by James Gustafson | Feb 13, 2011 | Accounting, Incorporation, Taxation, Uncategorized
If you have an incorporated business and pay yourself, family members or other employees a wage or dividends from your company then your company is required to file a Tslip information return to the CRA by no later than February 28th each year to report these...
by James Gustafson | Feb 8, 2011 | Taxation, Uncategorized
Spousal loans can work great in certain tax situations to shift investment income from a higher taxed spouse to a lower taxed one while also avoiding triggering the infamous “attribution rules” in the Income Tax Act. This can result in significant tax...
by James Gustafson | Dec 14, 2010 | Taxation, Uncategorized
Have you recently moved to Victoria or Oak Bay? Will you be earning income in Victoria from employment or a business? Have you moved at least 40 km closer to your new place of employment? If you answered yes to all of these questions then you may be eligible to...
by James Gustafson | Aug 22, 2010 | Accounting, Incorporation, Taxation, Uncategorized
Buying a business can be an exciting time. You’ve found something you believe will be a good investment and generate positive cash flow for years to come. Before signing on that dotted line, however, have you considered these factors: Why is the vendor...
by James Gustafson | Aug 16, 2010 | Taxation
As a Canadian taxpayer we are all aware we should be taxed on our “income”. But do we know exactly what income is? A closer review of the Income Tax Act will tell you that this term is not clearly defined. However, the legislation clearly tells us how to...
