Every family dreams of creating a lasting legacy—one that not only preserves wealth but also upholds values and provides security for future generations. For families with a family-owned business, the stakes are even higher. Without proper planning, what took years…
Imagine building a lifetime of wealth, growing a family business, and creating a legacy—all with the hope that it will provide security and prosperity for generations to come. Personal estate planning is the key to turning that hope into a…
As Canadian family-owned businesses increasingly expand into global markets, tax rules are evolving to keep up with their growth. With the rise of international operations, governments around the world are tightening tax treaties to prevent companies from shifting profits to…
Navigating the complexities of tax laws can feel overwhelming, but what if there was a way to save your family business from unnecessary tax burdens during a restructuring or transfer? Enter the 88(1)(d) bump—a key provision in the Income Tax…
Managing taxes within a family-owned enterprise that operates through multiple corporations can feel like navigating a maze. Each entity within the group may have different levels of income, expenses, and tax liabilities, and without careful planning, you could end up…
When it comes to managing the financial health of a family-owned business, how you fund your operations can have a big impact on your taxes. One area that often gets overlooked is the thin capitalization (thin cap) rules—a set of…
Part IV Tax may not be a term that business owners hear every day, but for family-owned enterprises in Canada, understanding it can make a big difference in managing tax liabilities. If your business holds shares in private corporations or…
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…