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Corporate Tax

Choosing a Corporate Fiscal Year-end Date in Canada

If you have recently incorporated your business in Canada, you may have wondered when your year-end date is, or when it should be. This article will explain the factors to consider when choosing your year-end date, and will help you choose which is the right year-end date for your business. We’ll also address some common scenarios which will help you decide the right year-end date for you.

Joe Collins, CPA, CA
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Mar 2, 2022

Should I Invest Inside My Corporation?

When deciding whether to invest within your corporation or to do so personally, there are a few factors to consider.

Joe Collins, CPA, CA
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Nov 19, 2021

Company Cars - Should You Buy or Lease a Car in Your Corporation?

What you should know before buying or leasing a vehicle in your Canadian corporation.

Patrick Harrison, CPA
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Dec 3, 2021

Canada’s Proposed Tax Changes - What Entrepreneurs Need to Know

There’s been a lot of chatter about the proposed tax changes for Canadian corporations but like most things tax-related, it isn’t exactly quick and easy to get the skinny on the impacts your business may face.  Not to worry, Avalon is here to explain the three most important things you need to know about these changes:

Paul Sharpe, CPA, CA
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Nov 21, 2017

How to Claim SR&ED Tax Credits

The Scientific Research and Experimental Development program, SRED for short, is a tax incentive program designed to encourage Canadian businesses of all sizes and in all sectors to conduct research and development in Canada. This article will help you to understand:If your business is eligible to claim SRED tax creditsWhat types of expenditures qualify for the programHow to claim SRED creditsHow much you can expect to receive from the SRED program, Costs of claiming SRED credits and other factors to consider.

Paul Sharpe, CPA, CA
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Sep 9, 2018

What Expenses Can I Deduct in My Business?

If you’ve operated a business or know someone who has, chances are you’ve had the conversation about what you can “write-off”.  It may have gone something like this:

Paul Sharpe, CPA, CA
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Mar 18, 2018

Shareholder Loan: Understand it and Avoid Trouble with the CRA

After reading this article you’ll understand what a shareholder loan is and how to use it.  You’ll also be aware of potential tax issues that can arise with CRA and how to avoid them.

Paul Sharpe, CPA, CA
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Feb 12, 2019

Employee Gifts - What Are the Tax Implications of Giving Gifts to Staff?

We have some amazing people working at Avalon Accounting and we want to show our appreciation for them and their great work.There are lots of ways to do that, like telling them “great jorb!” or going out for an afternoon of drinks and games instead of filing those four more GST returns.

Paul Sharpe, CPA, CA
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Apr 17, 2018

TOSI Rules When Paying Dividends to Your Spouse

This article will explain what tax on split income (TOSI) rules are.  Specifically, we’ll look at how TOSI rules affect your ability to pay dividends to your spouse and adult family members.

Paul Sharpe, CPA, CA
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Mar 28, 2019

Corporate Share Structure: Tax Considerations for Canadian Businesses

Often when owners incorporate a company themselves, they are not aware of the requirements and implications of issuing shares.This article will help to explain (from an accounting perspective) the reasons for certain share ownership structures of small businesses.

Melissa Gayfer, CPA
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Feb 22, 2021