Taxes in Canada. Personal Tax and Business Tax in Canada.

Taxes in Canada 2019

While complicated and hard to navigate, tax system in Canada offers various benefits and opportunities for business owners. In this video, I will overview the general characteristics of the tax system and show you where to pay your attention and how to get prepared for the effective tax planning.

As a main point of advice – always plan your taxes and seek solutions at the beginning of your business year, not at its end when most opportunities are no longer available.

TimeLine
1:11 Personal Tax vs. Business Tax
1:34 Federal Tax + Provincial Tax
2:04 Tax Credits and Subsidies
2:19 Always plan your Taxes at the Beginning of a year.
2:40 Personal tax is Progressive
2:52 50%!!! of TAX
3:52 Corporate Tax is a Linear Tax
4:06 Basic Corporate Tax = 31%
4:26 CCPC = 13% Corporate Tax
5:35 SR&ED – Tax Credit
6:53 Dividends / Salary – Different Tax Results
8:06 Retain the Earnings in the Company – deferred tax.




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All information provided in this video is for informational and reference purpose only. Nothing contained herein shall be considered as a legal advice or instructions to be acted upon. CBES – Canadian Business and Enterprise Services does not offer legal advice online or on its YouTube channel. Please consult a professional before you act in reliance on the information contained in our videos.