Imagine ensuring your family business thrives for generations, no matter what the future holds. That's the power of effective estate planning, a vital process for any family-owned enterprise. At the heart of this planning lies life insurance—a critical tool that…
Are you a Canadian resident with assets abroad? If so, the intricacies of cross-border estate planning should be at the forefront of your financial strategy. Estate planning is essential for safeguarding your wealth, particularly for family-owned enterprises with foreign holdings.…
Understanding the intricacies of trust taxation can unlock significant benefits for family-owned enterprises, transforming how wealth is preserved and passed on to future generations. For families managing complex business structures and substantial assets, the nuances of trust taxation are not…
Unlock the secrets to mastering tax strategies and saving big during business acquisitions! Acquisition of Control (AOC) isn't just a tax term—it's the key to unlocking potential tax savings and ensuring compliance during significant ownership changes. For family-owned enterprises, understanding…
In the world of business, financial statements are the backbone of financial transparency and decision-making. Understanding the differences between compilations, reviews, and audits is crucial for any business owner. Shajani CPA, a firm with a 40-year legacy and a ten-year…
Discover how you can preserve your family's wealth and secure a legacy for future generations with testamentary spouse or common-law partner trusts. These specialized trusts are essential for family-owned businesses in Canada, offering a strategic way to defer taxes and…
Canada Growth Fund’s Fourth Investment Announcement Deputy Prime Minister welcomes the Canada Growth Fund’s fourth investment On June 11, 2024, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, announced the Canada Growth Fund’s fourth investment, marking its…
Tax Obligations for Ridesharing and Delivery Service Drivers in Canada Revised – Tax obligations for commercial ridesharing and delivery service The Canada Revenue Agency (CRA) has released a revised guide on tax obligations for individuals involved in commercial ridesharing and…
As Canada gears up for significant tax changes, understanding how these adjustments will impact your financial future is crucial. Starting June 25, 2024, the capital gains inclusion rate is set to increase, leading to higher taxes on your investments. Whether…
Imagine turning a life insurance policy into a powerful tax-saving tool for your family business. For family-owned enterprises, integrating tax accounting with life insurance can unlock significant financial benefits and provide a robust strategy for long-term success. This powerful combination…