Business & Corporate Tax Archives

Hiring Family Members in a Small Business in Canada: What You Need to Know

Hiring family members in a Canadian small business can be a smart financial and operational decision. Many entrepreneurs involve spouses, children, or relatives in their business to help manage operations, bookkeeping, administration, marketing, or customer service. However, the Canada Revenue Agency (CRA) has strict rules regarding payroll, compensation, and tax reporting when employing related individuals.

Corporate Tax Return Preparation in Mississauga: A Complete Guide for Businesses

Running a business in Mississauga comes with many responsibilities, and one of the most important is staying compliant with corporate tax obligations. Corporate tax return preparation is not just about filing numbers – it’s about accuracy, strategy, and ensuring your business remains financially healthy. With evolving Canadian tax laws and strict compliance requirements, working with … Continue reading

Sale of Shares of a Private Corporation: Tax Treatment in Canada

Selling shares of a private corporation is a significant financial event for business owners in Canada. Whether you are planning your retirement or restructuring your business, understanding the tax treatment of such transactions is crucial. The tax implications can vary depending on factors such as ownership structure, eligibility for exemptions, and the nature of the … Continue reading

Personal Services Business Risk Checklist (Canada)

If you operate through a corporation as an independent contractor in Canada, there’s a critical tax concept you simply can’t ignore – the Personal Services Business (PSB) classification. Being categorized as a PSB by the Canada Revenue Agency (CRA) can significantly increase your tax burden and limit your deductions.

Corporate Tax Returns for IT Consultants: Avoiding the PSB Trap (2026)

You’ve finally done it. You left the 9-to-5, incorporated your business, and landed a high-paying contract with a major bank. You’re billing $150 an hour, and you’re expecting to pay the cozy 12.2% small business tax rate on your profits.

Section 216 Election Late Filing: What Non-Residents Need to Know

Non-residents who earn rental income from Canadian real estate must comply with specific tax rules under the Income Tax Act. One of the most beneficial provisions available to such taxpayers is the Section 216 election, which allows non-residents to file a special tax return and pay tax only on net rental income instead of gross … Continue reading

Certificate of Compliance for Canadian Real Estate: What Property Sellers Need to Know

Selling real estate in Canada as a non-resident comes with additional tax responsibilities. One of the most important requirements is obtaining a Certificate of Compliance from the Canada Revenue Agency (CRA). This document ensures that the appropriate tax on the sale of Canada real estate property is reported and paid.

T4 vs. T5: The Definitive Compensation Guide for Canadian Business Owners (2026)

I saw a client last week, let’s call him Dave, who runs a successful IT consulting firm in Mississauga. Dave had been “drawing” money from his business account all year whenever he needed to pay his mortgage or buy groceries.

Corporate RRSP Strategies for Canadian Founders | Madan CA

I was sitting in my office recently with a tech founder named Sarah. Her corporation had just cleared its best year yet, and she was ready to start “levelling up” her long-term investments.

Section 85 Rollover Accountant: Why Expert Guidance Matters for Tax-Deferred Transfers

When business owners restructure, incorporate, or transfer assets to a corporation, tax consequences can quickly become complex. One of the most valuable provisions available under Canadian tax law is the Section 85 rollover, which allows assets to be transferred to a corporation on a tax-deferred basis. However, this strategy must be executed carefully to avoid … Continue reading

Corporate Tax Minimization Strategies in Canada

Navigating corporate taxes in Canada is complex but smart planning can significantly reduce what your company pays each year. With constantly evolving tax rules, reporting requirements, and incentives from both federal and provincial governments, effective tax minimization isn’t just smart accounting but also strategic business planning.

2025: How Small Businesses Can Minimize Tax Liabilities

There is a specific feeling every business owner knows. It’s that moment in April (or June, if you’re incorporated) when you look at your net profit, feel a surge of pride, and then look at the estimated tax bill and feel… mostly pain.

Should You Invest in Cryptocurrency Personally or Through Your Corporation?

As cryptocurrency investing in Canada continues to grow, many incorporated professionals – especially consultants, IT specialists, and entrepreneurs – are asking an important question: Is it better to invest in crypto personally or through my corporation?

Tax Implications of Selling Your Business in Canada

Selling a business is one of the biggest financial decisions an entrepreneur can make. Beyond negotiating the right price, business owners need to carefully consider how the sale will be structured, since taxes can drastically affect how much money you actually keep.

Understanding HST in Canada: A Guide for Businesses

As a Canadian accountant, I often get asked about HST: what it is, how to register for it, and how businesses can manage it efficiently. Whether you’re a small business owner just starting out or a seasoned entrepreneur, understanding HST is crucial to keeping your business compliant and optimizing your tax strategy.

Category: Business & Corporate Tax