Changes to the BC Speculation and Vacancy Tax

Some good news – the BC government announced extensions to some temporary exemptions to the BC Speculation and Vacancy Tax (the “Spec Tax”) tax.  They also provided some clarity on other exemptions. What is the Spec Tax again?  It is a BC tax* that started in 2018 as part of BC’s housing affordability strategy to […]

Effective Divestiture Process

This article is from the quarterly Canadian Overview, a newsletter produced by the Canadian member firms of Moore North America. These articles are meant to pursue our mission of being the best partner in your success by keeping you aware of the latest business news. In previous articles we discussed various liquidity alternatives and how […]

Why Talking To The CRA Can Give You A Tax Headache

Many taxpayers receive requests for information from the Canada Revenue Agency.  Often the requests are for something simple, like supporting documents for your claim for charitable donations or medical expenses.  But sometimes, the requests are in the form of a lengthy questionnaire, a request for a meeting, or perhaps a telephone call[1].  You may be […]

IFRS 16 – Leases

Overview: IFRS 16 Leases was issued in January 2016 and applies to annual reporting periods beginning on or after January 1, 2019. This new standard, which will affect almost all companies that prepare financial statements in accordance with IFRS.  IFRS 16 requires that almost all leases are reflected on the balance sheet with a corresponding […]

Zero Emission Vehicles

This article is from the quarterly Canadian Overview, a newsletter produced by the Canadian member firms of Moore North America. These articles are meant to pursue our mission of being the best partner in your success by keeping you aware of the latest business news. Since March 19, 2019, companies that purchased zero-emission vehicles (such […]

Valuation Reports Are Not All Equal

This article is from the quarterly Canadian Overview, a newsletter produced by the Canadian member firms of Moore North America. These articles are meant to pursue our mission of being the best partner in your success by keeping you aware of the latest business news. Once it is determined that an independent valuation is needed, […]

11 Tax Tips For Owner-Managed Enterprises

TAX RATE SUMMARY BC personal and corporate tax rates will not change in 2020: Corporate Tax Rates (Fed + BC)          2019 2020 CCPC Active business income < $500,000 [1]   11.00% 11.00% CCPC Active business income > $500,000 27.00% 27.00% CCPC investment income  50.67% 50.67% Personal services business income 45.00% 45.00%   Personal Tax Rates (Fed […]