Bill C-13 is currently making its way through the Senate as I write this. I have taken an opportunity to review the bill as passed by the House of Commons and this is my summary. If there are any changes to the Bill or additional information becomes available, this post will be updated to reflect…
Approximately an hour ago, like many of you, our team members were watching our Prime Minister deliver news that the Canada/US border was closing to non-essential traffic as well as unveiling the Economic Response Plan. I am going to provide you with my interpretation of the Response Plan based on the facts that are currently…
Over the past two months, I have had the Tax Proposal on my mind and it isn’t simply because I am a Tax Geek. The Proposal from my first read was concerning, not only to me, a Small Business Owner who uses a Private Corporation, but to my Community and the businesses within it. As…
On July 18, 2017, the Department of Finance released the Proposal, Taxation of Private Corporations. The Proposal proposes significant changes to tax legislation that would have a significant effect on almost all of our businesses in Charlotte County. I posted a blog earlier this summer on the details of the Proposal so you can follow…
On July 18, the Federal Government’s Department of Finance released a 63 page proposal on potential tax legislation reform directed at Small Businesses (who utilize a corporation to run their business). The full proposal can be found here: Tax Planning Using Private Corporations. The general public has until October 2nd to provide comments, analysis and…
So it was Federal Budget Day today, a day when tax accountants wait anxiously for the Finance Minister to speak in the House of Commons, allowing all the media outlets to spill the details of the budget, after being in lock up all day reading this year’s 2oo plus page budget. Yes, 200 plus pages,…
I have been asked by many people why I chose to become an Accountant, especially one who specializes in taxation. The obvious answer is the glamour that come with being an Accountant or the excitement of the profession as seen by a new movie coming out, The Accountant starring Ben Affleck. There are two reasons…
The 2016 Federal Budget was tabled today in Ottawa and the Budget included some interesting changes for individuals and businesses. You are probably first questioning why I am so excited when it is Budget Day, whether it be Provincial or Federal. Federal Budget Day is another Super Bowl for Accountants. We have our chips out,…
This past Tuesday, I received word that Brian Parsons passed away. I had known Brian all my life, as his parents and my grandparents were good friends and I grew up with Brian’s children, Jared and Sam. Not only did I know Brian on a personal level, I worked for him during the summers in…
What is more exciting than the 2016/17 New Brunswick Budget? A blog from a Tax Accountant about it! You better believe it. Budget day, whether it be a Federal or Provincial Budget is always a day that is waited for with anticipation as tax announcements can mean significant changes for business owners and individuals. The 2016/2017…