by Chris Hammond | Oct 17, 2017 | News
Estate Planning and Tax Implications When estate planning, your consultant may suggest that the RRSP/RRIF holder designate a beneficiary of the plan. There are many advantages that most people are unaware of. Some of these include: Probate fees can be avoided because...
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 | Sep 11, 2017 | News
In a recent Technical Interpretation, CRA noted that an employer-provided per diem meal allowance will not be taxable where the following conditions are met: It must be a reasonable amount; The allowance is received to cover expenses while travelling away from the...
by Chris Hammond | Aug 29, 2017 | News
Have you wondered if you should incorporate your business? Historically the income tax system in Canada has benefited incorporated Canadian small businesses. Although the income and deduction calculations are almost identical to an unincorporated business, the major...
by Chris Hammond | Aug 16, 2017 | News
Tax Credits for Students: How College Students in Canada Can Save Common Deductions and Tax Credits for Students The most common tax credits for students, or deductions, are moving expenses and child care expenses. Moving Expenses You can deduct moving expenses if you...
by Chris Hammond | Aug 1, 2017 | News
Have you ever wondered how your personal assets would be affected should the CRA send you an advisory or audit for collections? Here are eleven tips that will help safeguard small business owner’s personal asset’s from CRA collections. Never use your home...
