Coronavirus BC: Summary of BC’s COVID-19 Action Plan
Following is a summary of select measures recently announced as part of BC’s COVID-19 Action Plan. Employment & finances BC Emergency Benefit for Workers – a tax-free $1,000 payment to […]
Coronavirus Canada: COVID-19 Measures for Employers
The following is an important message from the CRA concerning COVID-19 measures for employers: The CRA is closely monitoring the COVID-19 situation, and working with government partners to implement the […]
Owner-Manager Year-End Tips
Year-end remuneration strategies Determine optimal salary-dividend mix for the owner-manager and family members to minimize overall taxes by considering: Marginal tax rates Corporation’s tax rate Provincial health and/or payroll taxes […]
Important Year End Tax Considerations as We Approach the End of 2019
As we approach the end of 2019, there are a number of important tax-related items to consider. Here are a few of them: Income splitting techniques Income-splitting loans: funds can […]
Impending Changes to Canada Pension Plan
Many owner-managers across Canada chose to adjust staff levels, wages and prices when the minimum wage was increased. For many, it is still too early to determine the final impact […]
Tax Planning Through the Use of Private Corporations (August 2017)
You may have heard about the recent consultation paper that was released by the Department of Finance on July 18, 2017. It addressed tax planning through the use of private […]
BC Training and Education Savings Grant (BCTESG)
In a previous post, we provided information in regards to the above grant. Budget 2016 announced that the program was being expanded so that children born in 2006 can apply for the […]
Home Accessibility Tax Credit (HATC)
If you are 65 years of age or older or are eligible to claim the disability tax credit and are planning on renovating your home in order to improve accessibility […]
BC Training And Education Savings Grant (BCTESG)
BC Training and Education Savings Grant (BCTESG) Just a reminder for families with children born on or after January 1, 2007, the government of BC will contribute $1,200 into an […]
Canada Taxes: Travel Medical Expenses
The rules related to transportation and travel expenses eligible for a medical tax credit are often misunderstood. As per Income Tax Folio S1-F1-C1, Medical Expense Tax Credit “an amount paid to a […]