Taxation
Tax Changes for 2018/19

Tax Changes for 2018/19

Business Matters April 2019 Whether you prepare the return yourself or have them prepared by Towler & Associates, CPAs, it’s time for all Canadians to be gathering their paperwork together for their 2018 personal tax returns. So, what changes for 2018 might affect...

Impending Changes to CPP

Impending Changes to CPP

Business Matters January 2019 In 2018, many owner-managers across Canada chose to adjust staff levels, wages and prices when the minimum wage was increased. For many, it is still too early to determine the final impact on the corporate bottom line as a full fiscal...

We Owe How Much? … OUCH!

We Owe How Much? … OUCH!

Business Matters Volume 32 Issue 3 Manage cash flow better by projecting future tax liabilities. Unforeseen circumstances often leave owner-managers short of the cash needed to pay federal and provincial taxes. Unfortunately, many owner-managers consider unpaid tax...

For the Record

For the Record

Business Matters July 2018 Good record keeping today can prevent CRA penalties tomorrow. We live in a digital world where everything is captured electronically in real time. Paper financial statements have become relics from the past; unfortunately, the requirement to...

Registered Retirement Savings Plans

Registered Retirement Savings Plans

Business Matters Volume 31 Issue 6 Make your 2017 RRSP contribution before March 1, 2018. The 2017 RRSP contribution limit is 18% of your 2016 earned income to a maximum of $26,010. (For those who have not topped up every year, this is the additional room now...

Changes to Income Tax Rules for 2017

Changes to Income Tax Rules for 2017

Business Matters Volume 31 Issue 4 Be aware of changes to the income tax rules that will affect your 2017 filing. For those already thinking about their 2017 income taxes, the following summarizes some of the changes from 2016. Tax Credits The child tax credit for...

Consider the Taxes

Consider the Taxes

Business Matters Volume 31 Issue 2 Develop a strategy for distributing earnings and reducing corporate income taxes. For most owner-managers, their goal is to create personal wealth through the operation of a successful business. Unfortunately, corporate and personal...

Important Changes Beginning in 2016

Important Changes Beginning in 2016

Business Matters Volume 31 Issue 1 Be aware of the changes that affect your 2016 income tax filing and beyond. As you gather your 2016 tax data together for your CPA, take a few moments to read about the following changes and assess the impact they may have on you and...

Available for Use

Available for Use

Business Matters Volume 30 Issue 6 Operating an automobile for business and personal use has tax consequences. Purchasing or leasing an automobile in the company name and allowing employees to drive the automobile has tax consequences that may require owner-managers...