In Canada, there are a number of income tax changes taking effect from January 01, 2020. You should stay informed of these tax changes to better plan your personal taxes and business taxes in Canada.
When it comes to your personal taxes (or corporate taxes) in Canada, it is very important that you get to the right tax professional! Read: Should you do your taxes yourself or hire a professional
Spring is near but the tax season is already there! You don’t want to waste away such a beautiful time of the year stressing over your taxes, right? Why not start preparing for it already?
Canada is an attractive country consistently ranking as a premium destination for immigrants. Many individuals move to Canada either for employment purpose, or to settle here permanently. As much as we love our welcoming and
Personal Income tax rates for Canada for 2020. The rates below are only for the province of Ontario. If you are residing in a different province, please contact our individual tax preparation service. Maroof HS
Owner operators of Canadian corporations often face this question whether they should withdraw Dividend or take Salary.
For the tax years starting January 2018, TOSI Rules are applicable. Expanded TOSI rules apply to adult individuals receiving amounts from the “related business”. Prior to 2018, income sprinkling was used as a tax planning
Contributing to a Registered Retirement Savings Plan (RRSP) is a great way to grow your savings in a tax-deferred environment. Whatever income earned inside the RRSP is not taxed. You don’t have to worry if
What is a Management Fee? Often, businesses in Canada use multiple entities to run their operations or there are allocations of Management fees because of the centralization of management within a corporate group. The management
If you are an owner-manager of a Canadian Controlled Private Corporation (CCPC) you can use certain tax planning strategies to optimize both personal taxes and corporation taxes in Canada. You should always exercise caution while
