Canada’s Digital Services Tax (DST) is a significant development for businesses with a digital presence. Here’s what you need to know: What is the Digital Services Tax (DST)? A DST is a tax on revenue generated by large companies from specific digital services, such as user engagement, data collection, and content creation. Key Details of […]
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Introduction Canadian businesses, especially startups, need to understand share structure from the get-go. Choosing the right setup avoids future complications and sets the stage for smooth growth. This guide explores common shares, dividend distribution, and the flexibility offered by Class A & B shares. Common Shares: Equality in Ownership, Equality in Dividends Companies with common
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Owning a Canadian corporation comes with numerous advantages, but navigating shareholder benefits and taxes can be tricky. This blog post dives into the world of shareholder benefits, clarifying key concepts like owner vs. employee benefits, adequate consideration, shareholder loans, and tax implications.’= Shareholder Benefits: Owner vs. Employee? Shareholder benefits are any perks or payments a
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The Canadian Small Business Deduction (SBD) is a welcome tax break for many Canadian-Controlled Private Corporations (CCPCs). It allows eligible corporations to reduce their taxable income, leading to lower overall corporate taxes. But understanding the mechanics of the SBD, particularly the “SBD rate,” can be a bit confusing. This blog aims to demystify the SBD
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The world of Canadian taxes can be complex, especially for small businesses. One of the most common questions we get is: “Do I need to register for GST/HST?” This blog post will break down the registration rules for small businesses in Canada, so you can determine if it applies to you. What is GST/HST? GST/HST
Do You Need to Register for GST/HST in Canada? A Guide for Small Businesses Read More »
Owning a small business in Canada comes with its fair share of challenges and rewards. One of the significant rewards is the availability of tax breaks designed to incentivize growth and investment. The Canadian Small Business Deduction (SBD) is a valuable tool for many small businesses, offering tax relief on a portion of their income.
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Title: Mastering GST/HST Return Amendments in Canada: A Complete Handbook Introduction: At CPA Pro Service, we understand the intricate challenges businesses confront when dealing with GST/HST filings in Canada. Even the most meticulous organizations may encounter discrepancies in their returns. In this exhaustive guide, we aim to assist you in mastering the process of amending
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Introduction Embarking on the journey of understanding the tax landscape surrounding Canadian Social Media Income can be akin to a dance—one that requires careful steps and a clear understanding of the rhythm. In this comprehensive guide, we delve into the intricate details of Deciphering the Tax Dance of Canadian Social Media Income. From legal considerations
