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…
Imagine turning a life insurance policy into a powerful tax-saving tool for your family business. For family-owned enterprises, integrating tax accounting with life insurance can unlock significant financial benefits and provide a robust strategy for long-term success. This powerful combination…
Introduction: The Evolving Landscape of Income Splitting and Tax Planning in Canada Income splitting has been a cornerstone of tax planning for Canadian family-owned businesses for decades. By allocating income among family members, businesses could significantly reduce their overall tax…
Are you looking to optimize your family's tax planning strategies? Understanding the Tax on Split Income (TOSI) and how trusts can be used effectively is crucial for family-owned businesses in Canada. The Tax on Split Income (TOSI) rules were implemented…
Are you looking for a way to optimize your corporate tax strategy and secure long-term financial gains for your family business? Crystallizing gains within a corporation could be the key. This strategic approach can help you maximize tax benefits while…