In the intricate world of tax planning and corporate organization, I've observed firsthand the profound influence strategic corporate organizations can wield over businesses' financial health and tax efficiency, particularly within family-owned enterprises in Canada. Today, I invite you to explore…
Shajani CPA is not just a CPA firm; it's a catalyst for your business's growth and success. With a profound purpose to ignite the potential within enterprises, Shajani CPA infuses a spark of professional excellence into your business journey. For…
Selling a sole proprietorship encompasses not just a business transaction, but a series of strategic tax planning decisions that can significantly impact your financial future. This detailed guide offers insights into how to navigate the complexities of selling your business,…
Introduction: Preparing for the 2024 Tax Changes in Canada The 2024 federal budget has introduced a pivotal shift for taxpayers across Canada with the proposal to increase the capital gains inclusion rate from 50% to 66.67%. This significant adjustment prompts…
Goodwill represents a crucial intangible asset that often arises during the acquisition of one corporation by another. This asset reflects the premium paid over the fair market value of the net assets (tangible and intangible) acquired. It captures elements that…
As family-owned enterprises in Canada work to navigate the complexities of the Goods and Services Tax (GST) and Harmonized Sales Tax (HST), understanding the intricacies of these taxes is crucial. In this post, we will delve into the current GST/HST…
The Canada Revenue Agency offers eligible small businesses the option to utilize the Quick Method for calculating GST/HST remittances, a streamlined alternative to the standard GST/HST reporting methodology. This method simplifies the calculation process and minimizes the documentation requirements. Under…
As a taxpayer domiciled within the jurisdiction of Canada, it is incumbent upon you to recognize that your statutory entitlements transcend merely the obligation to remit taxes. Instituted in the year 2007, the Taxpayer Bill of Rights serves to augment…
The movement of dividends from a subsidiary corporation to its parent within the Canadian corporate structure often carries the assumption of being tax-free. This presumption, while grounded in the provisions of subsections 112(1) and 84(3) of the Income Tax Act…
