If you have several businesses and are considering consolidating them into one, an amalgamation should be considered. The combination of businesses into one entity may be done to simplify a structure, consolidate losses of a group, reorganize the share structure,…
The Canada Workers Benefit is refundable tax credit that assists low-income workers as a work incentive. Who Receive the Benefit? To be eligible for the CWB, you must meet all of the following conditions; You were a resident of Canada…
The Canada Child Benefit is a sizeable amount for those who qualify. The benefit is a tax-free amount paid to families with children under the age of 18. If you have two young children and qualify based on your income…
Confirm a Representative Using My Account or My Business Account This tax season, there's a new way to confirm authorized representatives using My Account or My Business Account. Whether you're an individual or a business, this easy, two-step digital process will help you…
Please note the following important dates are estimates only. Please confirm your deadlines directly with your professional advisor. March 15, 2022 - February payroll remittances due March 30, 2022 - Trust filings due March 31, 2022 - Fiscal year…
The following is taken from the CPA Series on Financial Literacy Acquire tax smarts Contrary to popular belief, the Canada Revenue Agency, or the CRA, does not create tax law, nor are they the final and absolute word when…
The MacDonald case has left its mark on the risks associated with a pipeline transaction and the interpretation of the text of section 84(2) of the Act. Section 84(2) S 84(2) of the Act discusses the dividend treatment of funds…
A personal directive is a document that provides instructions for the personal care and/or health care decisions by the person who makes the directive. The instructions in this document are often referred to as a living will and appoint a…
Section 86 allows for the exchange of shares within a corporation. Corporations are permitted to exchange all of the class of shares for an entirely different class of chares through this section without incurring a tax liability for the corporation…
Caring for someone with a physical or mental impairment who is dependent on you is challenging. The caregiver credit provides some support if you find yourself in this situation. Who Can Make the Claim? This claim is for individuals who…