Ideas & perspectives
Accounting, tax and business perspectives
from Sheldon & Xu CPA.
131–140 of 161 articles
As the 2023 trust deadline approached, owners were identifying possible bare trusts. CRA’s March 28 relief changed the immediate filing requirement, but not the need for clear ownership records.
Before Ontario’s March 26, 2024 Budget, business owners could identify the tax, investment and labour assumptions that might require action—without planning around speculation.
Businesses that applied through their CEBA lender by January 18, 2024 had until March 28 to complete qualifying repayment. The remaining decision still required a liquidity comparison.
Expanded trust reporting for 2023 meant some arrangements needed a T3 return and Schedule 15 for the first time. Identifying the arrangement and parties was the starting point.
Before the Bank of Canada’s March 6, 2024 decision, owners could improve planning by testing debt service, customer demand and investment assumptions without trying to predict the announcement.
Before filing 2023 T4 and T4A returns, employers and payers should reconcile payroll, benefits and recipient details rather than treating slip preparation as a software exercise.
A shareholder loan balance may represent several different transactions. Reconstructing it early helps owners avoid surprises and make better compensation decisions.
Salary and dividends create different tax, retirement, payroll and cash-flow consequences. The right mix depends on more than the current personal tax bill.
A profitable business can still run short of cash. Learn which working-capital movements, commitments and warning signs owners should review each month.
Since January 22, 2024, CBCA corporations have had to file information about individuals with significant control. The first step is confirming whether the federal rule applies.
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