Jamie Golombek is Managing Director, Tax and Estate Planning at CIBC Private Wealth Management, where he works closely with advisors and clients from CIBC Private Wealth Management, Wood Gundy, Imperial Service and other CIBC partners to deliver integrated financial planning and strong advisory solutions. Jamie is quoted frequently in the national media as an expert on taxation.
Harsh penalties can be assessed years later
Case outlines the repercussions of not doing so
One business owner discovered the downside of paying helpers in food instead of cash
Business owners must file employee T4 slips on time or face fines.
A recent Federal Court of Appeal decision reminds business owners how important it is to file their corporate returns on time.
For a Canadian-controlled private corporation, the first $500,000 of active business income is generally taxed at low corporate tax rates.
For a Canadian-controlled private corporation, the first $500,000 of active business income is generally taxed at low corporate tax rates.
Legal fees are tax deductible in limited situations. For employees, fees are deductible if they’re paid “to collect or to establish a right to salary or wages owed”
Ensure clients watch for assessments from CRA
A common question about pensions is, “Should you take your pension or opt for a lump sum, which can then be (partially) transferred into a locked-in retirement account?”