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All items tagged with: capital gains

Keeping Businesses in the Family Through Financial Planning

Posted: October 31, 2017 By : Knowledge Bureau Staff
Posted in: Strategic Thinking , knowledge bureau, succession planning, Evelyn Jacks, Small Business, ce credits, tax course, tax preparation for proprietorships, income splitting, financial education, CE summits, business development, intergenerational issues, income sprinkling, family businesses, business builders, small business taxation, business succession, lifetime capital gains exemption, family debt management, year-end planning, tax workshops, Advising Family Businesses

Statistics show that only 30 per cent of businesses are transitioned to the next generation. However, we’re entering a time when family businesses are going to play a much more integral role in economic growth and development. Why is this, and what does that mean for advisors and tax professionals?

Capital Gains Deduction Part III: Changing the Rules, Again

Posted: October 24, 2017 By: Walter Harder
Posted in: Strategic Thinking , Tax Planning, CRA, knowledge bureau, Canada Revenue Agency, Small Business, tax changes, income splitting, tax education, entrepreneur, CE summits, Walter Harder, income sprinkling, capital gains deductions, reasonableness test, taxpayers

The federal government has recently back-tracked on their plan to limit access to the capital gains deduction available to shareholders in a family business corporation, and that’s a very good thing, as the proposals would have cost family businesses a lot of money.

Small Business Capital Gains Deduction Part II: Multiplying the Deduction

Posted: October 17, 2017 By: Walter Harder
Posted in: Strategic Thinking , CRA, dividends, knowledge bureau, Canada Revenue Agency, Evelyn Jacks, Small Business, tax education, financial education, entrepreneur, income sprinkling, Capital Gains Deduction, distributing small business income, capital gains deductions

By issuing shares in a small business to family members, it is possible to multiply the capital gains deduction available to the family. A similar strategy allows for the multiplication of the deduction for family farms or fishing operations.

Capital Gains Deduction Series, Part I: The Basics

Posted: October 10, 2017 By: Walter Harder
Posted in: Strategic Thinking , Financial Literacy, CRA, knowledge bureau, Canada Revenue Agency, income tax act, Evelyn Jacks, income tax, tax deductions, tax education, financial education, small business tax, tax benefits, taxpayer, farming tax, fishing tax, agriculture tax, Capital Gains Deduction, corporation shares, disposition dates, spousal taxation, agricultural property, fishing property, business partnership, business taxation

With proposed changes looming to the eligibility for the Lifetime Capital Gains Exemption (LCGE), which becomes the Capital Gains Deduction on the personal tax return, tax and financial advisors are well advised to review the rules and have discussions with their clients on whether any year end planning opportunities should be pursued.

Weather the Tax-Reform Storm of Complexity at the New CE Summits

Posted: October 10, 2017 By : Knowledge Bureau Staff
Posted in: Strategic Thinking , Debt Management, CRA, capital gains, Financial Advisor, investments, knowledge bureau, Canada Revenue Agency, statistics canada, Evelyn Jacks, tax courses, ce credits, wealth management, tax changes, tax education, finance canada, tax preparer, tax reform, small business tax, CE summits, tax Canada, Distinguished Advisor Workshops, financial courses, Voluntary Disclosures, family tax credits, tax planning courses, tax season, financial conferences, bookkeeper, Toronto, Winnipeg, Calgary, Vancouver

2018 is destined to be a busy season for Canadian tax preparers and financial advisors who will need to be prepared to assist their clients in addressing the many new tax changes. This year’s CE Summits will help you gain a better understanding of the tax changes that have occurred, and those to come for private business owners and their families, and will allow you to hone the technical skills necessary to effectively address them.

Poll Comment of the Month: Canadians Betrayed by Tax Proposals

Posted: September 01, 2017 VIA: Knowledge Bureau
Posted in: Strategic Thinking , Federal Government, DAC, capital gains, taxation, knowledge bureau, Evelyn Jacks, income tax, Small Business, distinguished advisor conference, Canadian economy, inflation, tax changes, tax reform, tax rates, entrepreneur, tax proposals, passive investment income tax, Knowledge Bureau poll, Liberal government, layoffs, private corporation, proprietorship, Larry Frostiak, CE Summit, Knowledge Bureau CE Summit, Knowledge Bureau Distinguished Advisor Workshops

We received dozens of thoughtful, well-crafted comments to our August poll on the proposals to tax passive investment income inside a small business corporation at top personal rates. But this “Letter to the Government” submitted by Brad is a must-read.