Tax Rules, Planning Strategies and CRA Requirements A tax-planning guide for families with family-owned enterprises By Nizam Shajani, CPA, CA, LL.M (Tax), LL.B, MBA, TEP Originally published September 1, 2025 | Substantively updated September 8, 2026 Winding up a corporation…
Canada’s recovery is real—but so is the next trade shock. September’s Family Enterprise Economic Update examines what the latest Canadian and U.S. data mean for business-owning families, with a focus on tariffs, cash flow, investment and family wealth. This edition…
Why SR&ED Matters for Canadian Family Businesses Imagine you're sitting at the kitchen table after a long day, reviewing your company’s year-end financials. Your family business—whether it is a food processor in Alberta, a tool-and-die manufacturer in Ontario, an agricultural…
Post-secondary tuition is expensive. For many families, a common question arises at filing time: “My child didn’t use all of their tuition credits — can we transfer them?” The answer is yes — but only within strict statutory limits. Tuition…
When you receive a large payment from an employer, it often feels like a windfall. A signing bonus to join a new firm. A severance package upon termination. A lump-sum payout after years of service. Then you see the tax…
Relocating for a new job, business opportunity, or post-secondary education can be expensive. Truck rentals. Real estate commissions. Temporary lodging. Travel costs. Many Canadians assume: “If I moved for work, I can deduct everything.” Not quite. The moving expense deduction…
It usually starts innocently. A side business takes off. A consulting engagement turns into steady work. A family opportunity presents itself, and someone says, “Let’s just start and see where it goes.” There is no incorporation, no formal structure, no…
If your corporation provides you with a vehicle, you may assume: “It’s a business expense.” For the corporation, that may be true. For you personally, it is not that simple. When a corporation makes an automobile available to an employee…
If you own a private corporation, this question arises every year: “Should I pay myself salary or dividends?” It sounds simple. It is not. The answer affects: Personal tax Corporate tax CPP contributions RRSP room Cash flow Long-term retirement planning…
Markets fluctuate. Portfolios rise — and sometimes fall. When investments decline and you realize a loss, the immediate reaction is often frustration. But properly understood, capital losses are not merely setbacks. They are tax assets. Under Income Tax Act (ITA)…