The 2022 Federal Budget
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 is Here – Are You Ready to File Your Return?
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.
RRSP – It’s Not Too Late to Make Your Contribution 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.
Probate Fee – What is It and How to Minimize It
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.
Shareholders and Disputes – Through a Valuator’s Eyes
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.
Emigration and Immigration Tax on Moving to and From Canada
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.
Enterprise Value vs. Equity Value
In a prior article
we explained the basics of valuation multiples, and how they are used to calculate the fair market value of a business. In this article, we will explain the differences between enterprise value and equity value, and in particular, how these differences impact privately-owned businesses.
U.S. Vacation Property and The Unsuspecting U.S. Estate Tax
Are you considering purchasing or do you own a U.S. vacation property? Have you considered the potential U.S. estate tax that may be levied on your death? If you haven’t thought about U.S. estate taxes, you are not alone. Many Canadians looking to get into the foreign housing market do not consider the tax efficient ownership structure prior to making the purchase. Unfortunately, this could lead to unexpected taxes and liquidity problems for your estate.
Valuation Multiples – A Primer
What is a multiple?
Have you ever wondered what stock traders mean in the movies when they say “what’s it trading at?” Are you a tad confused when you hear “it’s worth about 4-times EBITDA”? If you are, you are not alone, and the truth is that the answer is not as complicated as one may think.
Post-Mortem Tax Planning: CRA Allowing Quicker Access to Cash with Pipeline
For deceased individuals who owned shares of a private corporation, the so-called “pipeline” transaction is a commonly used post-mortem tax planning strategy designed to minimize taxes on death. While the Canada Revenue Agency (the “CRA”) has, historically, consented to the use of pipeline transactions, it has usually imposed strict timing requirements that restrict the ability of the estate to access corporate funds in the years following death. In a recent tax ruling, the CRA relaxed its position when corporate funds were used to pay taxes of the deceased.