SAV Associates is a Toronto based Chartered Accountant firm serving the needs of Small Business Owners & Entrepreneurs in Toronto, North York and GTA (Greater Toronto Area). Tailor-made Services to Entrepreneurs and small businesses. Remaining on the cutting edge of tax law, financial trends and regulatory changes.
2015 small business CGT and superannuation strategies webinarnetwealthInvest
These are the slides presented by Keat Chew at the netwealth educational webinar on small business CGT and superannuation, at netwealth on September 17, 2015.
Keat Chew is the Head of Technical Services at netwealth Investments LTD.
For more information, please visit: https://netwealth.com.au
Our straight talking presenters cut through the complexity to deliver relevant Tax and Superannuation insights contained in the 2018 Federal Budget. In addition, our presenters recap on the Pre Financial Year End initiatives that can be considered during the tax planning season.
Year End Tax Strategies for Business Owners and Real Estate InvestorsDavid Campbell
Year End Tax Strategies for Business Owners and Real Estate Investors
In this 60 minute FREE video http://www.hasslefreecashflowinvesting.com/video/year-end-tax-strategies-for-business-owners-and-real-estate-investors/ ($39 VALUE) with professional investor David Campbell, tax strategist Amanda Han, CPA, and self-directed IRA expert Kaaren Hall, you’ll learn:
* Top 5 Year-End Tax Strategies to save you taxes for 2012 and beyond
* Strategies to pay yourself rather than the IRS
* How you can make all your own choices about your retirement investing and not rely on the stock market
* How IRA investing is different than investing with personal cash
* How to buy profitable real estate inside your IRA even when you are starting with a small balance
* Strategies for investing in real estate OUTSIDE your IRA when all of your cash is locked up INSIDE your IRA
Choosing a retirement plan for your business 2013giannem1
Discusses various types of retirement plans you may wish to consider for your business. There are a variety of retirement plans available for small businesses, each with their own nuances.
Contact me to discuss which one makes sense for your business.
2015 small business CGT and superannuation strategies webinarnetwealthInvest
These are the slides presented by Keat Chew at the netwealth educational webinar on small business CGT and superannuation, at netwealth on September 17, 2015.
Keat Chew is the Head of Technical Services at netwealth Investments LTD.
For more information, please visit: https://netwealth.com.au
Our straight talking presenters cut through the complexity to deliver relevant Tax and Superannuation insights contained in the 2018 Federal Budget. In addition, our presenters recap on the Pre Financial Year End initiatives that can be considered during the tax planning season.
Year End Tax Strategies for Business Owners and Real Estate InvestorsDavid Campbell
Year End Tax Strategies for Business Owners and Real Estate Investors
In this 60 minute FREE video http://www.hasslefreecashflowinvesting.com/video/year-end-tax-strategies-for-business-owners-and-real-estate-investors/ ($39 VALUE) with professional investor David Campbell, tax strategist Amanda Han, CPA, and self-directed IRA expert Kaaren Hall, you’ll learn:
* Top 5 Year-End Tax Strategies to save you taxes for 2012 and beyond
* Strategies to pay yourself rather than the IRS
* How you can make all your own choices about your retirement investing and not rely on the stock market
* How IRA investing is different than investing with personal cash
* How to buy profitable real estate inside your IRA even when you are starting with a small balance
* Strategies for investing in real estate OUTSIDE your IRA when all of your cash is locked up INSIDE your IRA
Choosing a retirement plan for your business 2013giannem1
Discusses various types of retirement plans you may wish to consider for your business. There are a variety of retirement plans available for small businesses, each with their own nuances.
Contact me to discuss which one makes sense for your business.
Strategic Solutions to Reduce Tax Burdens and Maximize Cash FlowBruce Jooste
Providing comprehensive tax strategies and models to businesses that once implemented typically reduce your tax burden by 20% to 40% on an annual basis.
What is Seed EIS?
