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...
Are YOU an Estate Trustee? Protect Yourself with these TIPS!

Are YOU an Estate Trustee? Protect Yourself with these TIPS!

Are YOU an Estate Trustee? Protect Yourself with these Tips!  Have you been designated as an Estate Trustee for someone you know? Are you aware of the liability of your role as Trustee? If not, here are some helpful tips to prepare for your important upcoming role....
How to GIFT MONEY NOW and SAVE on TAX LATER

How to GIFT MONEY NOW and SAVE on TAX LATER

HOW CAN YOU HELP YOUR FAMILY REDUCE TAX BURDEN OF INHERITING YOUR ESTATE? ‘The Gifting Strategy’ Estate Planning Gifting Strategy – used when you start to give away some of your assets to your children or charities prior to your death in order to minimize the...