As we approach another tax filing season, it's crucial to stay informed about the recent changes in tax legislation, especially for families and family-owned enterprises in Canada. Tax laws are constantly evolving, making it challenging for the average person to…
Introduction The Supreme Court of Canada's ruling in Deans Knight Income Corporation v. Her Majesty the Queen represents a landmark decision in the context of Canadian tax law, particularly relevant to high-net-worth individuals and family-owned enterprises. This decision meticulously analyzes…
Why Combine Your Businesses into One If you're managing multiple family businesses, combining them into one company could simplify your life. This isn't just about making your business easier to manage—it's also about saving money on taxes, merging any losses…
Introduction: Mastering Tax Strategy for Your Move Abroad As high-net-worth families consider expanding their horizons beyond Canada's borders, the journey brings with it a complex tapestry of tax considerations. Whether motivated by business opportunities, lifestyle changes, or retirement plans, the…
For entrepreneurs orchestrating multiple ventures, streamlining operations through amalgamation is a strategic move. This fusion of enterprises into a singular entity is often executed to refine corporate structures, merge losses, restructure shares, and leverage tax efficiencies. Insightful planning can convert…
Buying your first home is an exciting milestone. While some of the financial aspects could be daunting, there is a simple credit that should be considered when filing your personal tax this year. Qualifying for the Credit The following conditions…
As entrepreneurs of family-owned enterprises in Canada, it is imperative to stay abreast of evolving tax regulations to optimize your financial strategies and maintain compliance. The introduction of the Canadian Dental Care Plan marks a significant shift in tax reporting…
As we step into 2024, businesses across industries are faced with the challenge of charting a course through an increasingly complex and dynamic landscape. The beginning of the year is the perfect time for strategic planning, and at Shajani CPA,…
As a Canadian Chartered Professional Accountant (CPA), I often come across family-owned enterprises seeking to understand the health of their businesses. A crucial component of this understanding lies in the statement of income. But what makes a statement of income…
In the world of business, financial statements are like the vital signs of your company's health. But let's be honest, not everyone finds spreadsheets and numbers as fascinating as we do. This is where the magic of Narrative Financial Analysis…