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.
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:
The B.C. government introduced another balanced budget for 2016, which includes forecast surpluses in all 4 years of the fiscal plan and modest investments in priority areas. The provincial economy is expected to grow by 2.4% in 2016 and 2.3% in 2017.
The following are 5 tax tips that you should aim for in 2016. By being conscientious about them, you could reach your financial goal before the year is over, bolstering your confidence by proving you have what it takes to accomplish your goals.
Tax planning gives farm and small business owners the ability to time business decisions for maximum tax benefit. Some decisions are best made before year-end and others are better to put off until the new year.