How Federal Small Business Tax Changes Affect Canadian Business Owners

A lot of things have changed lately. The weather was awesome – now it’s rainy. Dogs and kids were running free – now they are in patterned raincoats. And the federal government had so-called loopholes for small biz owners. Now the rules may be changing. What are the proposed tax changes? Tax changes are being put in place for small businesses that are incorporated. In July, Finance Minister Bill Morneau announced…  Read more

Why you might want to sell your business before 2017…

Why you might want to sell your business before 2017… If you’ve been looking for the right time to sell your business, you may want to do it before 2017. Here’s why Some of the most valuable business assets that can be sold are the awesome intangibles such as goodwill and customer lists. These types of assets are presently classified as “Cumulative Eligible Capital” (CEC). When sold, there is often…  Read more

Keep An Ear Out for CRA Scammers

Keep An Ear Out for CRA Scammers Tax season is over and you can finally take a breath. If you get a call from the Canada Revenue Agency (CRA) claiming that you owe money or that you are eligible for a refund or benefits, be aware that it could be a scam as there have recently been reports of scammers impersonating CRA collection agents. How to know if you’re speaking…  Read more

New Canadian Tax Provisions

New Canadian Tax Provisions and Pumpkin Spice Lattés Photo by: kkmarais Trying to balance your expenses between your kids, pet and pumpkin spice lattés (they really are delish) can be difficult. However, the government wants to help. On October 30, 2014, the federal government introduced 3 new tax measures to help you live a more affordable life in Canada. The new measures include a new family tax cut, an increase to…  Read more

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