by Jason RosenShould I Pay Myself Salary or Dividends?
As an incorporated business owner in Canada, you’ve likely had to consider how you will be paying yourself. The type of remuneration you choose will...
by Jason RosenShould I Keep a Logbook for my Expenses?
Canadian Taxpayers can reduce their taxable income by claiming business expenses against the revenue they received. For individuals and businesses see...
by Jason RosenWhat is Rental Income in Canada?
Rental income is the money or value you receive when you rent out property that you either own, or have the use of. The property may be yours wholly, ...
by James PendergastAllowable Business Investment Loss Claims
An allowable business investment loss (“ABIL”) is a special type of capital loss that is deductible against all sources of income. This is differe...
by James PendergastWhat Happens to an RRSP Upon Death?
To put it rather simply, a Registered Retirement Savings Plan (“RRSP”), is a tool created by the Government of Canada designed to help individuals...
by James PendergastThe New Canada Recovery Hiring Program
The Federal Government recently announced a new program to assist businesses that have been impacted financially by the Covid-19 pandemic. The Canada ...
by Jason RosenWhat is a CRA Net Worth Audit?
Has your CRA auditor informed you that your audit will be a Net Worth Audit? Are you wondering what that means? We previously wrote about Net Worth Au...
by Jason RosenWhy you Should Keep your Receipts
Keeping your receipts, regardless of the field it pertains to, is a prudent and highly advisable practice. In the area of tax, this practice becomes e...
by Jason RosenBill C-208 – New Rules for Intergenerational Wealth Transfers
On June 29, 2021, Bill C-208 received Royal Assent. It represents a significant change to the Income Tax Act (“ITA”) for intergenerational...
by Kevin Hong