As a Chartered Professional Accountant in Canada, I've worked with numerous businesses across various sectors. One common thread in all successful businesses is the reliance on and understanding of their financial statements. These statements are not just numbers on paper;…
As a Chartered Professional Accountant in Canada, I often encounter clients who are keen to understand the intricacies of their financial statements. Among the most crucial aspects of financial literacy for any business owner or manager is understanding how the…
In an economic climate where inflationary pressures are already squeezing margins, Toronto's proposed 10.5% property tax increase adds another layer of complexity for high-net-worth families and family-owned enterprises. Let's unpack the ramifications of this fiscal move and explore strategies to…
The Voluntary Disclosure program (VDP) is a program offered by the Canada Revenue Agency (CRA) that allows taxpayer to come forward and correct errors or omissions on their tax return or to disclose any previously unreported income without facing penalties…
The MacDonald case has left its mark on the risks associated with a pipeline transaction and the interpretation of the text of section 84(2) of the Act. Section 84(2) S 84(2) of the Act discusses the dividend treatment of funds…
Introduction: Since the 2018 federal budget, traditional tax planning for businesses utilizing the small business deduction (SBD) has encountered new complexities, especially when it comes to holding investments within a corporation. However, savvy strategies remain available to navigate these changes…
Introduction: As a business owner, it’s crucial to strategize how you compensate yourself. This involves more than just deciding on a salary; it’s about crafting a holistic approach to minimize taxes, maximize after-tax cash, budget effectively, and plan comprehensively for…
Not all dividends are created equal. Dividends from a small or medium-sized corporation have varying tax implications and it is important to note not all dividends are the same. It should also be noted that budget changes over the past…
Understanding the Power of Corporate Reorganization As an entrepreneur of a family-owned enterprise in Canada, navigating the complex world of taxation can often seem daunting. However, with strategic planning, particularly in corporate reorganization, significant tax savings can be achieved. This…
In today’s competitive business environment, staying informed about how your company stacks up against others in your industry is more than just a matter of curiosity—it’s a crucial aspect of strategic business management. As experienced CPAs, we at Shajani CPA…