Seed Enterprise Investment Scheme (SEIS) is the most
generous, tax-advantaged venture capital scheme ever
introduced that offers investors enhanced income tax
and Capital Gains Tax (CGT) reliefs.
Higher rate tax payers and profitable business owners now have a low hurdle threshold to recover up to £50,000 income tax annually.
The 2014 Budget has made this a permanent feature of UK tax savings schemes and this Guide highlights the main conditions that need to be satisfied, but the conditions are complex and you should take professional advice before making an investment.
EIS & SEIS Relief Workshop - Plus Accounting, Chartered AccountantsVictoria King
Plus Accounting held a Workshop at Myhotel in Brighton in March 2014 about the EIS and SEIS Reliefs.
Find out here how they could benefit you and your business.
This PPT explains about Angel Tax & Start-Ups:
1. What is Angel Tax?
2. What are Startups?
3. Is every startup eligible for benefit under Income Tax Act?
4. Tax Rates of Startups
5. Relaxation from Angel Tax
6. Exemptions from Angel Tax
7. Computation of Angel Tax
8. Computation of Fair Market Value of Shares, etc.
For more updated information on Angel Tax & Startups, click here: http://bit.ly/2JRvx7H
Superannuation Changes Post 2016 Australian Federal BudgetHill Rogers
Garvin Jones, Director – Superannuation & Business Solutions, Hill Rogers presents the key changes to the superannuation environment including:
- Changes to contribution limits
- Superannuation pension caps
- What to watch out for during the bring forward transitional period
- Tips on how to maximise contributions in 2016/17
Vishal Modi presented at the Science & Technology Australia Members Workshop in Brisbane. He ran through the Risks & Compliance that NFP's should take into consideration.
Please view the keynote presentation and notes from the Australian PNG Business Forum 2016 Meeting on the topic of Planning and Registering your Business in PNG.
End-of-year Tax Guide and Checklist for BusinessesMichael Burdick
Tax season for your business doesn't have to be scattered, painful, and time-consuming. Paro's End-of-year Tax Guide and Checklist for Businesses helps you get a handle on tax prep best practices, how your business structure impacts taxes, what you absolutely need to file taxes, and what your tax preparer needs from you.
Building wealth and protecting legacies for families, businesses, and those most important to them.
To learn more please visit our website: http://mfg.nm.com/
2016 tax review hints and changes, including PEASE and PEP Limitation, Alternative Minimum Tax (AMT), donations of appreciated capital gain property, qualified charitable distributions, ELOI contracts, net investment income tax (NIIT), Kiddie Tax rates and qualifications, family limited partnerships, tax reform, and the "death tax" provided by a certified CPA.
Strategic Solutions to Reduce Tax Burdens and Maximize Cash FlowBruce Jooste
Providing comprehensive tax strategies and models to businesses that once implemented typically reduce your tax burden by 20% to 40% on an annual basis.
What is Seed EIS?
Seed Enterprise Investment Scheme (SEIS) is the most
generous, tax-advantaged venture capital scheme ever
introduced that offers investors enhanced income tax
and Capital Gains Tax (CGT) reliefs.
Higher rate tax payers and profitable business owners now have a low hurdle threshold to recover up to £50,000 income tax annually.
The 2014 Budget has made this a permanent feature of UK tax savings schemes and this Guide highlights the main conditions that need to be satisfied, but the conditions are complex and you should take professional advice before making an investment.
EIS & SEIS Relief Workshop - Plus Accounting, Chartered AccountantsVictoria King
Plus Accounting held a Workshop at Myhotel in Brighton in March 2014 about the EIS and SEIS Reliefs.
Find out here how they could benefit you and your business.
