tax planning Archives - CPA Accountant and Tax Advisor- Coquitlam, Burnaby, Maple Ridge

tax planning

Eligible and Non-eligible Dividends

Eligible dividends

An eligible dividend is any taxable dividend paid to a resident of Canada by a Canadian corporation that is designated by that corporation to be an eligible dividend. A corporation’s capacity to pay eligible dividends depends mostly on its status. In simple terms […]

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Automobile taxable benefit

Automobile Taxable Benefit

Per-kilometre allowance rates that CRA does not consider reasonable

If you pay your employee an allowance based on a per-kilometre rate that we do not consider reasonable because it is either too high or too low, it is a taxable benefit and […]

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Personal Tax Planning

The Family Tax Cut

The government is proposing a new Family Tax Cut, a non-refundable tax credit worth up to $2,000 for couples with children under the age of 18.

The Family Tax Cut would allow a spouse to, in effect, transfer up to $50,000 of taxable income to […]

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Shareholder-Employee Loan or Benefit

Where the shareholder is also an employee, following types of loans are not taxable and excluded from income:
– a loan to employee who is not a specified employee of the lender
– where the purpose of the loan is to buy a principal residence
– where the purpose of the […]

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