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
Last updated: Mar. 20, 2019
Tax Deductions You Might Be Forgetting The average small business owner in Canada pays more than 42% of their income in taxes. First off, that’s a lot of money. Second, no one wants to give more of their income to the Canada Revenue Agency (CRA) than they legally need to. Unfortunately, … Read more
Last updated: Mar. 19, 2019
“A Budget that works for all New Brunswickers” On March 19, 2019, New Brunswick Finance Minister Cathy Rogers delivered the province’s 2019 budget. The budget focused on three key priorities: Investments in seniors; Youth employment; and Economic competitiveness. The 2018-2019 budget projects government revenues to increase by 1.77%, while expenses are … Read more
Last updated: Mar. 19, 2019
On March 19, 2019, the Honourable Bill Morneau presented his fourth budget as Minister of Finance. The 2019 Federal Budget, entitled “Investing in the Middle Class”, focuses on: Making Home ownership more affordable for first-time buyers. Help workers gain new skills. Preparing young Canadians for good jobs. Helping Canadians with the … Read more
Last updated: Dec. 12, 2018
This article originally appeared May 4, 2017 | Robert Graham, Miller Thomson LLP Not just anyone can become a farmer; yet many Canadians aspire to transfer from their existing occupation into farming. The challenge with said aspiration is that starting up a farm business is difficult, and though the federal government … Read more