Ottawa’s proposed tax changes could keep crucial angel investors at bay

Mike Volker is an angel investor and entrepreneur based in Vancouver. Business begets business. Successful entrepreneurs invest profits from their business in new ventures launched by other entrepreneurs. These "angel investors," and the critical role they play in the innovation landscape, are not well understood by policy makers. Instead of amplifying their nascent contributions, Ottawa's new tax proposals may keep them at bay. This is because the proposals will make it unattractive for angels Read more [...]

What to do when Earnings grow, but profits do Not

Sarah Landstreet is in the company of earning packaging products for the food sector, such as paper cups, bags and boxes. The 32-year-old's Kitchener, Ont.-based firm, Provides branded things mainly for bakeries and cafés. Ms. Landstreet, a mechanical engineer who owned a cupcake bakery in Northern Ireland before selling the company in 2011 and returning to Canada to earn her MBA, started Georgette in 2013. Her firm also provides packaging-related consulting solutions, helping businesses Read more [...]

Planned tax changes pit Attorneys, bar association on opposing sides

Ottawa's proposed tax changes for private corporations have created a rift in Canada's legal community and are refuelling a disagreement over whether attorneys are public servants, dependent on a professional oath, no matter which sort of law they practice.The issue arose following the Canadian Bar Association (CBA) recently took a position contrary to the Liberal government's proposed tax reforms, arguing they'll hurt small businesses, including some smaller law firms throughout the country.The Read more [...]

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 [...]