Read through this list of small business tax strategies and see how many you're currently applying to lower your income tax bill – and which ones you can start applying right now to reduce the amount of income tax you're going to owe this year if you operate a small business in Canada.
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reliable tax information and commentary to Canada's tax professionals,
significantly reducing research time. Professionals who subscribe to the Tax
Planning for Small Business Guide also find these publications instrumental to
For 2016, small business owners can use the Capital Gains Deduction to shelter
up to $824,176 of capital gains on the sale of shares of a qualifying small
business corporation. Due to the potential tax savings from accessing this
deduction, it represents one of the most compelling tax planning opportunities for
Dec 14, 2016 … According to the most recent data from the Government of Canada, 1.14 million,
or 97%, of all enterprises are classified as small businesses. Despite the varied
number of small businesses in Canada, there is one thing that all small business
owners have in common: the need for good tax-saving strategies.
Tax Planning Using Private Corporations. 9. Chart 1. General and Small
Business Corporate Income Tax Rates. Source: OECD Tax Database. Third-party
ysis recognizes the competitiveness of Canada's tax system. For example, as
illustrated in. Chart 2 below, a report by KPMG, Competitive Alternatives 2016
Aug 25, 2017 … Related: How much will Morneau's proposed tax changes cost small business?
We do the math. The newly proposed tax–planning measures will fundamentally
change the way corporate aftertax income reinvested in passive investments will
be managed. Here's an overview of the proposed changes:.