Taxation law in Ontario is a complex system that governs the collection of taxes at both the provincial and federal levels. It impacts individuals, businesses, and other entities operating within the province. Key Components of Ontario’s Taxation Law: Income Tax: Personal Income Tax: Individuals in Ontario are subject to both federal and provincial income tax. […]
It is ideal that your small or medium sized businesses be incorporated. Most of these businesses are controlled by just one person, a family, or maybe a small group of owners. We call these closely-held private companies. When the Canada Revenue Agency audits a closely-held private company, they pay particular attention to transactions involving the […]
As the end of the year draws near, many companies are busy putting the closing touches on any last-minute transactions, acquisitions, payout, or benefits for the corporation’s year-end. Pretty soon, it will be time to file taxes for 2021, and many business owners want to make sure they have capitalized on any potential tax savings. […]
