What the Business Outlook Survey Said About 2024 Planning
The Bank of Canada’s fourth-quarter 2023 survey pointed to softer demand, easing labour shortages and continued wage pressure. Here is how owners could translate that into decisions.
Business
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Business
CEBA’s January 18 Deadline: Decisions for Outstanding Loans
The CEBA forgiveness deadline required more than a repayment decision. Business owners also needed to compare liquidity, refinancing costs and the value of forgiveness.
Accounting
2024 Payroll Reset: CPP2, Remittance Calendars and Cash Planning
A practical January 2024 payroll checklist covering CPP2, employer cash-flow planning and CRA remittance schedules.
Business
Reflecting on 2023: Key Tax Planning Changes and Opportunities for Business
As we edge closer to the end of 2023, it's crucial for businesses to stay informed about tax planning strategies. This year has brought several changes and opportunities in the realm of tax planning, including adjustments in deadlines, new legislative measures, and…
Personal Tax
Year-end Review of Personal Tax Planning for 2023 – Navigating New Tax Credits and Leveraging Established Strategies
As we approach the end of 2023, it's crucial to stay informed about the essential tax deadlines, planning strategies, and legislative updates that could impact your financial decisions. This year's overview covers key areas of personal tax planning. Important Payment Dates Awareness…
News
Ontario’s 2023 Economic Outlook: Building a Stronger Future Together
Ontario's economic landscape is set for significant developments as Minister of Finance Peter Bethlenfalvy unveiled the province’s 2023 economic outlook and fiscal review on November 2, 2023. Under the banner of "Building a Stronger Ontario Together", this year’s statement not only reflects…
Advices
Overview of the Enhanced GST Rental Rebate for New Rental Apartments
Introduction In a significant development on September 14, 2023, the Department of Finance revealed further details about the federal government's initiative to enhance the GST rental rebate. This change is set to provide substantial financial relief to builders in the residential rental…
BusinessPersonal Tax
Understanding the Specified Foreign Property Reporting Requirements (T1135)
Canada's approach to taxing its residents on worldwide income, as stipulated in the Federal Income Tax Act (ITA), extends beyond domestic borders. Today, we will focus on ITA's "specified foreign property" (SFP) reporting regime. It's crucial to note that separate rules apply…
Advices
Short-Form vs. Long-Form Amalgamation: Choosing the Right Path for Corporate Consolidation
In the realm of corporate restructuring, amalgamation is a crucial strategy for businesses seeking growth, efficiency, and competitive edge. Among the various methods available, short-form and long-form amalgamations stand out as two distinct pathways, each with its unique processes and implications. Today,…
Personal Tax
House Flipping: A Guide to Navigating Income Tax Rules
Investing in real estate offers numerous opportunities for profit, especially through house flipping. However, understanding the complex tax implications associated with this activity is crucial. Understanding the Principal Residence Exemption (PRE) A common misconception is that selling a "principal residence" is exempt…
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