Growing a successful business often leads to an important question: is it time to incorporate? While incorporation offers potential tax planning and legal advantages, it is not the right choice for every business owner. Understanding when it may make sense is the first step toward making an informed decision.

The federal government has announced that the Canada Carbon Rebate (CCR) for Small Businesses will be non-taxable for eligible Canadian-controlled private corporations (CCPCs) for the 2019–2020 to 2023–2024 fuel charge years, as will the final payment for the 2024-2025 fuel charge year.

Find out what this means for your corporate tax return and how we can help.

On September 23, 2024, the government tabled a Notice of Ways and Means Motion to introduce a bill entitled An Act to amend the Income Tax Act and the Income Tax Regulations. This Notice of Ways and Means Motion modified the motion tabled on June 10, 2024. For more information about the capital gains tax changes, please visit the Notice of Ways and Means Motion.

Please read this update regarding the Underused Housing Tax (UHT)

Effective January 1, 2022, the Canada Revenue Agency introduced the Underused Housing Tax (UHT). See what that means for you and what steps you may have to take.