Articles: Tax Planning

Last updated: Nov. 8, 2019 So you want to sell your business to another corporation with no family ties to you. That is considered an arm’s length deal and you can claim your lifetime capital exemption. Try and do the same with a family member. That’s called a non-arm’s-length deal, and a nasty bit of the … Read more

Last updated: Nov. 6, 2019 We love hearing from farmers and small business owners on what they like about being a FBC Member. Here are some of our favourite recent FBC reviews. FBC On-Site Tax Appointment Our Members tell us they appreciate the convenience of an on-site tax appointment at their home or business. Always available … Read more

Last updated: Oct. 30, 2019 Do you have a disability or a child with a disability? Are you worried about saving for retirement? Then you should open a Registered Disability Savings Plan (RDSP) to help you start building long-term savings. The RDSP shares some similarities with the Registered Education Savings Plan (RESP), which was set up … Read more

Last updated: Oct. 28, 2019 On Oct. 24, 2019, Alberta Finance Minister Travis Toews presented the province’s fiscal 2019–20 budget. The minister anticipates a deficit of $8.7 billion for 2019-20 and further deficits of $5.9 billion in 2020-21 and $2.6 billion in 2021-22. A surplus of $0.6 billion is projected in 2022-23. There are no new … Read more

Last updated: Oct. 25, 2019 Justin Trudeau’s Liberal Party is back in power, but as a minority government this time after the general election on Oct. 21, 2019. The Liberals proposed several changes in their election platform that could have tax implications for small business owners and farmers. Until the federal budget gets released in Spring … Read more

Last updated: Oct. 11, 2019 Are you worried about saving for your child’s education after high school? What if we told you there’s a way you can start saving now for their future, and get a boost from the Canadian government? The registered education savings plan (RESP) is a savings account that can be set up … Read more

Last updated: Sep. 26, 2019 If you want to read more about why our Members love our year-round, personalized, all-in-one solution for their farm or small business, here are some of our favourite recent reviews. FBC On-Site Tax Appointment We’ll come to your home or place of business to understand the details of your operation and … Read more

Last updated: Sep. 5, 2019 Granted, payroll obligations are not a simple procedure and the red tape may seem overwhelming at times but it is one area that attracts close scrutiny from the Canada Revenue Agency (CRA). Essentially, you have to record and remit deductions for Canada Pension Plan (CPP), employment insurance (EI) and all federal, … Read more

Last updated: Jul. 31, 2019 If you’re a small business owner and are thinking about selling your business, it’s a good idea to start succession planning. According to the CFIB, the vast majority of business owners (81 per cent) intend to sell or transfer their business to retire, although only a fraction of them have started … Read more