The Registered Education Savings Plan (RESP) is a government registered savings plan that helps individuals to save for a child’s post-secondary education in Canada. Simply put, the Government of [...]
Becoming a parent for the first time is a wonderful and exciting event that will forever change you, though it may be one of the greatest moments in your life it doesn’t necessarily mean it’s [...]
One of the many benefits of incorporating your business is having the option to pay yourself in dividends. It can be a simple and cost effective way for business owners to withdraw money from [...]
What is Tax on Split Income (TOSI)? Tax on split income (TOSI) rules apply where a family member has received income for an attempt to reduce and split taxes. The TOSI rules apply to individuals [...]
ISSUE One of the benefits to incorporate your business is access to a shareholder loan (SHL). The Income Tax Act (ITA) and the Canada Revenue Agency (CRA) have rules and policies on how the SHL [...]
Small Business Venture Capital Tax Credit Review. Everything you need to know the Small Business Venture Capital Tax Credit.
It has been a challenging few weeks for all of us, and each day delivers major updates and further announcements, sometimes by the hour. The Government of Canada is taking significant and [...]
The RRSP deadline is approaching (Monday, March 2, 2020) and 2019 brings an additional $6,000 of contribution room for Tax-Free Savings Accounts, bringing the cumulative maximum to $63,500. [...]
The taxation of cryptocurrency has been a subject of much misinformation. Make no mistake, the CRA will get their piece of the crypto-pie. If you have purchased, or will be purchasing [...]
The CRA and the BC Employment Standards Act have strict rules to separate contractors from employees. Since contractors are seen as operating their own business, hiring a contractor is more like [...]
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