The dividend was paid. The tax return was filed. The deal closed. Everyone moved on. Five years later, a CRA reassessment arrived—and with it, a tax bill no one saw coming. This is how section 55 usually enters the story…
Most family businesses don’t break apart because the business fails. They break apart because people’s lives change. Siblings grow in different directions. Spouses separate. What once felt like a shared vision becomes an uncomfortable stalemate—yet the business itself remains valuable,…
Income Splitting After TOSI — What Every Family-Owned Enterprise Must Understand For decades, income splitting was one of the most powerful planning tools available to Canadian family-owned businesses. When structured properly, allocating dividends, capital gains, or trust income among family…
A family builds a successful business over decades. The company earns steady profits, invests surplus cash prudently, and pays dividends to support the founders’ retirement while preparing the next generation to take over. Everything appears to be working—until a routine…
For many Canadians, the sale of a business is a retirement plan. For others, it is a succession plan. And for families with family-owned enterprises, it is often the single largest tax event of their lifetime. In 2026, one number…
Most family-owned businesses in Canada are built quietly. A founder starts with skill and determination, reinvests year after year, and one day realizes that the business is worth far more than anything originally imagined. The problem is that the tax…
When Should You Take CPP? The Question Everyone Asks, and Almost Everyone Oversimplifies It usually starts with a casual question. “Should I take CPP at 60, 65, or 70?” A friend offers advice. A headline offers certainty. A calculator gives…
As a taxpayer in Canada, your relationship with the Canada Revenue Agency (CRA) involves more than fulfilling your obligation to remit taxes. Many taxpayers are unaware that they are entitled to a robust set of rights designed to protect their…
At some point, every successful family business reaches a crossroads. What once felt agile and entrepreneurial now feels heavy—too many corporations, overlapping roles, duplicated costs, and decisions that take longer than they should. The business is still profitable, but the…
Employer Pension Plans—A Foundation for Canadian Retirement Imagine this: Emily, a 42-year-old manager at a mid-sized company, has been diligently saving for retirement. She contributes to her employer’s pension plan but often wonders, "Is this enough? Should I be doing…