2016 Federal budget
2016 federal budget proposes to keep the small business tax rate at 10.5 % after 2016. As a result, the budget also proposes to maintain the dividend gross-up rate at 17% and…
Fitness tax credit
Tax on Income Splitting – “kiddie tax”
Income splitting is the process of shifting income within a family to take advantage of the lower tax brackets, deductions and credits available to each family member. Anti-avoidance legislation was…
capital gain reserve
Capital Gain Reserve
Capital Gain Reserve Carry Forward If you have a capital gain, there may be an option to defer or reduce the capital gain tax. In some instances, all of the…
tax planning
Canadian Tax Obligations for Non-Residents
According to the Canada Revenue Agency you are a non-resident for tax purposes if you: - normally, customarily, or routinely live in another country and are not considered a resident of…
Income Splitting with Minor Kids
Splitting Income with Minor Kids to Save Taxes One way to reduce your taxes is to split income with your family. This is one of the popular tax planning strategy.…