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Understand CRA Interest and Penalties in a High-Interest Rate Environment

For years, corporate taxpayers paid very little attention to the bottom part of their annual corporate tax assessment notices.  That bottom part summed up late installment charges that are included in the final tax bill.  For years, installment interest charges hovered around 5% annualized so forgetting an installment or not paying the final balance owing on time had no material

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Corporate Investments – Post 2024 Budget

Capital gain planning for Canadian private corporations and their shareholders has become a more taxing math exercise post 2024 federal budget. There is plenty to consider given that capital gains earned in a corporation will have an inclusion rate of 66.67 percent versus the 50 percent inclusion rate for individuals. However, at the personal level, only the first $250K of

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Vancouver Real Estate Investments – Personal or Corporate Ownership?

Difference Between Real Estate Development and Real Estate Investment There is much confusion on the tax efficient way to hold real estate.  The confusion is because taxpayers confuse real estate development with real estate investment. If a taxpayer is planning to buy a piece of land and build a new house or substantially renovate an existing house, this is real

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