Tax
Tax “loopholes” and the real problem with Canada’s tax…
5 minute read
Let’s talk about tax “loopholes” and the problems in our tax system and how Bill Morneau just made it a lot worse.
Tax
Tax
Tax
The truth about the 2019 small business tax cut…
5 minute read
In the last few days you will have seen Liberal MP’s across the country patting themselves on the back by posting this self-congratulatory info graphic on every social media outlet there is. They claim that by lowering the small business tax rate to 9%, they are saving small businesses up to up to $7,500 / year. Mathematically speaking, a 1.5% reduction x $500,000 of corporate earnings (after payroll) = $7,500/year. So this “savings” is fairly cut and dry, right? Maybe not…
Tax
Tax questions? Here’s some answers.
Here are the answers to the tax questions we get asked the most by entrepreneurs and small business leaders.
Tax
All your tax deadlines – summarized
As a business owner, you want to minimize the chance of being flagged by the CRA for any reason. Responding to CRA inquiries related to your filings can be costly and time consuming and adds another level of stress. Understanding your obligations, the deadlines for filing various returns, and the penalties for non-compliance is critical.
Tax
“Simplified” income sprinkling measures
12 minute read | co-authored by Clayton Achen and Carol Sadler
December 13, 2017: the headline on the Department of Finance’s website reads: “Government Simplifies Measures to Restrict Income Sprinkling”. Well this is welcome news! And just in time for Christmas! Oh… wait a minute, the release includes 24-pages of explanatory notes, 20 ‘real-life’ examples, 14 FAQs, 11-pages of technical amendments, 7-pages of background (and here), 2-weeks for Canadians to prepare, a nation of outraged entrepreneurial families and tax advisers… and a partridge in a pear-tree.