2020 Federal Budget Date Update

The 2020 Federal Budget was originally scheduled to be tabled March 30th but they announced this past Friday that it will be rescheduled. The House of Commons is taking a break until April 20th (in light of COVID-19) so it won’t be delivered before then.  Stay tuned for another blog post once the new date is announced.

What’s New in BC’s 2020 Budget

In its 2020 budget, the BC government has laid the groundwork for the province’s largest-ever infrastructure plan. The budget also promises new initiatives to offer British Columbians relief for tuition and childcare costs, and a new tax bracket for the province’s highest income earners. Here are the new and notable measures found in Budget 2020: […]

Tips for Planning Your Year-End

The new year brings new changes and new ideas; if you’re planning on incorporating or starting a business as a sole proprietor here is some advice to consider for planning an effective year-end. Plan in Accordance with Your Highs and Lows If your business is seasonal or cyclical, you’ll ideally want to establish a year-end […]

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 […]

Changes To Stock Options

Changes To Employee Stock Options

An employee stock option (ESO) grants employees the right to acquire shares of the employer at a fixed price and provides a long-term incentive in which employees benefit from the success of their employer, and likewise, employers benefit from long-term, loyal employees. On March 19, 2019, the Federal Government proposed to implement an annual cap […]

2019 Federal Budget Highlights

2019 Federal Budget Highlights

  Overview On March 19th 2019, Finance Minister Bill Morneau delivered his 4th Federal Budget since the Trudeau Liberal Government took office in 2015. After significant corporate and personal tax changes made over the past three years, Budget 2019 was light on tax changes but big on spending.  Budget 2019 projects a deficit of $14.9 […]