Tax Planning Archives - McCay Duff LLP Chartered Professional Accountants

Contracting services via a corporation - CRA impact

Do you provide contracting services via a corporation? Do you understand the personal services business rules?

Jennifer Wakeham - BBA, CPA, CGA
CRA, Tax Planning
3 minutes of reading

In recent years there has been a trend for businesses to hire contractors to fulfill long-term positions rather than offering permanent employment. Individual contractors who provide their services through a corporation need to understand the risk that the Canada Revenue Agency (CRA) may assess their corporation to be a personal service business (PSB), especially if they are providing services to just one client. What is a PSB? In its simplest terms, a PSB exists where …

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Business Matters – December 2019

McCay Duff
Business Matters, Tax Planning
19 minutes of reading

Running your business has many facets including managing the workplace, taxation, planning for your future and dealing with technology. Each area has its own challenges so we’ve included a few tips to help you navigate these issues. Continue reading to learn more on the topics below: Taxation – Taxation of Stock Options; Digital Management – Do You Have a Spare Million? What You Need to Know About Canada’s Anti-Spam Laws; Management – Disaster Recovery Planning: …

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Should you Incorporate your Not-For-Profit Organization?

Sherrie Moore - CPA, CA, B.COMM
Accounting, Business Advisory, Not-for-Profit Organizations, Tax Planning
2 minutes of reading

Incorporation can require a lot of paperwork and involves incurring legal fees, all of which may lead you to ask, is it worth it? No federal or provincial legislation requires a Not-for-Profit Organization (NPO) to incorporate. Like anything in life, there are both benefits and costs associated with incorporation. The answer to whether or not an NPO should incorporate does not have a “one size fits all” solution. Each NPO needs to consider its activities, …

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QST Registration Date Approaching for Non-Residents of Quebec Who Sell Goods and Services into Quebec

Greg Kauffeldt - B.COMM, CPA, CA, Partner
QST, Tax Compliance, Tax Planning, Tax Tips
4 minutes of reading

The Québec budget tabled on March 27, 2018 introduced a new QST regime that takes effect on September 1, 2019 for suppliers who are resident in Canada but not residents of Québec. This legislation has three newly defined suppliers for QST purposes: Foreign Specified Suppliers (FSS), Canadian Specified Suppliers (CSS) and operators of a Specified Digital Platform (SDP). An FSS is a supplier who: does not carry on a business in Canada; does not have …

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Why Knowing the Purpose of the Valuation Engagement is Important

Rick Evans - CPA, CA, CFF, CFE, CVA, ABV, ASA CPA (California)
Business Advisory, Business Valuation, Tax Planning
4 minutes of reading

There are many reasons why you may need to determine the value of your business. Some of the more common examples are marital dissolution, litigation and ownership disputes, buy/sell agreements, business and estate planning, and gift and tax planning purposes. Examples of the common users of a valuation report are the company shareholders, potential purchasers, the Courts and the Canada Revenue Agency (“CRA”). A valuation report prepared for one purpose is not necessarily appropriate for …

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Tax Planning

Do you provide contracting services via a corporation? Do you understand the personal services business rules?

Business Matters – December 2019

Should you Incorporate your Not-For-Profit Organization?

QST Registration Date Approaching for Non-Residents of Quebec Who Sell Goods and Services into Quebec

Why Knowing the Purpose of the Valuation Engagement is Important

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