Please note the following important dates are estimates only. Please confirm your deadlines directly with your professional advisor. July 15, 20234 - The June payroll for monthly remittances is due. July 15, 2024 - Tax filings for December 2023 year…
In the world of business, financial statements are the backbone of financial transparency and decision-making. Understanding the differences between compilations, reviews, and audits is crucial for any business owner. Shajani CPA, a firm with a 40-year legacy and a ten-year…
Discover how you can preserve your family's wealth and secure a legacy for future generations with testamentary spouse or common-law partner trusts. These specialized trusts are essential for family-owned businesses in Canada, offering a strategic way to defer taxes and…
Ever wondered how the money from a family trust impacts your taxes? Understanding income interests in a trust is key to unlocking this mystery. An income interest in a trust refers to the right of a beneficiary to receive income…
Canada Growth Fund’s Fourth Investment Announcement Deputy Prime Minister welcomes the Canada Growth Fund’s fourth investment On June 11, 2024, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, announced the Canada Growth Fund’s fourth investment, marking its…
Tax Obligations for Ridesharing and Delivery Service Drivers in Canada Revised – Tax obligations for commercial ridesharing and delivery service The Canada Revenue Agency (CRA) has released a revised guide on tax obligations for individuals involved in commercial ridesharing and…
Overview of the Capital Gains Inclusion Rate Increase Motion Brace yourself, taxpayers: the capital gains tax is about to change dramatically. On June 10, 2024, the federal government introduced a Notice of Ways and Means Motion to the House of…
Imagine receiving a letter stating you owe thousands in pandemic benefit repayments, only to find out months later it was a mistake. This is the reality for thousands of Canadians who initially were told they were ineligible for benefits like…
Small businesses are the backbone of our economy, yet they are being crushed under the weight of rising costs. Restaurants Canada, alongside other national business associations, is urging the federal government to act on a pivotal report titled "On the…
As Canada gears up for significant tax changes, understanding how these adjustments will impact your financial future is crucial. Starting June 25, 2024, the capital gains inclusion rate is set to increase, leading to higher taxes on your investments. Whether…