This PPT explains about Angel Tax & Start-Ups:
1. What is Angel Tax?
2. What are Startups?
3. Is every startup eligible for benefit under Income Tax Act?
4. Tax Rates of Startups
5. Relaxation from Angel Tax
6. Exemptions from Angel Tax
7. Computation of Angel Tax
8. Computation of Fair Market Value of Shares, etc.
For more updated information on Angel Tax & Startups, click here: http://bit.ly/2JRvx7H
Superannuation Changes Post 2016 Australian Federal BudgetHill Rogers
Garvin Jones, Director – Superannuation & Business Solutions, Hill Rogers presents the key changes to the superannuation environment including:
- Changes to contribution limits
- Superannuation pension caps
- What to watch out for during the bring forward transitional period
- Tips on how to maximise contributions in 2016/17
Vishal Modi presented at the Science & Technology Australia Members Workshop in Brisbane. He ran through the Risks & Compliance that NFP's should take into consideration.
Please view the keynote presentation and notes from the Australian PNG Business Forum 2016 Meeting on the topic of Planning and Registering your Business in PNG.
End-of-year Tax Guide and Checklist for BusinessesMichael Burdick
Tax season for your business doesn't have to be scattered, painful, and time-consuming. Paro's End-of-year Tax Guide and Checklist for Businesses helps you get a handle on tax prep best practices, how your business structure impacts taxes, what you absolutely need to file taxes, and what your tax preparer needs from you.
Building wealth and protecting legacies for families, businesses, and those most important to them.
To learn more please visit our website: http://mfg.nm.com/
2016 tax review hints and changes, including PEASE and PEP Limitation, Alternative Minimum Tax (AMT), donations of appreciated capital gain property, qualified charitable distributions, ELOI contracts, net investment income tax (NIIT), Kiddie Tax rates and qualifications, family limited partnerships, tax reform, and the "death tax" provided by a certified CPA.
For many business owners, the major source of retirement funding is the sale of their business or assets owned by the business. Fortunately, there are a number of capital gains tax (CGT) concessions available to small business that reduce or even eliminate the capital gain on the disposal of certain assets. It is important to understand the concessions available and the eligibility requirements to ensure entitlements are maximised.
To help you navigate the changes with your pass-through entity clients, I am sharing a resource to create dialogue for your year-end tax planning with them.
We work together to provide the solutions that help your CPA firm succeed including proactive accountability to keep you moving in the right direction.
If you are ready to join the ranks of successful firms throughout the US who have realized significant benefits as a result of Firm Foundation membership and want to explore the next steps, let’s talk: 800.537.7179
Join us to learn more about how tax reform impacts nonprofits across the industry. By Congress approving the H.R. 1 Tax Cuts and Jobs Act, it significantly alters the U.S. tax code.
Tax Reform and the Impact to your Franchise by Honkamp Krueger4 2018rhauber
The recent Tax Cuts and Jobs Act aka Tax Reform has made a significant impact on the tax situation of franchise business owners. Our slide deck provides the business tax and individual tax highlights of the Tax Cuts and Jobs Act for franchise organizations.
Different types of income have different tax rates. Shift income to exploit the lower tax rates. For example, income from investments such as qualified dividends are taxed at lower rates than ordinary income. Retirement accounts defer income from high tax bracket years to lower. Business structure affects the taxes you pay. Real estate investments offset income with depreciation expenses. Don't be a HENRY!
Congress has approved H.R. 1 the Tax Cuts and Jobs Act, significantly altering the U.S. tax code. Join us to learn more about what the new legislation means for individuals and businesses, including corporations and pass through entities.
Join us for a conversation about how tax reform impacts individuals and businesses, including corporations and pass through entities.
Congress has approved H.R. 1 the Tax Cuts and Jobs Act, significantly altering the U.S. tax code. Join us to learn more about what the new legislation means for individuals and businesses, including corporations and pass through entities.
This WEBINAR is an overview about how the Tax Cuts and Jobs Act alters the U.S. tax code for individuals and businesses.
For more in-depth information and personal engagement with our team, we welcome you to join us on Tuesday, January 30th from 9-11am at our Rockville Location, 1445 Research Boulevard, Ground Level Conference Room, Rockville, MD 20850.
