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By

Philip Setter
The Scientific Research & Experimental Development (SR&ED) tax incentive program began in 1944 with the aim of stimulating the Canadian economy by incentivizing research and development within the country. The Canadian government refunds over $3 billion dollars to approximately 20,000 companies every year through the SR&ED Program. Rules governing the program are contained in the...
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After many years of consistent hard work and sweat equity put into your company, your goal may be to sell your business to a third party or pass it down to a family member. This can be a very rewarding but frustrating process as you try to navigate the sale in the most tax efficient...
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In a previous post I discussed how in 2018 the Federal government legislated new rules that would affect your access to the Small Business Deduction if you had an accumulation of passive assets in your corporation or associated companies. You can read more about there here. In this post, I’m going to briefly go over two...
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In another post I went through a case study with a client who is working with other advisors that have little communication between them. In this case study my client “Brittney” hasn’t worked with any other advisors or done any prior planning. By the way, names and numbers have been changed to protect the innocent....
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In another post, I went through a case study of a client who wasn’t working with any advisors. Now let’s look at a case where the client does have advisors, however, there is little communication between them! ‘Bill’ (Age 60) came to me after coming to a few of my lunch and learns and told...
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Ahhh my poor misunderstood universal life. Universal Life (or UL) insurance was created in the early 80’s for wealthy Americans to have another mechanism to grow investments on a tax-free basis. The popularity of them grew quite substantially over the next 20 years as we had a very high interest rate environment. UL’s were used...
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I’ve found that there’s a lot of misconceptions among business owners between the difference of salary and dividend. At the end of the day business owners will need to decide how to pay themselves and it may be through salary, dividend or a combination of both. Through the theory of ‘integration’ whether you pay yourself via...
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Ahhh yes, taxes, taxes and more taxes! The biggest challenge in my business is explaining to clients that the problem even exists – and then showing them that we have a solution to a problem they didn’t even know they had. Let’s talk about what happens when you die, because unfortunately we all will pass...
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