Stock options are beneficial to employees, allowing them to purchase shares in their employer corporation (or related company) below fair market value. Stock options can be a useful way to remunerate key employees when a company has a cash shortage (and the options would actually bring cash in when an employee exercises them), although this …
From assets and property to personal ties, several factors will affect your taxation, so detailed planning needs to be done in advance of the move. About three million Canadians currently live outside the country. And many others contemplate making a move at some point in their lives – whether it be to pursue a professional …
The tax consequences of leaving Canada permanently Read More »
The Canada Revenue Agency (CRA) refers to the Voluntary Disclosures Program (VDP) as a second chance to correct your taxes. The program has both income tax and GST/HST streams. Income tax stream VDP applications in the income tax stream may cover: omitted or underreported income expenses claimed in error failure to remit source deductions failure …
Both the Registered Retirement Savings Plan (RRSP) and the Tax-Free Savings Account (TFSA) allow you to build savings in a tax-sheltered environment. So, what are the differences between the two – and when does it make sense to invest in one over the other? The purpose of the RRSP, as its name states, is for …
Registered Retirement Savings Plan vs Tax-Free Savings Account – What’s the Difference? Read More »
Last month, one of our client, an existing businessperson who was thinking about buying a new business. Fortunately, they are very experienced and understood many of the issues they would face. Despite that, we advised them to took the step of discussing the purchase with their lawyer and us before signing any documents. Read on …
Buying a Business: A Little Planning Goes a Long Way Read More »
CPA expertise can help clients maximize this exemption and minimize taxes when it is time to sell property. When filing personal income tax returns, how to report a property sale can be confusing and expensive, dependent on value appreciation and the capital gains tax owed. Luckily, under Canada’s Income Tax Act (ITA), the sale of …
Principal residence exemption – common questions Read More »
No matter what type of data your organization retains, it is most likely worth securing. Protecting data is no longer just a technical discussion but requires dedicated coordination between many different areas of an organization. The importance of protecting data Corporate transactional data, client information or other sensitive data are often at risk of being …
Data privacy and security: What you need to know Read More »