If an individual, partnership, estate, trust, or an S corporation
engages in an activity that is not conducted as a
for-profit business, expenses (other than cost of goods sold)
are not deductible. This rule does not apply to corporations,
other than S corporations. If an activity is considered
a for-profit business, deductions can exceed income, allowing
the resulting loss to offset other income.
There are a number of ways you can reduce your 2015 tax bill. From mitigating the effect of the Net Investment Income Tax to ideas for retirement and estate planning, CBIZ MHM has outlined several tips you can use for your year end planning in our 2015 Individual Tax Planning Supplement. We encourage you to carefully consider how the strategies discussed in the supplement will benefit you and your family. You can also contact your local CBIZ MHM professional for more information.
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
NO1 Uk Rohani Baba In Karachi Bangali Baba Karachi Online Amil Baba WorldWide...Amil baba
Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
#vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore#blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #blackmagicforlove #blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #Amilbabainuk #amilbabainspain #amilbabaindubai #Amilbabainnorway #amilbabainkrachi #amilbabainlahore #amilbabaingujranwalan #amilbabainislamabad
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
NO1 Uk Divorce problem uk all amil baba in karachi,lahore,pakistan talaq ka m...Amil Baba Dawood bangali
Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
#vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore#blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #blackmagicforlove #blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #Amilbabainuk #amilbabainspain #amilbabaindubai #Amilbabainnorway #amilbabainkrachi #amilbabainlahore #amilbabaingujranwalan #amilbabainislamabad
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries.
5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content.
6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
Sav rbc presentation- tax on split income and passive income rules v4 fdis
1. RBC Advice Event for Small
Business Owner Week
Recent Tax changes impacting small business owners
Tax on Split Income
and
Tax impact of passive Income
October 18, 2018
SAV Associates
Chartered Professional Accountants
RBC – Royal Bank of Canada
Yonge and Hollywood Branch
5001 Yonge Street, 2nd Floor
North York, Ontario M2N 6P6
2. Disclaimer
This material is for educational purposes only.
As it deals with technical matters which have
broad application, it is not practical to include
all situations. As well, the course material and
the references contained therein reflect laws
and practices which are subject to change. For
this reason a particular fact situation should be
reviewed by a qualified professional.
Although the course material has been
carefully prepared, none of the persons
involved in the preparation of the material
accepts any legal responsibility for its contents
or for any consequences arising from its use.
3. LET OUR EXPERIENCE AND COMMITMENT GET
YOU THE VALUE YOU DESERVE
Presented by
Sanjay Chadha CPA, CA, MBA
647 831 8322
sanjaychadha@savassociates.ca
CONFIDENTIAL- CONTENT OF THIS PRESENTATION IS NOT AN ADVICE AND SHOULD TO BE USED FOR EDUCATIONALPURPOSES ONLY
4. ACCOUNTING
ASSURANCE
TAXATION
BUSINESS ADVISORY
RISK ADVISORY
SAV Associates is a Toronto based Chartered Accountant firm
serving the needs of Small Business Owners & Entrepreneurs in
Toronto, North York and GTA (Greater Toronto Area).
Tailor-made Services to Entrepreneurs and small businesses
Remaining on the cutting edge of tax law, financial trends and
regulatory changes
We are supported by a team of professionals who are
nationally and internationally certified and have wealth
of experience and can provide true business consulting.
Our goal is to provide our clients with personalized
solutions designed to meet their specific needs
We value efficient, honest service that achieves
remarkable results.
CONFIDENTIAL- CONTENT OF THIS PRESENTATION IS NOT AN ADVICE AND SHOULD TO BE USED FOR EDUCATIONALPURPOSES ONLY
5. Agenda
Tax on Split
Income
Passive Income
and Small
Businesses
Confidential - Content of this presentation is not an advice and
should to be used for educational purposes only
6. Tax on Split Income
SAV Associates
Charted Professional Accountants
7. Tax on Split
Income (TOSI)
Old Rules- Pre 2018 (widely known as Kiddie Tax)
• Family members (Canadian resident) under 18 years of
age. Had a parent residing in Canada during the year.
