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. 10, 2019
You’re likely familiar with the Registered Retirement Savings Plan (RRSP), which gives Canadians a way to shelter income tax until retirement, but have you considered a Group Retirement Savings Plan (RSP) for your employees? How does a Group RSP work? A Group RSP is a group retirement savings plan managed and … Read more
Last updated: May. 29, 2019
The more tax credits you can take advantage of, the lower your taxable income will be. There are some refundable tax credits you can use even if you don’t owe any taxes. Keep reading to discover an important tax tip if you’re self-employed and have children. What Is the Canada Child … Read more
Last updated: May. 9, 2019
It takes a lot of work to get a business up and running, and even more work to make it a success. There are also a lot of things that need to be done when closing a business, whether it’s a sole proprietorship, partnership or corporation. Taking care of any tax … Read more
Last updated: Mar. 26, 2019
“Building on a Strong Foundation” On 26 March 2019, Nova Scotia Finance and Treasury Board Minister Karen Casey tabled the province’s fiscal 2019–20 budget. The budget contains several tax measures affecting individuals and corporations. The budget contains no new taxes and no tax increases. The minister anticipates a surplus of … Read more
Last updated: Mar. 20, 2019
The Right Balance! On March 20, 2019, Finance Minister Donna Harpauer delivered her second budget as Finance Minister. The budget is balanced and anticipates a surplus of $34.4 million for 2019-20 and $49 million for 2020-21. Although the budget does not include any new changes to the corporate or personal tax … Read more