Blog

No Taxable Income, No Rush to File – Think Again About Information Returns

Mew & Company, Vancouver Corporate Tax Accountants  Penalties for Filing Late with the Canada Revenue Agency Sophisticated Canadian small corporations have good knowledge of the tax filing requirements and deadlines for their corporate tax return. Corporate tax returns are due six months after the business year end. The penalty for late filing is based on the amount of taxes owing

Read More

Canadian Holding Corporations and Individuals: Avoid Costly Foreign Asset Reporting Pitfalls

Foreign Asset Reporting Pitfalls for Canadian Holding Corporations and Individuals Canadian taxpayers, individuals, and corporations who hold foreign property exceeding $100,000 in cost at any time during the year, have significant foreign asset reporting obligations. Not only is the reporting obligation an annual requirement, but the penalties for non-compliance can be very steep. Foreign Asset Reporting Obligations Your foreign asset reporting obligations

Read More

Ending a Business Marriage: A Tax Perspective

Maybe your business has been struggling since the 2008-2009 financial crisis, or better yet, maybe the business has become more profitable every year since due to better management practices and branding. Despite progress or track record, maybe your finding that the relationships between the two or more shareholders involved in your business are strained, and this could be for various

Read More