• Purpose - Splitting income among family members of a
Canadian owned corporation
• Type of Income – Private company dividends,
shareholder loan, partnership income run by a related
person, income from Trust that is traced to one of the
sources above
• Intention – Tax planning arrangement to reducing overall
tax paid to the CRA for Income tax purposes
Result:
Income was taxed at the highest marginal rate in recipient
individual’s hand (in Ontario upto 53.5%)
Confidential - Content of this presentation is not an advice and
should to be used for educational purposes only
8. Tax on Split
Income
(TOSI)- Old
Rules
Example
Scenario 1
One Person Corporation
Profit: $100,000
Total Tax Liability: apx 35%
Confidential - Content of this presentation is not an advice and
should to be used for educational purposes only
9. Tax on Split
Income (TOSI)-
Old Rules
Example
A One-Person Corporation
Scenario 2
Splitting Income among family members to reduce tax by
paying dividend the family members
The owner
Spouse
Child 1 – over 18years old
Child 2 – under 18 years old
Confidential - Content of this presentation is not an advice and
should to be used for educational purposes only
10. Current
Legislative Limits
in ITA – Income
Splitting
Confidential - Content of this presentation is not an advice and
should to be used for educational purposes only
Income splitting was accepted by Supreme Court of Canada in
Neuman v Queen Decision
Tax Rules limiting income splitting
• Section 67 – Deduction from income must be reasonable.
• Sections 56, 74.1 to 75.1 – Income attributed back to
transferor.
• Sections 15, 246 and subsection 56(2) – Tax benefit
conferral
• Section 74.4 – Imputes income where attribution done
indirectly through corporations.
• Sections 74.1 and 60.03 – explicit permission for seniors to
split CPP and eligible pension income.
• December 13, 2017 proposal significantly expands the
scope of the TOSI rules.
11. Tax on Split
Income(TOSI)
Decision Tree
Flow Chart
Confidential - Content of this presentation is not an advice and
should to be used for educational purposes only
12. Tax on Split
Income(TOSI)
- New Rules
as of January
2018
“specified individual” - Rules expanded to include Canadian resident
family members (spouses, minor and adult children, parents and
siblings) for split income purposes
“related business” - For individuals 18 or over, rules only apply if an
amount (i.e. dividend, capital gain or interest) is derived directly or
indirectly from a “related business”
“Source individual” is an individual who at any time in the year is
resident in Canada and is related to the specified individual
“Related” if individual is your mother, father, spouse, son, daughter,
brother, and sister and any of the above as a result of marriage (e.g. son-
in-law)
For TOSI to apply (at a high level) - the business is operated by a
corporation and the source individual owns at least 10% of the total fair
market value of the corporation
If there is no business, TOSI rules may not apply
Confidential - Content of this presentation is not an advice and
should to be used for educational purposes only
13. Tax on Split
Income(TOSI)
- New Rules
as of January
2018
taxable dividends from corporations (non – listed)
income derived directly or indirectly from a “related
business” – (provided services / property or disposition of
interest in business)
income from the rental of property if a related person is
actively engaged on a regular basis in the activities or owns
an interest in the partnership or trust
interest, if other amounts would be classified as TOSI income
capital gains realized on properties the income from which is
specified as TOSI income
Confidential - Content of this presentation is not an advice and
should to be used for educational purposes only
14. Tax on Split
Income(TOSI)
- New Rules
as of January
2018
Confidential - Content of this presentation is not an advice and
should to be used for educational purposes only
ey.com
Section 120.4(2) “Split
Income” ITA
Where a specified individual
earns split income, there will
be a tax applied at the top
marginal rate
Split Income X Top Marginal
Tax Rate
15. Tax on Split Income(TOSI) - New Rules
Example
XYZ Corporation Inc Dividend paid to
daughter: $100,000
Only Source of
daughter’s Income
(over 18years old)
Daughter does not
work in the
business
Under older rules:
Apx $ 17,000
Under new rules: $
Highest Marginal
rate
Confidential - Content of this presentation is not an advice and
should to be used for educational purposes only
16. Excluded
Amounts
=
No TOSI
Income is considered excluded if one or
some of the following conditions are met:
• Inheritance Exception (Under 25 years of age) – parent of
an individual or any person if individual is full time
student
• Breakdown of relationship (Divorce) exception
• Death exception – taxable capital gain arising as a result
of death
• Income from excluded business or not related business if
18 or older
• Safe harbor capital return exception (between 18 to 24) –
reasonable return on arm’s length capital
• Reasonable return exception (over 24 years) – work
performed, property contribution, risk assumed etc.
