2025 TAX ALERT CRA's prescribed interest rateonoverdue taxesfor the first quarter of 2025 isstill high at 8%(a whopping 10% in 2024). If you are going to owe income taxes this year, make sure you file and pay taxes owing by April 30th. Interest on unpaid balances will compound pretty...
The 2024 Canadian Federal Budget introduces measures to support small business growth amidst economic pressures. Here's what you need to know. Tax Advice As we move deeper into 2024, the conversation around the economic environment for small businesses in Canada is continuing to grow in depth ...
Most small business owners in Canada really only need to know about tax rates for CCPCs and non-eligible dividends. Just to provide context:Corporations that are not CCPCs generally pay a net federal corporate tax rate of 15%. This tax rate is arrived at in a confusing way that starts wi...
Most small business owners in Canada really only need to know about tax rates for CCPCs and non-eligible dividends. Just to provide context: Corporations that are not CCPCs generally pay a net federal corporate tax rate of 15%. This tax rate is arrived at in a confusing way that starts ...
How Much Is the Small Business Deduction in Canada? The small business deduction (SBD) gives corporations a lower tax rate on active business profits of up to $500,000. Profits that qualify for the SBD get taxed at a federal tax rate of 9 percent. That’s compared to the general figure...
Year-over-year, small business employment in Canada is up by 107,200 jobs and 2.04%. Monthly growth rate: down by 0.41% Compared to the previous official benchmark of 5,342,100 jobs in May’s Labour Force Survey (published by Statistics Canada), the monthly change in June was a 0.41%...
Discover key financial literacy statistics for Canadian small businesses in 2024 and learn how boosting your financial skills can lead to better business decisions.
too. You can choose how to distribute the income your business generates and take advantage of tax benefits like charitable donations and income splitting. Not only that, but the lower corporate tax rate also makes it cheaper for you to reinvest profits, and helps you grow your bu...
Pay with Wise Business >> Send fast and secure cross-currency payments at the mid-market exchange rate No minimum balance requirement and no monthly fees Integrates with QuickBooks, Xero, Sage, and more What Small Businesses Should Look for in a VPN ...
Revolut Business Advantages Foreign exchange is done at the mid-market rate; Hold and exchange 28 currencies, and get paid like a local in the UK; Provide cards to your team, and manage company-wide expenses; Connect to apps and accounting software for your business. Revolut Business Disadvanta...