By Nizam Shajani, CPA, CA, MBA Canada Emergency Rend Subsidy Qualifying organizations can apply directly for the new Canada Emergency Rent Subsidy (CERS) through the Canada Revenue Agency (CRA). This means qualifying organizations can apply for the subsidy without the…
By Nizam Shajani, CPA, CA, MBA This document is extracted from a paper originally written for York University Faculty of Law by Nizam Shajani. It used to be simple to move a dividend from a subsidiary to its parent corporation. …
By Nizam Shajani. CPA, CA, MBA As your parents and grandparents age, you may find yourself in a position where you need to assist them with the management of their financial affairs. Taking on this responsibility requires an understanding of…
By Nizam Shajani, CPA, CA, MBA The perception of tax planning has often been misconceived as a simple choice between dividends and salary from an owner managed business. The decision should consider a number of variances – one such consideration…
By Nizam Shajani, CA, MBA If you incur costs related to employment such as overtime meals, travel to locations different from your employer’s place of business and incur expenses during travel for work – these costs may be deductible. To…
By Nizam Shajani, CA, MBA In a regular year, most employees cannot claim employment related expenses. You cannot deduct the cost of travel to and from work. However, if you incur costs related to employment such as a requirement to…
By Nizam Shajani The 2021 combined personal federal and Alberta tax rates remain consistent with the prior year, although four of the tax brackets have had an increase in the dollar amount to qualify for the selected tax brackets with…
By Nizam Shajani, CA, MBA The prescribed rate of interest is often used within tax planning and income splitting and can be a good tax savings strategy that can last a number of years. While providing your spouse funds to…
By Nizam Shajani CPA, CA, MBA The executor of an estate has a duty to obtain tax advice that goes beyond the simple preparation of tax returns. The failure to engage this advice will leave the executor open to liabilities…
By Nizam Shajani, CA, MBA November 23, 2020 Making a loss on your investments can decrease your tax obligations – however an unclear understanding of losses that are not allowable under the tax act could render you with a loss…