Tax Implications Of Joint Ventures And Partnerships In Canada
Taxes can be difficult regardless of location, business type, or income level. This can be especially true of business partnerships in Canada. When two or more business entities are joined in a partnership, it has a significant impact on how each files and prepares for their taxes.
Tax Benefits Of Investing In Canadian Renewable Energy Projects
In Canada, the government offers a variety of tax benefits to individuals and businesses that engage in renewable energy projects. These incentives can promote sustainable practices and provide financial advantages for those involved in the green energy sector
Small Supplier Threshold – Who Needs To Register For GST/HST
The Goods and Services Tax (GST) and the Harmonized Sales Tax (HST) apply to the sales of goods and services in Canada and, when required, must be remitted to the Canada Revenue Agency (CRA)
Understanding Tax Obligations For An E-Commerce Business In Canada
In the past few decades, e-commerce has become an increasingly important part of the Canadian economy. Individuals eager to turn their talents and hobbies into a source of supplementary income, as well as major corporations, have taken advantage of the wider markets facilitated by the internet to find new customers for their products and services. […]
Determining GST/HST Implications For A Condo Unit: A Case Study
A 2024 judgment from the Tax Court of Canada clarified the interpretation of the Excise Tax Act for the purposes of assessing Goods and Services Tax GST on sale of items of real property, such as condominiums, in use for short-term rentals at or just prior to the time of sale.
What Is The Environmental Tax Incentive In Canada?
Countries worldwide have introduced various initiatives to tackle the challenges presented by climate change while fostering economic growth. A key initiative in Canada was the introduction of the Greenhouse Gas Pollution Pricing Act in 2019, establishing the federal pollution pricing framework. Per the Canada Revenue Agency (CRA), carbon pricing pollution refers to an effective method […]
Indigenous Business Taxation In Canada: Unique Considerations
Exploring the intricate landscape of Indigenous business taxation in Canada reveals a unique set of challenges and opportunities. Understanding the tax implications for Indigenous Peoples’ communities and businesses is crucial in navigating the complex tax environment. From personal to corporate tax measures, there are specific considerations that impact Indigenous-owned ventures and trusts. Delving into the […]
Filing Requirements In Canada For Licensed Brewers
In 2019, the Canadian Craft Brewers Association announced that 1,000 craft breweries were operating in the True North, including 269 in Ontario alone. According to Statistics Canada, beer is the most popular drink in the nation – accounting for almost 35% of all alcoholic beverage sales. Although the 2 billion liters of beer Canadians currently […]
Exploring The Tax Implications Of Offshore Financing In Canada
From the robust banking centers of the Cayman Islands to the boutique services of the Turks and Caicos Islands, there are diverse options available for offshore banking. Canadian businesses can benefit from minimal income tax, bank secrecy, and skilled trustees in offshore tax havens (which are not the same as tax shelters), ensuring confidentiality and […]
An Overview Of Canadian Provincial Taxes For Businesses
The sprawling expanse of Canada comes with a similarly vast mosaic of tax laws. Business owners need to be mindful of Canadian provincial taxes and how they could affect business operations, particularly for businesses operating in more than one province. Each province in Canada maintains the right to levy its own taxes and impose its […]