During the summer of 2017, CCPC shareholders and tax advisors across Canada were surprised with by the announcement of new tax rules and restrictions that were being planned by the Minister of Finance. Basically, Ottawa felt that the existing rules at the time were too generous for the CCPC shareholders and intended to scale the “tax perks” down considerably. Almost two years later and with much drama during the interim, the new tax regime is now in place and time will tell how much extra ... Read More
Last Chance Tax Planning for 2018
As 2018 comes to an end, tax advisors across Canada are busy restructuring and planning many corporations to respond to the new tax rules that came into existence this year.
BC's New Tax Law Called Tax on Split Income (TOSI)
The biggest new tax law introduced this year is Tax on Split Income or TOSI for short. TOSI is so complicated that many tax advisors use a flowchart to visually follow the rules to assist in determining where the taxpayer stands with this rule this year. As ... Read MoreVancouver Tax Planning for CCPC’s As We Approach the Second Half of 2018
As the summer of 2018 comes to an end, vancouver tax advisors are starting to contemplate the tax planning work that will be required for CCPC come fall 2018. At the start of 2018, tax advisors and incorporated businesses awaited the 2018 federal budget with high level of anxiety. After all, the initial announcement to eliminate the tax deferral advantage that a CCPC enjoyed using its after-tax business income to earn passive income was severely punitive. As time passed and Ottawa responded ... Read More
Vancouver Tax Planning Dilemmas As 2017 Come To A Close
2017 has been a year of drama for Vancouver tax advisors and I am happy that it is coming to an end. I have to admit, it is not so much January 1, 2018 I am looking forward to. I am anxiously waiting for the 2018 budget date which may bring all Canadian private corporations more clarity on their financial and tax future. Vancouver Tax Planning - Changes For Private Coporations On July 18, 2017, Ottawa proposed dramatic changes to the taxation of private corporations. Since then, Ottawa has ... Read More
Vancouver Tax Planning: Time to Look at the Capital Dividend Account
As we reach the mid-point of the 2017 calendar year, it has been a good financial year for many British Columbian investors. Real estate gains continue and, for equity investors, the stock market has been on a tear since the fall of 2016. Vancouver Corporate Tax Planning With the conclusion of the personal tax-filing season, summer and fall is the time for corporate tax planning. The one tax planning item that should be looked at this year, due to such favorable macro-financial conditions, is ... Read More
Year End Checklist for Corporations and Shareholders
2016 Checklist for Corporations & Shareholders Year End Taxes As the calendar year-end approaches, taxpayers have a few more weeks to organize their financial affairs. All financial transactions affecting the 2016 tax year will have a December 31, 2016 cutoff, with the exception of the RRSP contributions, which allow for an extra 60 days after year-end for contributions that will count towards the 2016 tax year. Every Canadian has the opportunity to do some year-end tax planning, but ... Read More
