Moving to US

Moving from Canada? Some Tax Things to Consider

  If you plan on leaving Canada, whether for the U.S. or another country, here are some things to know: Each country has its own rules for taxing individuals. Canada will tax you on your worldwide income if you are considered a  “Canadian resident” whether you live in Canada or temporarily somewhere else or are a […]

New CRA Audit Project: Car Expenses

New CRA Audit Project: Car Expenses

  It appears that the Canadian Revenue Agency (CRA) has a new project: corporate car expenses. This change comes as a surprise as previous correspondence from CRA was proposing to disallow personal car expenses for owner managers. In CRA correspondence that we have seen of late, the focus is on those companies that had an […]

shareholder motivations for liquidity

Shareholder Motivations for Liquidity

  (Part 2 of Preparing for a Liquidity Event) In my previous article that appeared in June’s edition of the Canadian Collaboration Newsletter, I discussed how best to prepare for a liquidity event. Proper preparation ensures a business is well positioned when encountering any unexpected events that may result in a liquidity event. It is recommended to […]