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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 wants your money! Proposed and Enacted Capital Gain Changes (Part 2 of Capital Gains Series)
Learn how Proposed capital gain rules impact individuals & corporations. Plan smarter to save taxes.
Elkhanagry Accounting
Jan 234 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
HST on the Sale of Short Term Rentals (Airbnb Owners – Be Aware)
This blog post will unpack the latest CRA guidelines and explain the HST implications on a sale of a Airbnb property
Elkhanagry Accounting
Nov 22, 20247 min read
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