September 2020 - Shajani CPA - Chartered Professional Accountants & Advisors

Tax Installments Overview

September 29, 2020
Nizam Shajani, LL.M, CPA, CA, TEP, MBA Tax & Assurance Partner

Tax Installments By Eeva Harrop, CPA, CA, TEP, MSc. September 29, 2020 With Covid-19, individual tax returns are now due September 30, 2020. This includes both filing the tax return, paying any tax due and paying any instalments that were due between March 18 and August 31, 2020. The requirement to pay instalments can…

View Post

Related and Associated Corporations

September 28, 2020
Nizam Shajani, LL.M, CPA, CA, TEP, MBA Tax & Assurance Partner

Related and Associated Corporations By Eeva Harrop, CPA, CA, TEP, MSc. September 28, 2020 Assessing whether or not corporations are related and associated is important as this can result in various tax consequences to consider such as how to share the small business deduction on the T2. The purpose of this memo is to…

View Post

Corporate and Personal Tax Summary Planning

September 25, 2020
Nizam Shajani, LL.M, CPA, CA, TEP, MBA Tax & Assurance Partner

Corporate and Personal Tax Summary Planning By Eeva Harrop, CPA, CA, TEP, MSc. September 25, 2020 For many individual taxpayers, tax planning means organizing all of your paperwork at the end of the year and filing a tax return before the filing deadline. This method works but often results in anxiety and tax surprises –…

View Post

What Banks are Looking for in Your Financial Statements

September 21, 2020
Nizam Shajani, LL.M, CPA, CA, TEP, MBA Tax & Assurance Partner

What Banks are Looking for in Your Financial Statements By Fahad Suleman, CPA September 21, 2020 A bank usually requires a set of financial statements to calculate the amount of credit that can be provided to a business or to evaluate solvency of a business to ensure the current credit provided will be paid…

View Post

Integrated Tax Planning

September 18, 2020
Nizam Shajani, LL.M, CPA, CA, TEP, MBA Tax & Assurance Partner

Integrated Tax Planning By Nizam Shajani, CPA, CA, MBA September 18, 2020 The perception of tax planning has often been misconceived as a simple choice between dividends and salary from an owner managed business. The decision should consider a number of variances – one such consideration being integration. The Canadian tax system is designed…

View Post

Calculating Financial Ratios in Your Financial Statements

September 14, 2020
Nizam Shajani, LL.M, CPA, CA, TEP, MBA Tax & Assurance Partner

Calculating Financial Ratios in Your Financial Statements By Fahad Suleman, CPA September 14, 2020 Financial ratios are used to make comparisons between different financial aspects of a business’s performance. These ratios can be compared with the industry standard to seek areas of strength of a business and areas where there is room for improvement…

View Post

Tax Considerations for Attracting & Retaining Key Employees – Stock Options

September 11, 2020
Nizam Shajani, LL.M, CPA, CA, TEP, MBA Tax & Assurance Partner

Tax Considerations for Attracting & Retaining Key Employees – Stock Options By Nizam Shajani, CPA, CA, MBA September 11, 2020 As governments consider a revision to stock option plans – as of today, this is still a viable option to attracting and retaining key employees. In an environment of low cash flow, attracting and retaining…

View Post

A Good Looking Set of Financial Statements:

September 7, 2020
Nizam Shajani, LL.M, CPA, CA, TEP, MBA Tax & Assurance Partner

A Good Looking Set of Financial Statements: By Fahad Suleman, CPA September 7, 2020 A good looking set of financial statements of a business are a set of financial documents that provide a snapshot of a business’s financial position and performance at a certain point in time. These statements can provide overview of financial activities…