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Introduction Canada’s tax system offers significant incentives for small business owners through the Lifetime Capital Gains Exemption (LCGE). This exemption provides substantial tax savings by reducing or eliminating the taxable portion of capital gains on the sale of Qualified Small Business Corporation (QSBC) shares. As of 2023, the LCGE allows individuals to exempt up to […]

Introduction The ability for Ontario real estate agents to incorporate under the Trust in Real Estate Services Act, 2020 (TRESA) has opened new opportunities for tax planning, retirement savings, and operational flexibility. By forming a Personal Real Estate Corporation (PREC), real estate professionals can access the benefits of incorporation while adhering to unique regulatory requirements. […]

Introduction The shift to remote work, accelerated by the COVID-19 pandemic, has transformed how Canadians manage their workspaces. Many employees now work from home, leading to increased interest in claiming home office expenses. To accommodate these changes, the Canada Revenue Agency (CRA) introduced simplified methods and clarified the requirements for deducting these expenses. This guide […]

Introduction Succession, estate, and tax planning play a crucial role in preserving wealth and ensuring a smooth transfer of assets across generations. In Ontario, effective planning can significantly reduce tax liabilities upon death while safeguarding the interests of your beneficiaries.  This guide explores key aspects of succession and estate planning, including taxation, methods for deferring […]

Introduction Incorporating a business is one of the most common and effective ways to structure small, medium, and large enterprises in Canada. A corporation offers several advantages, both in terms of tax benefits and legal protections.  This guide provides an overview of why incorporation is a popular choice among Canadian entrepreneurs and how it can […]