News & Announcements
Tax On Split Income (TOSI) January 2018
New tax legislation was implemented to expand TOSI rules to include related individuals over 18 years of age. Salaries, dividends and capital gains received by individuals related to shareholders are subject to new TOSI rules implemented January 1, 2018.
Starting December 13th, Finance will move forward with measures to limit tax deferral opportunities related to passive investments in a Canadian-controlled private corporation. Details will be included in the 2018 budget. When introduced, the passive investment measures will apply only on a go-forward basis and it is anticipated that the first $50,000 a year in passive income will be exempt. This is equivalent to a 5% return on $1 million in savings invested.
Scientific Research and Experimental Development (SR&ED)
SR&ED claimants be aware that if a CCPC’s taxable income exceeded $500,000 in 2017, the corporation may not be able to access the enhanced 35% Federal Investment Tax Credit (ITC) Rate and the ITC may not be refundable in 2018
Take advantage of the Scientific Research and Experimental Development (SR&ED) tax credit incentive program now.
Every year there are billions of tax dollars provided as an incentive for companies performing SR&ED activities. The rules are complex and confusing which means that many companies do not claim incentives that they are entitled to.
g9 Consulting has an exceptional success rate in helping Alberta based companies file their corporate tax return - Federal and Alberta with the complete SR&ED claim within 2 weeks of the tax year end. This ensures that you receive maximum SR&ED refundable investment tax credit dollars and a refund in the minimal amount of time.
Contact us for a free consultation today.
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