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…
Are you looking for a way to optimize your corporate tax strategy and secure long-term financial gains for your family business? Crystallizing gains within a corporation could be the key. This strategic approach can help you maximize tax benefits while…
Family-owned enterprises in Canada are at a pivotal crossroads. For those aiming to scale and achieve significant growth, strategic guidance and expert advisory services are not just beneficial—they are essential. The unique challenges and opportunities these businesses face require specialized…
Government Moves to Facilitate Homeowners Adding Rental Suites Putting home ownership back within reach and supporting Canadian homeowners The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, announced new measures in Budget 2024 to support Canadian homeowners in…
Capital gains crystallization is a financial strategy where individuals or businesses intentionally sell assets, like stocks or property, to realize their gains for tax purposes. By doing this, they "lock in" their gains at the current tax rate, potentially saving…