When to Incorporate We recently published a blog post on small business corporate tax rates in British Columbia heading downwards to 11.5% on the first $500,000 by 2019. This reflects a 15% reduction in taxes from the current 13.5%. Considering that taxes are a big-ticket expense item for businesses, a 15% reduction is a huge discount. However, upcoming corporate tax rate
Small business corporate tax rates in BC heading downwards Several changes to tax legislation announced in the 2015 Canadian federal budget were recently granted Royal Assent. A measure that is highly relevant for small businesses in BC going forward is the gradual decrease in the combined federal and provincial corporate tax rates over the next 4 years, which are as follows:
BC Realtors are currently having a banner year. Record prices and record sales equate to record income for realtors. Prior to 2009, realtors were forbidden to earn their income in the form of a corporation, which means they were barred from any tax saving opportunities available to Canadian controlled private corporations (CCPCs). PREC: The Personal Real Estate Corporation, Corporate Tax Structure
MEW and COMPANY
Chartered Professional Accountants
Suite 418–788 Beatty St. Vancouver, BC V6B 2M1
Tel: 604 688 9198 | Fax: 604 688 9192
Suite 418–788 Beatty St.
Vancouver, BC V6B 2M1
Tel:604 688 9198
Fax: 604 688 9192
Lilly Woo, CPA, CA, CFE, CFP (ext. 1)
Richard Mew, CPA, CA, CFP (ext. 2)
For everything from consultation to a comprehensive corporate tax plan, call us, we’re here to help. Whether you’re an incorporated Canadian business or a Canadian individual, whether you need financial statements or a comprehensive tax and estate plan, we know how to work within the current Canadian tax laws to minimize your tax burden and maximize your net worth
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