Taxes

Capital Dividends

They say the best things in life are free. That’s what Capital Dividends are to …

They say the best things in life are free. That’s what Capital Dividends are to shareholders of Canadian small businesses. When a Canadian controlled private corporation generates a capital gain from the sale of investments or the sale of capital assets, such as land or business goodwill, one half of the gain is subject to corporate income tax. So what happens to the other half of the gain? How to Pay your shareholders tax-free? The …

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Should you pay your personal expenses from your business?

Should you Pay your Personal Expenses from your Business?

Do you ever use your business bank account or credit card to pay personal expenses? Perhaps you are out doing errands for your business and pick up personal items at the same time. Rather than asking the sales clerk to process two transactions, you charge all the items to your business credit card. Is this Ok? Yes, but it’s a bad idea! CAN I USE MONEY THAT COMES INTO MY BUSINESS FOR PERSONAL ITEMS? The …

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2016 Estates and Trusts Tax Compliance and Post Mortem Planning - It's a New World out There!

2016 Estates and Trusts Tax Compliance and Post Morten Planning – It’s a New World out There!

Just around the corner a series of new tax rules kick in that will impact the taxation of trusts and estates. These new rules will result in significant changes to existing and future tax planning arrangements. The current rules allow estates, testamentary trusts and grandfathered inter-vivos trusts indefinite access to the same graduated tax rates as an individual taxpayer. This often results in a lower overall tax liability where trust beneficiaries have access to more …

2016 Estates and Trusts Tax Compliance and Post Morten Planning – It’s a New World out There! Continue Reading

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