Federal Tax Credits Helps Business Save

Canadian federal tax credits are designed to encourage specific business activities, improve competitiveness, and reduce the overall tax burden for businesses. To help you find which credits you may be eligible for, we’ve put together this handy list of links to each one.

The age at which you should start taking Canada Pension Plan (CPP) benefits depends on your personal financial situation, health, and retirement plans. You can begin taking CPP anytime between age 60 and 70, but the timing significantly impacts your monthly payments.

Here’s a breakdown of the key factors to consider:

Now that you understand how a RRIF works, you need to take the Tax Implications of RRIF Withdrawals into account to maximize your income. Not doing so could lead to lower returns in your pocket.

This article is timely, with the end of the year in sight.

A Registered Retirement Income Fund (RRIF) is a retirement income vehicle in Canada, designed to provide a steady income stream to retirees by converting savings from a Registered Retirement Savings Plan (RRSP) into taxable income. Here's how it works:

The Canada Small Business Financing Program (CSBFP) is a federal initiative that helps small businesses obtain financing to start, expand, modernize, or improve their operations. Administered by Innovation, Science and Economic Development Canada (ISED), the program encourages lending institutions to provide loans to small businesses by sharing the risk with the government.

The 2025 Canada Summer Jobs Grant program applications are now open until December 19, 2024 at 11:59 p.m. PST. 

When a Tax-Free Savings Account (TFSA) holder passes away, the handling of the account depends on whether the account has a named successor holder or a designated beneficiary. Here’s a breakdown of the main scenarios:

When advances or loans are made to shareholders this should be recorded in a general ledger account set up for this purpose. If a loan is made for which the interest would be tax deductible for the shareholder, it is important to track this loan separately from other advances or loans.

In Canada, capital gains are taxed when you sell an investment or property for more than its purchase price. However, there are several strategies to reduce or avoid capital gains tax. Here’s how you can manage it: