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)…
For many Canadian families, the largest asset they will ever own is their home. And when that home is sold, the most common question I hear is: “It’s tax-free, right?” Often, yes. But not automatically. And not always fully. The…
A family builds a successful business over decades. The company earns steady profits, invests surplus cash prudently, and pays dividends to support the founders’ retirement while preparing the next generation to take over. Everything appears to be working—until a routine…
Most family-owned businesses in Canada are built quietly. A founder starts with skill and determination, reinvests year after year, and one day realizes that the business is worth far more than anything originally imagined. The problem is that the tax…
For months, Canadians have heard warnings about rising capital gains taxes. Headlines suggested dramatic increases. Advisors debated planning windows. Investors rushed to crystallize gains. Family businesses questioned succession timelines. So what actually changed in 2026? If you own investments, rental…
As a taxpayer in Canada, your relationship with the Canada Revenue Agency (CRA) involves more than fulfilling your obligation to remit taxes. Many taxpayers are unaware that they are entitled to a robust set of rights designed to protect their…
Understanding the Role of Settlors in Modern Trusts Imagine a family trust unraveling due to one overlooked detail. A settlor, eager to safeguard family wealth, established a trust years ago without anticipating today’s stringent reporting requirements. As regulations changed, the…
Imagine standing in a vast library filled with endless shelves of books, each one holding rules, exceptions, and strategies for navigating Canada’s tax system. Overwhelming? Absolutely. But for family-owned enterprises, accountants, and legal professionals, mastering this intricate web of legislation—the…
Not all dividends are created equal, and for owner-managers of small and medium-sized corporations, this distinction can make a big difference to your bottom line. Imagine this: you’ve worked hard to grow your business, and now it’s time to decide…