Home-builder’s dip into the red a painful lesson

The homes that builder Derek Nicholson builds aren't your regular, cookie-cutter suburban houses.His Toronto-based project management company, , works with well-known architects to develop and restore custom houses in the modern or contemporary style. They're the sorts of buildings which are frequently written up in magazines and garner awards, and the specialty has helped Mr. Nicholson, a former senior director at the City of North York's parks and recreation department, build a healthier nine-employee Read more [...]

Moves business owners can make now ahead of the proposed tax changes

Small-business owners are scrambling to figure out what actions to take right now, if any, in light of Ottawa's controversial tax changes and proposals. The Globe spoke with tax planning experts about some strategies businesses may want to consider in the weeks ahead. Income splitting The government wants to restrict the ability of business owners to reduce their taxes by sprinkling income among relatives in lower tax brackets through dividends. The change is set to take effect on Jan. 1, Read more [...]

Morneau vs. business: How Ottawa created its tax  Problems

The tax-avoidance quagmire that federal Finance Minister Bill Morneau would like to clean up via suggested small-business tax changes is one Ottawa helped produce -- over four decades ago, when another Trudeau was primenbsp;minister.Prime Minister Justin Trudeau was just a couple of days old when a broad package of tax reforms enacted by the authorities of his father, Pierre Trudeau, took effect on Jan. 1, 1972. While small companies had received tax breaks before, the 1972 tax reforms instituted Read more [...]

Morneau vs. business: How Ottawa created its tax  Problems

The tax-avoidance quagmire that federal Finance Minister Bill Morneau would like to clean up via suggested small-business tax changes is one Ottawa helped produce -- over four decades ago, when another Trudeau was primenbsp;minister.Prime Minister Justin Trudeau was just a couple of days old when a broad package of tax reforms enacted by the authorities of his father, Pierre Trudeau, took effect on Jan. 1, 1972. While small companies had received tax breaks before, the 1972 tax reforms instituted Read more [...]

Accountants, financial planners brace for Strike from Taxation changes

Financial professionals are bracing for a drop in earnings if Ottawa goes forward with proposed tax changes for incorporated small businesses.If the rules change, accountants and financial planners who prepare the books and invest for those business owners say their customers will be discouraged from using their businesses that, in turn, means less work for those in the business.The Liberal government has introduced draft legislation which would restrict business owners' ability to reduce their Read more [...]

Business groups, entrepreneurs mobilize to block tax changes

Rage is turning into action for a firestorm of opposition to proposed federal taxation changes gains force among entrepreneurs and business organizations.In July, federal Finance Minister Bill Morneau announced several proposed tax changes. Small-business owners throughout the country have denounced them saying they will have a devastating effect on their enterprises. The proposals attempt to remove or restrict tax-saving steps like sharing income with family members, conserving passive investment Read more [...]

Business groups, entrepreneurs mobilize to block tax changes

Rage is turning into action for a firestorm of opposition to proposed federal taxation changes gains force among entrepreneurs and business organizations.In July, federal Finance Minister Bill Morneau announced several proposed tax changes. Small-business owners throughout the country have denounced them saying they will have a devastating effect on their enterprises. The proposals attempt to remove or restrict tax-saving steps like sharing income with family members, conserving passive investment Read more [...]

Business Entrepreneurs and Groups mobilize to block federal Taxation changes

Rage is turning into action for a firestorm of opposition to proposed federal taxation changes gains force among entrepreneurs and business organizations.In July, federal Finance Minister Bill Morneau announced several proposed tax changes. Small-business owners throughout the country have denounced them saying they will have a devastating effect on their enterprises. The proposals attempt to remove or restrict tax-saving steps like sharing income with family members, Read more [...]

What Canada’s new tax-planning proposals mean for private Companies

is an Spouse and taxation pioneer, private client services. Do you have a small, medium or large private company in Canada? New tax-planning proposals will impact your passive investments.On July 18, federal Finance Minister Bill Morneau introduced draft legislation, explanatory notes and a consultation paper proposing to overhaul the system of taxation for private companies, their shareholders and relatives. These suggestions are broad-based and mostly target Canadian-controlled Read more [...]

How much will Morneau’s tax changes that are proposed cost business? We do the math.

Accountants are busy crunching To close loopholes these businesses use to reduce their tax bills. The government is seeking to eliminate what it sees as a advantage individuals with corporations and employees have contrasted. Business owners assert the moves may have consequences in their ability to expand their businesses, and of course their retirement objectives and are unjust. X To continue reading this article, you must be Read more [...]