Lifetime Capital Gains Exemption (LCGE)

On January 1st, 2018, the LCGE increased to $848,252 of capital gains realized by an individual on qualified small business corporation shares. The LCGE has been indexed to inflation for the years following 2014. The new limits apply to any taxpayer who has claimed the LCGE previously.

For dispositions of qualified farm or fishing property, the Read More

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By |October 3rd, 2018|SmallBiz Builder|

Hiring Credit for Small Businesses – Extended to 2013

The 2013 federal budget extended the hiring credit for small business (HCSB), a credit intended to stimulate new employment and support small businesses. The HCSB provides small businesses relief from the employer’s share of employment insurance (EI) premiums paid in 2013. The credit does this by paying up to $1,000 based on increases in an Read More

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By |November 8th, 2013|SmallBiz Builder|

Stop International Tax Evasion Program

The 2013 Federal Budget introduced the concept that Canada Revenue Agency (CRA) will pay financial rewards to individuals who provide information on major international tax evasion. CRA could pay up to 15% of federal tax collected if the reassessments are in excess of $100,000. Penalties, interest and provincial taxes will be excluded.
Persons requesting rewards will Read More

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By |October 1st, 2013|Tax Tips|