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How Passive Income is Taxed in a Canadian Corporation
This blog explores how the CRA taxes passive income earned inside a corporation, why those rules exist, and what they mean for business owners. It breaks down the mechanics of high corporate tax rates, the Refundable Dividend Tax on Hand (RDTOH), and the Small Business Deduction (SBD) grind, showing how they limit the use of corporations as tax shelters. It also highlights strategic alternatives like the TFSA, RRSP, and FHSA, which offer benefits corporate investments can’t.
Elkhanagry Accounting
Oct 37 min read
Canada’s Gift to All Canadians: Basic Overview of Major Registered Canadian Plans
Explore Canada’s registered savings plans—RRSP, TFSA, FHSA & more. Unlock tax savings, grow wealth, and achieve your financial goals!
Elkhanagry Accounting
Jan 88 min read
Personal Tax Season is Coming - Are You Prepared? An Overview of how Canadian Personal Taxes work (2024)
Get ready for tax season! Discover 2024 deadlines, rates, and credits to maximize your return. Contact Elkhanagry Accounting today!
Elkhanagry Accounting
Dec 11, 202410 min read
Personal Service Business (PSB) Classification: What You Need to Know!
This blog examines CRA’s framework for classifying individuals as employees or independent contractors and explores PSB risks!
Elkhanagry Accounting
Dec 6, 20247 min read
Residency and Its Impact on Taxation
This blog explores Canadian tax residency rules for individuals and corporations, tax treaties, and compliance essentials!
Elkhanagry Accounting
Nov 28, 20248 min read
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