• Unlimited Income Splitting allowed if Individual with a
contributing spouse age 65 or over in the present year
OR has died
Confidential - Content of this presentation is not an advice and
should to be used for educational purposes only
17. Income from
Excluded
Business
=
No TOSI
No TOSI - if business is excluded business
and individual is 18 or older
• for all amounts other than capital gains, individual must
be actively engaged (average 20 hours per week), on a
regular, continuous and substantial basis in the year or
any 5 previous years
• for capital gains, in any 5 previous years – if business sold
after 3 years, in business – “Tricky” - may be challenged
Confidential - Content of this presentation is not an advice and
should to be used for educational purposes only
18. Income from
Excluded
Shares
=
No TOSI
No TOSI - if 24 or older before the year and
shares are excluded shares
• less than 90% of business income is from services (business
income);
• corporation is not a professional corporation (accountant,
dentist, lawyer, medical doctor, veterinarian or chiropractor);
• individual owns 10% or more of votes and value of
corporation; and
• income of the corporation not derived directly or indirectly
from another related business – Probably to prevent business
being split into two businesses and letting specified individual
own shares in non-service business
Confidential - Content of this presentation is not an advice and
should to be used for educational purposes only
For 2018 only, 10% votes and value must be met either before
the relevant time or by the end of 2018
19. Possible Consideration to avoid TOSI
Confidential - Content of this presentation is not an advice and
should to be used for educational purposes only
• Salaries
• Consider Capital Gain Exemption crystallizations
• Convert professional corporation to a regular CCPC if it is no longer
active
• Restructure to fit within “excluded shares” definition
• TOSI vs Income Attribution (unreasonable salary)
• More option when entrepreneur turns 65
20. Passive Investment Income and
Its Impact on Small Business Tax
Reduction
Presented by
Sanjay Chadha
SAV Associates
Charted Professional Accountant
21. Grind on Small
Businesses Limit
Confidential - Content of this presentation is not an advice and
should to be used for educational purposes only
In 2018, tax on small business income at 10
percent federally
To be reduced to 9 percent in 2019
Small business limit $500,000 federally and in
most provinces (provided capital employed is
less than 10 Million)
Under the Proposals, the small business limit
will be reduced by $5 for every $1 of
investment income above a $50,000 threshold
Therefore, the Small Business Deduction Rules
(SBD) will be eliminated when investment
income reaches $150,000
Purpose -
• To remove perceived
advantage of corporations’
ability to invest in passive
investment using earnings
that were subject to
corporate tax rates (as
opposed to having to invest
with earnings subject to the
much higher personal income
tax rate).
• Therefore, to promote
fairness and neutrality, under
the new regime, earning
passive income through a
corporation or personally
should yield the same after-
tax return.
• Targets private corporations
only.
