Blog | FBC, Canada's Farm & Small Business Tax Specialist

Department of Finance Defines Rules on Income Sprinkling

Dec 14, 2017
Revised measures to the treatment of income sprinkling are designed to ensure that they do not affect family members who make meaningful contributions to a family business. The measures include several automatic, bright-line tests.

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Understand the tax ramifications of shareholder loans to avoid significant taxes owing

Corporation Loans Count as Taxable Income

Nov 22, 2017
When shareholders borrow money from a corporation, that money is generally considered taxable income. But this rule, like many CRA rules, has exceptions.

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BC Wildfire Recovery Programs Available for Farmers, Small Business Owners and Families

Nov 09, 2017
To assist families and businesses in recovering from the damages caused by emergencies both this year and in future years, the Province is developing a recovery plan and working to deliver support as and where they are needed.

Tags: Farm Taxes, Small Business Taxes, Tax Consultation

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What to Expect from Accounting Professionals Regarding Your Family Business Taxes

Nov 08, 2017
Accounting professionals can help family run businesses in Canada manage their business accounts, minimize taxes, maximize profits, and save money.

Tags: Audit Representation, Farm Taxes, Small Business Taxes, Tax Planning, Tax Preparation

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Converting Regular Income to Capital Gains

Oct 19, 2017
Government not moving forward with small business tax measures relating to the conversion of income into capital gains.

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Proposed Changes to How Passive Income is Taxed

Oct 18, 2017
Finance Minister Bill Morneau issued an announcement outlining how he intends to proceed with changes to how passive income earned in private companies is taxed.

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Small Business Tax Savings for Farmers

Oct 18, 2017
The income for Canadian farmers is rising. So too is the value of their machinery and equipment. The tax consultants at FBC can help farm operators take advantage of the various tax savings and deductions available to them.

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Changes to the Federal Tax Proposals Announced

Oct 16, 2017
While the government stated that it is committed to its proposed private company tax measures to address tax planning involving income sprinkling effective January 1, 2018, it is cancelling changes to limit access to the Lifetime Capital Gains Exemption (LCGE).

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Voice Your Concerns Regarding Looming Tax Hikes

Sep 26, 2017
Voice your concern about the proposed amendments to how private corporations and small businesses will be taxed. Actions you can take include email Members of Parliament and sign petitions.

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3 Ways New Tax Legislation Will Increase Taxes for Farmers

Sep 22, 2017
There are many proposed small business tax changes which can lead to higher taxes; but 3 key items stand out for farmers: Sharing Income, Excess Cash Reserves, and Intergenerational Transfers

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