Canadian-Controlled Private Companies (CCPCs) currently enjoy a low business federal tax rate of 10.5% for profits below $500,000. Profits that exceed $500,000 are taxed at a higher federal rate of 15%. Provincial tax rates are extra. Previously, the Conservative Government planned to reduce the low federal tax rate (10.5%) to 9% over four years. However, … Continue reading How the 2016 Budget Could Affect CCPCs in Canada.
Do you own a small corporation in Canada? Did you know that you could receive tax-free benefits from your corporation? In this video, I will highlight 3 types of tax benefits that you can get – A company car, medical expenses, and pension.
With the end of the year approaching, business owners must make important decisions quickly to reduce their business taxes for the year, one of which is paying out bonuses. Read further to figure out what decision is best for you.
Business owners looking to save tax, and protect their assets should read this. In this article, I will briefly explain how a corporate life insurance policy can be used to reduce taxes and creditor proof assets.
Earn-outs can be an effective way to earn additional money from the sale of your business based on its future financial performance. This article will explain how earn-outs are taxed on the sale of a business in Canada. Anyone who is planning to buy or sell a business should consider reading this.