Nizam Shajani, Partner, LLM, CPA, CA, TEP, MBA, Author at Shajani CPA

TFSA

January 11, 2022
Nizam Shajani, Partner, LLM, CPA, CA, TEP, MBA
Tax Planning

Tax free savings accounts were introduced in 2009 and allowed contributions for each individual over the age of 18 of: $5,000 annually for years 2009 through 2012; $5,500 for years 2013 and 2014; $10,000 for year 2015; $5,500 for year…

January 10, 2022
Nizam Shajani, Partner, LLM, CPA, CA, TEP, MBA
Tax Planning

Contributions to RRSP accounts made before February 28th can be considered for tax deductions to an individual’s personal income for the previous year or current year. This deadline often conjures up thoughts on retirement planning along with investing in pension…

January 9, 2022
Nizam Shajani, Partner, LLM, CPA, CA, TEP, MBA
Tax Planning

Registered education savings plans managed effectively will allow for a free $7,200 Grant (Canada Education Savings Grant (CESG)) to be used for education purposes towards a child’s education plus investments that can grow tax deferred. The CESG is based on…

January 9, 2022
Nizam Shajani, Partner, LLM, CPA, CA, TEP, MBA
Tax Planning

An RESP is an education savings account that is registered with the Government of Canada for parents (grandparents, other family members and friends) who want to save for a child’s education after high school. The plan can be opened for…

January 7, 2022
Nizam Shajani, Partner, LLM, CPA, CA, TEP, MBA
Tax Planning

TOSI or tax on split income must be considered when receiving certain types of income from a corporation. The 2018 amendments to section 120.4 of the Canadian Income Tax Act have brought to the forefront the question of if income…

January 6, 2022
Nizam Shajani, Partner, LLM, CPA, CA, TEP, MBA
Tax Planning

Not all dividends are created equal. Dividends from a small or medium sized corporation have varying tax implications and it is important to note not all dividends are the same. It should also be noted that budget changes over the…

January 4, 2022
Nizam Shajani, Partner, LLM, CPA, CA, TEP, MBA
Tax Planning

From time to time the government imposes filing requirements on certain industries. The T5018 statement of contract payments is one such requirement placed on the construction and related industries. If you are an individual, trust, partnership or corporation involved in…

January 3, 2022
Nizam Shajani, Partner, LLM, CPA, CA, TEP, MBA
Tax Planning

Commissioned salespeople are often used to mitigate costs and incentives sales within an organization. While considered self employed, if your organization utilizes commissioned salespeople, your organization should be completing a T4A for them. A T4A slip is an information return…

January 2, 2022
Nizam Shajani, Partner, LLM, CPA, CA, TEP, MBA
Tax Planning

Oftentimes, the best investment is in yourself. And the best stocks to invest in is your own corporation. If you have already figured out how to invest in your own corporation and now need to paper that dividend payment –…

December 31, 2021
Nizam Shajani, Partner, LLM, CPA, CA, TEP, MBA
Tax Planning

Please note the following important dates are estimates only. Please confirm your deadlines directly with your professional advisor. January 15, 2022 - December payroll remittances due January 15, 2022 - Payroll remittances for 2021 calendar year should be paid January…

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Tax and business tips from Shajani's experts, specifically for Canadian business owners. By subscribing, you agree to our privacy policy.

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Nizam Shajani, Partner, LLM, CPA, CA, TEP, MBA

TFSA

Tax Planning with RRSPs

RESP 21 Year Plan

RESPs

TOSI

Eligible vs. Ordinary Dividends

T5018 Statement of Contract Payments

T4A – Statement of Pension, Retirement, Annuity and Other Income

File Your T5 on Time to Maximize Your Return on Investment

Important Dates

Shajani Newsletter

Shajani Blog

Navigating the Trump Effect: Strategic Tax and Financial Insights for Canadian Family-Owned Businesses Amid U.S. Election Shifts

Important Dates

Mastering Financial Literacy with Shajani CPA’s Online Resources

Best Credit Cards for Travel Points 2024/2025: A Guide for Canadian Family Enterprises