Tax Consultation

FBC provides tax consultation to our farm and small business clients year-round.

In some cases, the renovation expenses qualify for the medical expense tax credit and you can claim both the Home Accessibility Tax Credit and the medical expense tax credit.
The CRA Notice of Assessment (form T451) includes your taxable income (Line 150) and your allowable registered retirement savings plan (RRSP) contributions and tax-free savings account (TFSA) limit for the current year. Be sure to compare your notice of assessment to your filed T1 or T2 tax return.
The 2016 Saskatchewan budget presented by Finance Minister Kevin Doherty brings no tax rate increases and no new taxes. The budget anticipates a deficit of $434 million for the 2016-2017 fiscal year.
2016 Saskatchewan Ministry of Agriculture Budget presented by Agriculture Minister Lyle Stewart brings increased investment to keep agriculture strong
Recent Manitoba budget reports that the financial situation for the province has worsened and the revised budget deficit for the 2015/16 fiscal year is now $1.011 billion which is up from the $422 million deficit predicted in last year’s budget.
The 2016 Federal Budget introduced draft legislation that will directly affect depreciation, Capital Cost Allowance (CCA), of intangible assets, such as, goodwill tied up in a farm or small business, licenses, customer lists, franchises, farm quotas or distribution rights.
As a self-employed individual, your deadline to file your 2015 return is midnight on June 16, 2015. Use this checklist to make sure you don't miss anything.
CRA considers that a crop share received by a landowner is rental income and not income from farming. However, you could be considered to be in the business of farming if the sharecropper is an employee who receives a crop share in lieu of salary.

“Jobs For Today & Tomorrow!” On February 25, 2016, the Honourable Charles Sousa presented his 5th budget as Minister of Finance. Continuing on its path to balance the budget in 2017-18, the government’s plan for economic growth and job creation focuses on 4 tenets:
New Brunswick Finance Minister Roger Melanson delivered the province’s 2016 budget increasing the corporate tax rate and decreasing the personal income tax.
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