Navigating the intricate world of tax law often feels like piecing together a complex puzzle. Among the myriad elements, the residency of a trust stands out as a cornerstone for tax planning and compliance. Whether you are a family-owned business…
In the case of Stubart Investments Ltd. v. The Queen, the Supreme Court of Canada decided that a company could legally reduce its taxes by transferring profits to a sister company with past financial losses. This was because the tax…
In the case of Loblaw Financial Holdings Inc. v. Canada (2020), the Federal Court of Appeal dealt with whether income earned by Loblaw's Barbados-based subsidiary, Glenhuron Bank, should be taxed in Canada. The government argued that this income should be…
Effective tax loss planning is a game-changer for family-owned enterprises. It’s not just about reducing your tax bill; it’s about ensuring the long-term financial health and sustainability of your business. In today’s competitive landscape, leveraging tax losses can mean the…
Debt forgiveness can be a lifeline for businesses, providing essential financial relief during challenging times. For family-owned enterprises, understanding the intricacies of debt forgiveness isn't just beneficial—it's crucial. Properly navigating these rules can mean the difference between sustaining your business…
Business takeover planning is not just a strategy—it's a pathway to safeguarding your family's legacy, ensuring operational continuity, and achieving financial prosperity. In the world of family-owned enterprises, the legacy you build today can shape the future for generations to…
Selling a business is more than just a transaction; it's a pivotal moment that can shape your financial future and legacy. Understanding the tax implications involved is crucial to maximizing your returns and ensuring a smooth transition. Whether you're a…
Are you considering buying or selling a business? Understanding whether to pursue an asset purchase or a share purchase can be the key to maximizing your financial gains and minimizing your risks. This essential decision affects everything from tax liabilities…
Please note the following important dates are estimates only. Please confirm your deadlines directly with your professional advisor. August 15, 2023 - The July payroll for monthly remittances is due. August 31, 2024 - The fiscal year ends on May…
Tax reorganization is a pivotal process for businesses seeking to streamline operations, improve efficiency, or prepare for major transitions like mergers, acquisitions, or succession. For 40 years, Shajani CPA has been at the forefront of providing expert tax reorganization services.…