Jamie Golombek explains that the federal government’s evolving proposals to change corporate tax structures highlight RRSPs and TFSAs as smart strategies for business owners
Only 3% of the “most wealthy” privately owned corporations will have to pay higher taxes
Prime Minister Trudeau also says the government won't be changing the lifetime capital gains rule
The addition of a cut to the small business tax rate appears to be the political equivalent of a spoonful of sugar to make the reform medicine go down
The government should take a close look at the Joint Committee on Taxation’s comments on the proposed passive investment income proposal
The federal finance minister has acknowledged changes are needed to address some of the concerns raised
Kevin Wark outlines how proposed federal tax changes to passive investments in private corporations would work
There are several measures you and your clients need to consider as the taxation year draws to a close, including taking advantage of certain measures that may no longer be available next year - as well as some that are tried and true
The law requires that your clients store tax receipts and other documents for several years. A variety of digital options are available to make scanning, storing and retrieving receipts easy
New rules for the principal residence capital gains exemption mean that keeping precise records of residence sales in a range of situations is critical for clients, especially if they move often or own or rent multiple residences