Resources & Articles
Year: 2021
LIFE INSURANCE POLICIES: Using Tracking Shares
When a shareholder passes away, their shares are deemed to be disposed of at fair market value (FMV) unless a tax-free rollover is available and...
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Having Good Records Will Save You Tax Dollars
No one ever likes to be audited by the Canada Revenue Agency (CRA), but alas, it usually happens at some point in time to all...
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Federal economic and fiscal update
(authored by RSM CANADA) The Canadian government provides an overview of Canada’s finances, unveils the areas of focus, and sets out proposed new tax measures.
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DIRECTOR LIABILITY: Properly Resigning
Directors can be personally liable for unremitted employee source deductions and GST/HST unless they exercise due diligence to prevent failure to remit these amounts on...
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Meet the Tourism & Hospitality Industry Advisory Team
Meet our team of Tourism and Hospitality Industry Advisory professionals. They have knowledge of the business landscape in one of Canada’s most cherished tourist destinations.
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Meet the Not-for-Profit Industry Advisory Team
Meet our team of Not-for-Profit Industry Advisory professionals. They understand the unique business needs of Not-for-Profit organizations and know the specific challenges that are faced.
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ENHANCING THE VALUE OF OWNER-MANAGED BUSINESS: Starting the Transition Early
Many owner-managers are shocked at both the difficulties in finding a buyer for their business and the low prices an owner-managed business often commands. A...
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Importing Tangible Goods into Canada
Gone are the days when businesses operate without ‘dipping their feet’ or ‘jumping right in’ to our ever-expanding global economy. With companies looking to manage...
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PROVIDING SUPPLIES TO YOUR CONTRACTORS: GST/HST Issues
In a July 29, 2021, Tax Court of Canada case, a trucking company (the taxpayer) engaged the services of a number of drivers as independent...
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SALARIES TO FAMILY MEMBERS: Amounts Paid Must be Traceable
Oftentimes, family members of the owner of a business will work for the business. However, these arrangements can be somewhat informal, and amounts paid may...
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