We will commence with some key definitions for a better understanding of the contents. Ask any Canadian what a dividend is and, if they don’t know, they’ll at least say it’s something positive. For the most part, they’d be right. Dividends are distributions of a corporation’s…

For taxation years beginning after December 31, 2018, all Canadian controlled private corporations (CCPCs) earning investment income must consider a new set of complex rules relating to their refundable dividend tax on hand (RDTOH) balances.

The Federal Dividend Tax Credit in Canada If you are a shareholder in a Canadian corporation, you may earn dividend income, which should be reported on your tax return. Typically, you also may be eligible to receive the federal dividend…

CPC Accounting works with new & existing entrepreneurs all the time, and we find 90% success stories, share a discipline which unfolds as follows: 1. A 60 months detailed business plan, based on lead generation strategy…

Deadline The deadline for most individuals to file their 2019 tax return and for all individuals to pay any amounts due is April 30, 2020. Self-employed For those who are self-employed, or who have a spouse or common-law partner who…

As 2018 draws to a close, it’s a good time to meet with your accountant and have an informed discussion about maximizing tax savings for the past year. Small business owners, in particular, have many opportunities to save on their yearly taxes, so take a few minutes to review your options with an expert before 2018.