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Financial due diligence for acquisitions is not just an accounting exercise. It is the process buyers use to test whether the earnings, cash flow, and balance sheet they are buying are real, sustainable, and transferable after closing. In...
Intro: the problem Shopify founders run into A common setup: you run a Canadian corporation, your Shopify store is based in Canada, but your inventory ships from a U.S. warehouse. Then the complaints start: “My customers get charged tax...
In a recent post, we covered tax implications of Asset sale vs Share sale of a private corporation. If you’re selling your incorporated business, you’ve probably heard that you can sell “tax-free” using the Lifetime Capital Gains...
Asset Sale vs Share Sale in Canada: What It Means for Buyers and Sellers If you’re buying or selling a Canadian incorporated business, one decision will shape the whole deal: Asset sale: the buyer buys the business assets (equipment,...
A spousal RRSP (also called a spousal or common-law partner RRSP) is an RRSP that is owned by one spouse (the annuitant), but funded by the other spouse (the contributor). The contributor gets the RRSP deduction, while the annuitant...
Corporate-owned life insurance for CCPC owners: how it works and how it’s taxed If you’re a shareholder of a Canadian-controlled private corporation (CCPC), you’ve probably heard some version of this: “Have the corporation own the life...
Succession planning basics for CCPC owners (Canada) If you own an incorporated business in Canada, succession planning is the process of deciding - and preparing - who will own and run the business when you step back. That could be: a...
The federal government has announced changes in the form of a "grocery rebate" to help Canadians cope with rising grocery and essentials costs. Prime Minister Mark Carney introduced the Canada Groceries and Essentials Benefit, which...
Estimated reading time: 14 minutes SR&ED Tax Credits in Canada: What Owners Need to Know for 2025-2026 (and Beyond) If your incorporated business is building or improving technology in Canada, SR&ED may refund a meaningful portion...
Employee vs Contractor Rules in Canada: What CRA Actually Looks At If you’re a Canadian small business owner, hiring a “contractor” can feel like the easy button: pay an invoice, skip payroll, and move on. But CRA doesn’t assess employee...
A SAFE (Simple Agreement for Future Equity) aka SAFE Financing is a fundraising tool that lets your Canadian startup raise money now, without setting a company valuation today. In exchange, the investor gets the right to receive shares...
Estimated reading time: 7 minutes Table of contentsEligible vs non-eligible dividends from a CCPCWhat this post coversFirst: “ineligible” usually means “non-eligible”The difference in plain EnglishEligible dividendsNon-eligible...
Turning 18 changes the (tax and financial) game At 18, your child starts getting access to adult tools. Some are powerful. Some are dangerous if used wrong. This guide is Canada-wide. Ontario-first where helpful. Not legal advice. Use it...
Understanding the differences between the First Home Savings Account (FHSA) and the RRSP Home Buyers' Plan (HBP) can help prospective homebuyers save plenty of money. In a previous blog post, we compared RRSP vs TFSA. In this post, we...
RRSP vs TFSA is a topic of endless debate ever since the TFSA was introduced in Canada. Here is a tabular comparison from a layman's perspective. Key Comparison Points FeatureRRSP (Registered Retirement Savings Plan)TFSA (Tax-Free Savings...
As Canadians, we're fortunate to have access to Registered Retirement Savings Plans (RRSPs) as a powerful tool for building our nest eggs. However, with great tax-advantaged savings come great responsibilities. One of the most crucial...
Table of Contents Introduction What is Interest Deductibility? General CRA Rules for Interest Deductibility Can You Deduct Interest on a Personal Loan Used for Business? Challenges with Mixed-Use Loans How to Trace and Prove Business Use...
As the holiday season approaches, Canadian consumers have two reasons to celebrate: the GST Holiday and the $250 Working Canadians Rebate. Starting December 14, 2024, the federal government is introducing a temporary GST/HST exemption on...
When it comes to buying or selling a business in Canada, there’s more to think about than just getting a good price. You also need to know how GST/HST (Goods and Services Tax/Harmonized Sales Tax) applies to the sale. If you’re not...
As a business owner, managing your taxes effectively is crucial to staying compliant and maximizing efficiency. The Canada Revenue Agency (CRA) offers "CRA My Business Account," an online portal that provides easy access to your business...
If you want to take control of your taxes, benefits, and correspondence with the Canada Revenue Agency (CRA), registering for CRA My Account is your first step. It allows you easy access to all your tax information in one place. This...
The GST/HST New Residential Rental Property (NRRP) rebate is a tax-saving tool for real estate investors in Canada who purchase or construct new residential rental properties. It’s a way to recoup a significant portion of the GST or HST...
Table of Contents Introduction New Tax Rules and Compliance Requirements for Short-Term Rentals GST/HST Obligations for Short-Term Rentals Municipal Regulations and Compliance Financial Impact and Examples Strategies for Compliance...
As a business owner, your hard work and dedication have built something valuable — not just for you but for your family and possibly your employees too. But have you thought about what happens to your business if you’re no longer around?...
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The upcoming holiday season may turn out to be a bit extra jolly for Canadian small businesses this year! The recent announcement from the Government of Canada brings significant support through the Canada Carbon Rebate for Small...
If you’re facing mounting debt to the Canada Revenue Agency (CRA), you might be wondering: Does bankruptcy clear CRA debt? It's a pressing question for many Canadians who are struggling to keep up with their taxes, especially in these...
The ultimate guide to choosing between federal and provincial incorporation. Incorporating your business is a big step, but one of the first decisions you’ll need to make is whether to incorporate federally or provincially. If you're...
Wondering if you are required to register for QST? And if yes, how to register for QST? This comprehensive guide walks you through the process of registering for Quebec Sales Tax (QST), covering requirements for businesses in Quebec,...
As a small business owner in Canada, you're always on the lookout for ways to support your employees while managing costs. Enter Health Spending Accounts (HSAs) – a powerful tool that can help you do both. In this guide, we'll break down...
Introduction Are you thinking about buying an electric vehicle in Canada? Good news! The government offers incentives to make it more affordable. This post will explain the main programs available: the iZEV Rebate Program and the Enhanced...