CRA will issue T4As to COVID-19 CERB and CRB recipients Canadians will begin receiving T4A slips from the CRA for these benefits to support their tax filing. The T4A is virtually identical to the T4 slips Canadians are used to receiving from…
Surplus stripping is back in the news with recent changes to legislation. This makes it imperative to understand past court decisions on this matter. Surplus stripping allows a taxpayer to receive funds that that have been earned by a corporation…
Generally, probate fees are not be a planning priority in Alberta because fees are nominal (ranging from $25 to $400). However, if an individual who lives in Alberta and has property in another province (or outside of Canada) or is…
As we gear up for back to school for the little ones, it is important to prepare for the years after graduation. If you anticipate your children will attend post-secondary education, planning for this costly period should be done years…
There is a window of opportunity for tax savings when transferring a business to a corporation owned by your child or grandchild and being allowed to claim the lifetime capital gains exemption before amendments are proposed to Bill C-208. Bill…
Prior to June 29, 2021, when a small business owner sells the shares of their company to a corporation owned by their children or grandchildren, the small business owner would be taxed at the higher dividend rate. However, if that…
The Alberta Jobs Now program is the largest jobs and training program in Alberta’s history that could provide your prospective employer a 25% to 37.5% discount when they hire you. If you are unemployed or working fewer than 30 hours…
The Alberta Jobs Now program is the largest jobs and training program in Alberta’s history that could provide your organization with a subsidy of 25% to 37.5% of your new employee’s salary. Private sector businesses and non-profit organizations can apply…
A strategy for investing may include using pre-tax dollars to purchase an investment. Investing in real estate in your corporation is cost effective and allows you to purchase a larger property when considering the after-tax investable dollars. Generally, $100,000 earned…
Please note the following important dates are estimates only. Please confirm your deadlines directly with your professional advisor. June 15, 2021 – May payroll remittances due June 15, 2021 – Personal income tax returns including a Sole Proprietorship due June…