A low prescribed rate can provide plenty of tax-saving opportunities for you and your family. With the Canada Revenue Agency (CRA)’s prescribed rate currently at a historical low of 1% per annum and the expected increase of the prescribed rate to 2% starting July 1, 2022, now is an excellent time to take advantage of the prescribed rate loan family trust strategy.

The Deputy Prime Minister and Finance Minister Chrystia Freeland tabled the 2022 Federal Budget on April 7, 2022. This article provides our summary of some of the tax measures proposed in the Budget. 

Personal tax season has arrived, and it is time to get ready to file your 2021 tax return! This article will not only remind you of the requirements related to your filing obligations, but also help you understand some of the new tax changes for 2021.

One of the best tools to save for retirement is a Register Retirement Savings Plan (“RRSP”). An RRSP is a special type of registered investment and savings account that provides opportunities to reduce your taxes in the year of contribution and defer income taxes on the income earned within the account. 

In our previous article “What’s a CBV (Chartered Business Valuator)”, we explored what a CBV does and the types of engagements in which their expertise may be sought. In this article, we will explore the beginning of a valuation engagement, and the common questions that clients often have.

With the holidays around the corner everyone is in a giving mood. Before you go out and donate to your favourite registered charity, did you know that not all donations are equal?

One of the most famous lines from William Shakespeare’s Romeo and Juliet questions the meaningfulness of names, and given definitions, as follows:

“What’s in a name? That which we call a rose by any other name would smell as sweet.”

In some countries, including the United States, an estate (or inheritance) tax is imposed on an individual’s assets and is calculated at the date of death. There is no inheritance tax in Canada.

Some of the primary reasons that the services of a business valuator are required involve changes related to shareholders. In some cases, a successful business may add one or more shareholders to strengthen its core operations or reward performance.

Moving from one country to another is a major life changing event. Although the potential tax may not be at the forefront of the decision-making process, it is important to be proactive and understand the tax liability from such a move.