by Padgett | May 6, 2020 | News
Financial Help for Small Business Owners Due to COVID-19 The Canada Emergency Wage Subsidy (CEWS) The CEWS will cover 75% of an employee’s wages – up to $847 per week – for employers of all sizes and across all sectors who have suffered a drop in gross revenues...
by Chris Hammond | Feb 1, 2018 | News
February brings many questions as tax season quickly approaches. One of the most common topics being automobile deductions. Updated for 2020, the ceiling on the capital cost of passenger vehicles for capital cost allowance (CCA) purposes remains at $30,000 (plus...
by Chris Hammond | Dec 7, 2017 | News
Capital Gains Exemption Deduction The lifetime capital gains exemption deduction, if you dispose of shares in a qualified small business corporation, is $835,716, or $1,000,000 for a qualified farm property or qualified fishing property. If you have already claimed...
by Chris Hammond | Oct 2, 2017 | News
On January 1st, 2017, the LCGE increased to $835,716 of capital gains realized by an individual on qualified small business corporation shares. The LCGE has been indexed to inflation for the years following 2014. The new limits apply to any taxpayer who has claimed...
by Chris Hammond | Jul 21, 2017 | News
Every business owner should be concerned about creditor proofing his assets. Consider these suggestions: 1. Transfer assets out of the company: Place capital assets in a separate holding corporation so that subsequent legal claims that arise in the operating...
