Significant Changes to Small Business Owners

Earlier this week the Department of Finance released a consultation paper proposing new tax rules that target private businesses and how they accumulate capital and remunerate family members. These proposed changes are some of the most significant changes to the taxation of private businesses in dec...
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Is Your Interest Tax Deductible?

If you are going to have debt, one should always ask the question whether the interest, with respect to the debt, will be tax deductible. This is a simple step that will reduce the cost of your debt. Tax planning often allows you to accomplish interest deductibility, especially if you are a business...
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Budget 2017 – Updates Relevant to our Clients

As we predicted last week, the capital gains inclusion rate remains unchanged, this is a relief for a lot of our clients. Personal and corporate tax rates also remain unchanged. There was speculation that there may have been changes to stock option deductions, which also remains status quo. The bu...
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Budget 2017 – The Inclusion Rate for Capital Gains

Is it on its way up? Well…. we will know shortly.  The federal government will announce the budget at 1 p.m. MST today. With many of our colleagues predicting that the inclusion rate is going up to at least 66.67%, people are actively planning to ensure the 50% inclusion rate is available to th...
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Navigating the Updated Anti-Avoidance Rule

Think twice before declaring a dividend to your holding company. New rules make it tougher to move cash from your operating company to your holding company. As you are aware, this step is often done to protect the cash from your operating company from creditors. While this step is still important, h...
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Is Your Business Income Still Eligible for the Small Business Rate?

Business owners have long enjoyed the small business rate in Canada. Accountants and lawyers, over the years, have developed clever plans to access and even multiply this benefit for their clients. It’s time to re-look at these types of plans to ensure your tax plans are adjusted to comply wit...
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