Imagine a world where a single decision made in Washington, D.C., could ripple through the Canadian economy, impacting everything from the prices of goods to the profitability of family-owned businesses. This is the reality today. The close relationship between the…
Imagine a life where money supports your dreams rather than limits them. For families with family-owned businesses, the financial landscape is unique—a blend of personal aspirations and business ambitions that requires careful balance. With the right approach, this balance can…
As we progress through October, the economic landscape remains dynamic, shaped by significant cross-border shifts following the U.S. election and local fiscal trends that Canadian family-owned enterprises must navigate. From U.S. tax policy adjustments to currency pressures and evolving trade…
For family-owned businesses, data holds immense potential. Yet, raw numbers alone are rarely enough to drive action or convey insights. The true power of data lies in storytelling—the art of transforming complex financial information into clear, engaging narratives that speak…
Canada’s Extraordinary Revenue Acceleration Loan: A Cautionary Tale of Overreach and Economic Risk https://www.canada.ca/en/department-finance/news/2024/10/statement-by-the-deputy-prime-minister-and-minister-of-finance-on-the-extraordinary-revenue-acceleration-loan-mechanism-and-russian-sovereign-assets.html In a recent announcement, the Deputy Prime Minister and Minister of Finance outlined the Canadian government’s new Extraordinary Revenue Acceleration Loan Mechanism—a financial strategy designed to…
Enhancing CRA Services https://www.canada.ca/en/revenue-agency/news/2024/09/the-cra-invites-taxpayers-to-share-ideas-for-service-improvements.html The CRA’s Initiative: A Brief Overview On September 2024, the CRA issued a press release inviting taxpayers, tax professionals, and businesses to share their ideas on improving its services. This initiative underscores the CRA’s commitment to…
The Excessive Interest and Financing Expense Limitation (EIFEL) rules, which were enacted in June 2024 and are effective for tax years beginning on or after October 1, 2023, introduce important new constraints on the deductibility of interest and financing expenses…
As we enter the final quarter of 2024, the financial markets are navigating a landscape filled with both opportunities and risks. The global economy shows resilience, yet certain regions, including Canada, face mounting challenges. For businesses and investors in Alberta…
Dealing with the tax obligations of a loved one who has passed away can feel overwhelming, but it’s a crucial step in settling their affairs. Filing the final tax return for a deceased person ensures that their financial obligations are…
The upcoming inter-generational wealth transfer, often called "The Great Wealth Transfer," is set to be one of the most transformative financial events in Canadian history. Imagine trillions of dollars changing hands, reshaping the futures of countless families and impacting the…