Passing a family business from one generation to the next is a proud milestone, but it’s also a complex process, especially when it comes to taxes. The good news is that recent changes to Canada’s tax rules offer new opportunities…
Imagine a business structure that not only helps you transition ownership smoothly but also ensures your company’s values and legacy are preserved for generations. This is the promise of Employee Ownership Trusts (EOTs), a groundbreaking option introduced in Canada’s Budget…
Please note the following important dates are estimates only. Please confirm your deadlines directly with your professional advisor. October 15, 2024 - The September payroll for monthly remittances is due. October 31, 2024 - The fiscal year ends on July…
Dealing with the Canada Revenue Agency (CRA) and staying abreast of policies from the Department of Finance are critical components of financial management and compliance for individuals and businesses. At Shajani CPA, a firm with 40 years of experience, legal…
Intergenerational wealth transfer is one of the most critical aspects of maintaining family-owned enterprises, particularly in Canada. As family businesses pass from one generation to the next, the successful transfer of wealth, assets, and leadership becomes essential to preserving not…
As a family-owned business, passing down more than just a company is essential—you must also instill strong financial literacy values in your children from a young age. Teaching children the value of money, budgeting, saving, and investing is critical to…
Retirement planning is a crucial aspect of financial security, and for family-owned enterprises, it carries even greater significance. Unlike traditional employees, family business owners must balance their personal retirement goals with the long-term sustainability of their business. A comprehensive retirement…
As we enter the final quarter of 2024, the financial markets are navigating a landscape filled with both opportunities and risks. The global economy shows resilience, yet certain regions, including Canada, face mounting challenges. For businesses and investors in Alberta…
In today's global economy, families with family-owned enterprises face an increasingly complex regulatory environment, where economic crime prevention is a key focus. The 2024 STEP report "Tackling Economic Crime" provides a comprehensive analysis of existing measures designed to combat financial…
Wealth management is essential for family-owned enterprises, where personal and business finances often intertwine, and decisions made today can impact the family’s financial future for generations. Effective wealth management involves more than just growing assets; it includes tax planning, legal…