Posts By: Rosie Iskander

U.S. tax reform bills have significant impact on U.S. citizens in Canada and Canadian entities conducting business in the U.S.

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Both houses of the U.S. Congress have passed different but similar U.S. tax reform bills. The differences will be reconciled by a joint committee of congress and the revised bill will be resubmitted to each of congress for approval before going to President Trump’s desk for approval. It is likely, though not certain, that the ….

A quick guide to success when buying or selling a pharmacy

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As all pharmaceutical entrepreneurs are aware, making the decision to purchase a pharmacy – or sell your existing one – is an in-depth process requiring careful consideration, including the assessment of operations pre purchase to evaluate if performance is as expected for a pharmacy, to directing lawyers on the structure of transaction and advising the ….

Selling real estate? The tax treatment may not be what you think

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Many Canadian taxpayers believe the sale of real estate typically receives a more favorable tax rate than other types of income. This is not always the case, however, and selling real estate can be fraught with issues. Our real estate industry experts share factors to consider when looking to sell homes or properties, so you can ….

Pending real estate incorporating laws may save realtors tax dollars

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Historically, real estate agents operating in Ontario have not been permitted to incorporate, because the Real Estate and Business Brokers Act to which they are subject, prohibits them from incorporating their businesses using a Personal Real Estate Corporation (PREC).  Many have considered this unfair, given incorporation is permitted for similar professionals in Ontario such as doctors, ….

How will my business be affected by the new taxation of owner-managed business? Update: Federal Government Tax changes announced October 16, 2017

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Federal Government New Taxation Changes Announced October 16th, 2017 In our recent 4-part series, we took an in-depth look at how the Department of Finance’s proposed legislative changes could affect Canadian business owners. In particular, we discussed how the new taxation could influence Passive Investments, Income Splitting, the ECGD, and Capital Gains. On October 16th, ….

How will my business be affected by the new taxation of owner-managed business? Part 4: The conversion of income into capital gains

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In the previous three parts of our series, we looked at several ways in which the Department of Finance’s proposed legislation could negatively affect Canadian business owners. In particular, we examined the proposed changes to Passive Investment, Income Splitting, and the ECGD. Today we will explore, converting income into capital gains. _______________________________________________________________________ Recap of Part ….

How will my business be affected by the new taxation of owner-managed business? Part 3: The ECGD

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Last week, we reported on how the Department of Finance’s draft legislation proposes to change the process of Income Splitting. Today, in Part 3 of our 4-Part series, we’ll look at how the legislation would affect the Enhanced Capital Gains Deduction (“ECGD”). Third Area of Concern: The Enhanced Capital Gains Deduction. The ECGD allows business ….

How will my business be affected by the new taxation of owner-managed business? Part 2: Income splitting

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Yesterday, we took a look at how the draft legislation recently released by the Department of Finance would affect taxation of passive investments. Today, in Part 2 of our 4-Part series, we’ll be focusing on the second area of concern: Income splitting (also referred to as income sprinkling). Second Area of Concern: Income Splitting Currently, ….