THE TAX PITFALLS OF SELLING QUOTA

February 01, 2019 |Thomas Blonde, Partner, Baker Tilly GWD

January 1, 2017, the Government of Canada made changes to how quota sales are taxed. Many farmers are not aware that these changes could now result in a significant taxes owing on routine quota sales and transfers where no tax was payable in the past

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INCOME SPLITTING THROUGH PRIVATE CORPORATIONS

January 01, 2019 |RBC Dominion Securities Inc.
On July 18, 2017, the Department of Finance released a consultation paper, along with draft legislation, proposing a number of tax changes that were aimed at private corporations. The changes were intended to remove the perceived unfair tax advantages...
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RETIREMENT AND ESTATE SOLUTIONS USING SURPLUS CASH IN A CORPORATION

December 01, 2018 |RBC Dominion Securities Inc.
As a business owner, you most likely rely on the income generated by your corporation’s business to fund your lifestyle. You may also hope that your business accumulates sufficient capital to meet your income needs in retirement. If so, you should consider...
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TRANSITION PLAN? WHY DO I NEED TO HAVE ONE?

November 01, 2018 |Brent DeKoning, Associate Advisor, Lorkovic Wealth Management

Have you ever talked about putting a plan in place for a transition of your farm? Reality is that every farm will be transitioned at some point in time and it will be done one of two ways. As a voluntarily transfer to a family member or 3rd party, or

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PROPRIETOR, PARTNERSHIP OR CORPORATION:HOW SHOULD I STRUCTURE MY BUSINESS?

November 01, 2018 |Thomas Blonde, Partner, Baker Tilly GWD

One of the most common questions we accountants get from our farming clients is whether to structure their business as a proprietorship, partnership or corporation

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