Tag Archives for personal tax
Canada gets a variety of tax cuts
The Canadian government released a mini-budget this past week that featured serious tax cuts. The GST goes down another point to 5% and the lowest bracket of personal tax is lowered back down to 15%. Corporate taxes continued their downward … Continue reading
8 quick facts about the principal residence exemption
Continuing the series of “quick facts” posts (see prior ones about the capital gains exemption and the new financial instruments standards), today is all about the principal residence exemption in Canada. Any residence may be designated a principal residence as … Continue reading
My busy season has begun in earnest
Busy season is upon me and I’m up to my eyeballs in work. It’s Friday night but I’m relaxing at home, trying to chill out and prepare for a full day at the office tomorrow. Got out early tonight, at … Continue reading
Incorporate or not: It’s the investment
A small business usually starts out as a sole proprietorship, owned and operated by the founder personally and reporting business income on their annual personal tax return. But as the business grows, the question of incorporation will always arise, and … Continue reading