Resources & Articles
Healthcare & Other Professionals
Summary of the July 18, 2017 Tax Act Proposals for Professionals
On July 18, 2017, Finance Minister Bill Morneau announced the release of a consultation paper and draft legislation to amend the Income Tax Act. The purpose...
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GST On-Call Fees
The recently released Excise and GST/HST News – No. 101 provided the Canada Revenue Agency’s interpretation Section 5 of Part II of Schedule V to...
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Can U.S. Professionals Benefit From a Professional Corporation?
The incorporation of a professional corporation has many Canadian tax advantages and, as such, is a structure that we often recommend. However, if you are...
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2017 Federal Budget Update for Professionals
On Wednesday, March 22, 2017, the Liberal government tabled their second budget. Unlike the 2016 federal budget, this budget did not introduce sweeping reforms of...
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Significant Changes to Tax Planning Related to Life Insurance Policies
The planning surrounding life insurance policies held by private corporations is a model that has been in use for the better part of two decades....
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2016 Federal Budget Summary for Professionals
For shareholders of Professional Corporations, the 2016 Federal Budget should have been received with mixed feelings. There were rumors that Canada may follow Quebec and...
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GST/HST and Dentists
Generally speaking, under Section 5 of Part II of Schedule V of the Excise Tax Act (ETA) services provided by a medical practitioner, as defined,...
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HST Changes to Acupuncture and Naturopathic Services
On February 11, 2014, the Canada Revenue Agency (CRA) made changes to the GST/HST exemption regarding acupuncture and naturopathic services. Generally, the qualifying health care...
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What Does a Liberal Government Mean for Your Professional Corporation?
A new federal government took the reins on October 19th with promises to “strengthen the middle class”. On December 7, 2015 the Finance Minister tabled...
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Use of a Professional Corporation on Retirement
For professionals, the use of a professional corporation (PC) can provide key benefits in terms of income splitting and income tax deferral. However, professionals often...
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