, 2013 As a small business owner you’re faced with many rules and regulations, not just government, but also for your specific trade or profession. It can often be overwhelming trying to keep track of all the requirements. Here’s a short list of 5 things that you can be aware of to ensure … Read more