22. CRA Rules on Passive Income for Small
Businesses
The Small Business Deduction Rules (SBD) reduces
the corporate income tax that a corporation would
otherwise have to pay in a taxation year
throughout which it was a Canadian-controlled
private corporation (CCPC). A corporation’s SBD for
a taxation year is generally calculated by
multiplying its SBD rate by the lesser of its:
income for the year from an active business
carried on in Canada, excluding certain income
and exceeding certain losses;
taxable income for the year (including associated
corporations)
business limit for the year (To be tested every
year)
Confidential - Content of this presentation is not an advice and
should to be used for educational purposes only
23. Calculating CCPC’s Passive Business Limit
Reduction
• A CCPC’s passive income business limit reduction for a
particular taxation year will be the amount determined
by the formula:
• BL/$500,000 x 5 (AAII - $50,000)
• where
• BL is the CCPC’s business limit otherwise determined for
the particular year (i.e., its business limit as described
above); and
• AAII is the total of all amounts each of which is the
adjusted aggregate investment income of the CCPC, or of
any corporations with which it is associated at any time in
the particular year, for each of their taxation years that
ended in the preceding calendar year.
https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/federal-government-budgets/budget-2018-equality-
growth-strong-middle-class/passive-investment-income/small-business-deduction-rules.html
Confidential - Content of this presentation is not an advice and
should to be used for educational purposes only
• The clawback limit pertains to the
amount of investment income, and not
on the amount of small business income
in the corporation.
24. Calculating
CCPC’s Passive
Business Limit
Reduction
Example
ABC Company is a CCPC having a December 31,
2020, taxation year end, and is not associated with
any other corporations in the year. ABC Company’s
adjusted aggregate investment income for its
December 31, 2019, taxation year was $75,000.
ABC Company’s passive income business limit
reduction for its 2020 taxation year is determined
as follows:= $500,000/$500,000 x 5($75,000 -
$50,000)= 1 x 5($25,000)=$125,000
Consequently, ABC Company’s business limit for its
December 31, 2020, taxation year will be reduced
from $500,000 to $375,000 (i.e., $500,000 -
$125,000)
Confidential - Content of this presentation is not an advice and
should to be used for educational purposes only
If a corporation has $150,000 of
business income and $75,000 of
investment income, the clawback
will be 5 x ($75,000-$50,000), or
$125,000. This will reduce the small
business limit to $375,000. Since the
corporation has only $150,000 of
small business income, it will be
fully eligible for the small business
deduction.
25. Calculating
CCPC’s
Passive
Business Limit
Reduction
Example 2
Same facts as Example 1 in last slide,
except that ABC Company is associated
with XYZ Company, which had $55,000
of adjusted aggregate investment
income in its December 31, 2019,
taxation year. The entire business limit
for the 2020 taxation year was
allocated to ABC Company.
ABC Company’s passive income
business limit reduction for its 2020
taxation year is determined as
follows:= $500,000/$500,000 x
5(($75,000+$55,000) - $50,000)= 1 x
5($80,000)=$400,000
Consequently, ABC Company’s
business limit for its December 31,
2020, taxation year will be reduced
from $500,000 to $100,000 (i.e.,
$500,000 - $400,000).
Confidential - Content of this presentation is not an advice and
should to be used for educational purposes only
26. Investment Income measured by Adjusted
Aggregate Investment Income
Capital gains (and losses) on
disposition of property
Non active rental income Income earned from savings in
a non-exempt life insurance
policy
Dividend, capital gains and
interest received from an
investment
Excludes: Capital gains - on
property used in an active
business; disposition of shares to
connected CCPC; NCL C/F from
other years and Dividends from
connected corporations
Confidential - Content of this presentation is not an advice and
should to be used for educational purposes only
27. 2018 Corporate
Income Tax
Rates for Active
Business Income
ey.com
Confidential - Content of this presentation is not an advice and
should to be used for educational purposes only
28. THANK YOU
HULLMARK CENTRE AT YONGE AND SHEPPARD
3M-4773 YONGE STREET, TORONTO, ON, M2N 0G2
TEL: 647.831.8322
416.822.8570
EMAIL: INFO@SAVASSOCIATES.CA
Q&A
CONFIDENTIAL- CONTENT OF THIS PRESENTATION IS NOT AN ADVICE AND SHOULD TO BE USED FOR EDUCATIONALPURPOSES ONLY