As a Chartered Professional Accountant in Canada, I often encounter clients who are keen to understand the intricacies of their financial statements. Among the most crucial aspects of financial literacy for any business owner or manager is understanding how the…
For many Canadians, employer pension plans are a cornerstone of retirement planning. However, the complexities of how these plans work, especially in comparison to Registered Retirement Savings Plans (RRSPs) and their tax implications, can be perplexing. In this blog, we'll…
As a Chartered Professional Accountant and Trust Estate Practitioner in Canada, I've encountered numerous clients who are eager to secure their financial future but are unsure about how to navigate the complex landscape of retirement savings and taxes. The key…
Estate planning is an essential process that involves making plans for the transfer of your estate after death. It's a crucial step in managing your financial future and ensuring that your assets are distributed according to your wishes. In this…
As a Chartered Professional Accountant with a Trust and Estate Practitioner (TEP) designation, and advanced legal qualifications in tax law (LL.M) and law (LL.B), I have a multifaceted perspective on estate planning. One critical aspect often overlooked is the tax…
For high-net-worth individuals and families running family-owned enterprises, managing wealth and legacy involves not just strategic business decisions but also astute compliance with evolving tax regulations. The recent changes in Canada's trust reporting rules necessitate a proactive approach to ensure…
As a Chartered Professional Accountant with a Trust and Estate Practitioner (TEP) designation, an LL.M in Tax Law, and an LL.B, my expertise extends beyond traditional financial advising. At Shajani CPA, we recognize the critical importance of comprehensive life planning,…
Canada's 2024 Automobile Deduction Limits and Expense Benefit Rates for Businesses Announced Government of Canada Announces 2024 Automobile Deduction Limits and Expense Benefit Rates for Businesses 2023-12-18 15:15 The Department of Finance Canada has released the updated automobile income tax…
Canada Revenue Agency Extends Deadline for Underused Housing Tax Returns The Canada Revenue Agency (CRA) has announced a significant extension for homeowners to file their Underused Housing Tax (UHT) returns. In a recent news release dated October 31, 2023, the…
Introduction: Navigating the New Era of Trust Reporting in Canada In the constantly evolving world of financial regulations and tax laws, 2024 marks a significant turning point for trusts in Canada. As we step into this new era, the landscape…