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Accelerated Write-off of New Asset Purchases

Accelerated Write-off of New Asset Purchases

Tax Changes That Might Affect You Who doesn’t love a good business write-off? Did you purchase new assets after November 20, 2018? In the November 21, 2018 Fall Economic Statement, the federal government proposed three important and immediate changes to...
RRSP and Tax Planning

RRSP and Tax Planning

2018 is almost upon us as the year draws to a close. It’s time, once again, to take advantage of the many personal and business RRSP and tax-planning opportunities that are still available. Contribute to Your RRSP The most popular tax tool available to taxpayers is...
Lifetime Capital Gains Exemption (LCGE)

Lifetime Capital Gains Exemption (LCGE)

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...
Per Diem Meal Allowance

Per Diem Meal Allowance

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...