CRA Gift Giving Rules for Business Owners (Gift Tax)

CRA Gift Giving Rules for Business Owners (Gift Tax)

Business owners often ask us for advice on GIFTING cash or items to their staff members. What’s taxable and what isn’t? Should they give cash or an equivalent to cash item instead? Let’s take out some of the confusion surrounding how to give a gift...
Alberta BUDGET 2019 —How Does it Affect Taxpayers?

Alberta BUDGET 2019 —How Does it Affect Taxpayers?

Alberta Budget 2019 – How Does it Affect Taxpayers? Quick Fact Sheet On October 24, 2019 the Alberta Government introduced its first budget. Below are some highlights about how it impacts you as a taxpayer. The government has not changed any personal or corporate tax...
Tip Time! Learn About RRSP & RRIF Designation Potholes to Avoid

Tip Time! Learn About RRSP & RRIF Designation Potholes to Avoid

Direct Beneficiary Designation of RRSP or RRIF If you are considering transferring your RRSP’s or RRIF via a direct beneficiary you should be aware of some of the negative consequences that can occur. But with a little bit of pre-PLANNING and preparedness, you can...
Not Covered for Medical Expenses? Get a Health Service Plan!

Not Covered for Medical Expenses? Get a Health Service Plan!

Did you know you can save hundreds, maybe thousands in taxes with a Private Health Service Plan? Are you an employee of your own company and have significant medical and dental expenses each year of $2,000 or more not covered by a health plan? Creating a Private...