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Important Dates

By Nizam Shajani, CPA, CA, MBA Please note the following important dates are estimates only.  Please confirm your deadlines directly with your professional advisor. January 15, 2021    – December payroll remittances due January 15, 2021    – Payroll remittances for 2020 calendar year should be paid January 30, 2021    – Prescribed rate loan interest payments must…
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Business Expenses

By Nizam Shajani, CPA, CA, MBA As a rule, a proprietor or corporation can deduct for tax purposes any reasonable expenses that were incurred to earn business income. However, this rule has its exemptions and other consideration that make up much of the 2,810 pages of the Income Tax Act.  However, here are some generalities…
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What the CRA Said

By Nizam Shajani, CPA, CA, MBA Canada Emergency Rend Subsidy Qualifying organizations can apply directly for the new Canada Emergency Rent Subsidy (CERS) through the Canada Revenue Agency (CRA). This means qualifying organizations can apply for the subsidy without the need to claim the assistance through their landlords. Applicants can claim the subsidy retroactively for…
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Obtaining the Grant of Probate

By Nizam Shajani, CPA, CA, MBA Obtaining a grant of probate may be a necessary part of administering the will of an estate.  The authority of the executor (“Personal Representative” in Alberta) appointed under a will arises immediately upon the death of the testator.  However, in many cases it is necessary for the executor to…
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Integrated Tax Planning

By Nizam Shajani, CPA, CA, MBA 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 to equalize the combined corporate and personal…
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