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.
TAXATION Crowdfunding is a new way to raise money; however, be careful of the tax implications. One of the latest means of raising money to start a new business, raise operating funds, or tackle costly research and development projects is to make a broad-based appeal for funds with crowdfunding. Crowdfunding is not new; it was … Continue reading Crowdfunding
The Rise of Transfer Pricing Disputes Many multinational companies are using techniques to either avoid or lower their taxes by taking advantage of the fact they have a parent company or subsidiaries in other countries. The CRA, IRS, and other tax authorities are auditing taxpayers with greater scrutiny in regards to transfer pricing issues so … Continue reading The Rise of Transfer Pricing Disputes
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.
Much of the political rhetoric surrounding the Liberal Party’s win in the Canadian Federal election was centred on this notion of ‘change’, a promise of progressive changes that Canada needs in order to escape from the shadows of its Conservative predecessor. While looming issues such as the United Nations Climate Change Conference, the Trans Pacific … Continue reading Why Canada Needs Corporate Tax Reform
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.