Morneau’s federal budget announced earlier this year informed us how the government will treat passive income in a Canadian Controlled Private Corporation. (CCPC) The government’s main concern was that under the current rules a “tax deferral advantage” exists since tax on active business income is usually lower than the top personal marginal tax rate. Therefore if the corporate funds were invested for a long period of time, shareholders might end up with more after-tax amount than if it was invested personally.
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Working with a professional to help you to make sense of your finances can be a wise move, but for this relationship to work effectively it is important that you understand what to expect from your financial advisor.
http://yfgroup.ca/wp-content/uploads/2018/09/Getting_the_best_from_a-Financial_advisor.png600600YF GROUPhttp://yfgroup.ca/wp-content/uploads/2018/07/newLogoblack.pngYF GROUP2018-09-01 15:00:002018-09-01 07:14:44Getting the best from a financial advisor
The 2018 budget for Alberta focuses on the diversification of its post-recession economy, with the aim of creating more stability and less vulnerability to future fluctuations in oil prices. Read for some of the highlights