December 13, 2024 by Ryan Kitchen
The federal government recently increased the capital gains inclusion rate from 50% to 66.67% on gains above $250,000 for individuals and on all gains for corporations. However, other updates have helped offset this change.
December 2, 2024 by Rocky Bhatia
Welcome to Opportunity Rocks! Host Rocky Bhatia kicks the series off with his signature “no‑nonsense approach,” laying the foundation for what’s to come, as he gears up to tackle key topics and issues impacting Canadian businesses. Whether looking at increasingly complex tax legislation or the emergence of new technologies, he’ll empower business owners and entrepreneurs with valuable insight, fresh perspective and trusted guidance.
November 27, 2024 by Sarah Netley, Francesca Loreto
What if your business could tap into a treasure trove of financial incentives?
November 18, 2024 by Luc Joye
For Canadian farm businesses, AgriInvest can be a highly valuable program. It’s a savings account farms share with the government to help manage income loss, make investments, minimize risk and increase income.
November 1, 2024 by Sarah Netley, Francesca Loreto
Ready to unlock the potential of your business structure? Family trusts are a powerful tool that can offer substantial flexibility and tax benefits for businesses.
October 23, 2024 by Sean Grant-Young
In the tax policy world of 2024, Canadian accountants and businesses face many challenges as they try to properly administrate their existing corporate structures and execute their tax planning. Today’s tax laws are far more complex and ambiguous than they were a decade ago, particularly in the owner/manager or mid-market space. While the rules for large corporations and multinationals are no less complex, those businesses have many more resources then the typical owner/manager.
October 4, 2024 by Sarah Netley, Francesca Loreto
Do you want to better understand your corporate structure and whether it is actually helping you achieve your objectives?
September 19, 2024 by Luther VanGilst
Many farmers across Canada can expect to benefit from a change in the small business deduction (SBD) rules. In fact, you may have already noticed your corporate tax bill has gone down this year. This is because the change came into effect starting with corporate year‑ends ending
July 23, 2024 by Blair Brown
Cyber criminals are constantly developing new techniques to compromise the security of unsuspecting businesses. The threat spectrum is always changing due to emerging technology and the expansion of cloud services, automation, artificial intelligence and machine learning. Against the backdrop of this evolving threat landscape, the risk paradigm for our public and private sector clients has evolved. What follows is an overview of the four most common cybersecurity threats and concerns we currently warn clients about.
July 17, 2024 by Deanna Cregg
The tax implications of expenses and capital assets are quite different, so it’s important farm businesses understand these implications before making a significant investment in new assets or renovations. Unfortunately, the difference is not always clear. When a farm business spends money on a project that is deemed a repair, this can be deducted in the current tax year as an expense. However, if money is spent on a capital improvement, that gets added to the cost of the asset, which is then depreciated over time. In other words, rather than get the full benefit of the deduction in the year the investment is made, businesses see this benefit gradually, over a number of years, depending on the class of the asset and the depreciation rate. That is the fundamental difference between expenses and capital expenditures.
July 9, 2024 by Sarah Netley, Francesca Loreto
Curious about how HST could impact your next property deal? Join this episode of From the Source with Frankie and Sarah as they dive deep into the complexities of HST in real estate with fellow tax specialist, Cathie Brogan.
June 5, 2024 by James Hinebaugh
It’s rare to get through a day in 2024 without considering the state of artificial intelligence (AI) and where it is likely to go next. Just a few short years ago, it played a limited role in our daily lives, and it now seems to be everywhere.
May 30, 2024 by Candice McKay
Today’s farming businesses are facing unique challenges, but there are exciting new tools at their disposal that offer new possibilities. These tools are getting more sophisticated every day. By simply tracking recent trends in the agriculture industry, we can start to get a sense of where the sector is likely to go next. One fact seems undeniable: data and artificial intelligence (AI) are here to stay. Both are essential tools that can transform any farm’s sense of what is possible. In this article, we’ll take a closer look at how high‑tech tools are revolutionizing the farm industry.
April 29, 2024 by Sarah Netley, Francesca Loreto
Navigating the stormy seas of tax changes following the 2024 federal budget announcement can be confusing. We’re here to tell you what you need to know, From the Source.
April 12, 2024 by Sarah Netley, Francesca Loreto
Are you a business owner navigating cross‑border transactions and wondering about transfer pricing risks and documentation?
March 26, 2024 by Melinda Fleming
When most people learn they’re being audited, their immediate reaction is to feel scared and unsettled. As someone who worked as an auditor at the Canada Revenue Agency (CRA) for six years, I have a good sense of what clients are facing in the audit process, why they end up there and how they can steer this process in the best possible direction.
March 15, 2024 by Sarah Netley, Francesca Loreto
While no one wants their will to be contested, estate litigation plays a crucial role in resolving disputes and ensuring the fair distribution of a deceased person's assets. So, how can you avoid it?
February 9, 2024 by Sarah Netley, Francesca Loreto
Creating a will is a topic most of us would rather ignore, but this is one of the most important steps you will ever take. With that in mind, we’re sharing some essential perspective.
January 26, 2024 by Ryan Kitchen
The work of grain producers is very cyclical. You could have a good year, followed by a not‑so‑good year, followed by a really great year, followed by a disaster year. Over time, this might even out, but what happens when you have a number of good years in a row?
January 23, 2024 by Riccardo Zerbino
Until recently, trusts had to file a tax return within 90 days of the trust’s year end, but there were some exceptions. If you didn’t earn income, dispose of capital property or make distributions of income or capital in a year, you were generally not required to file an annual return.