Finance Canada Is Considering Major Changes to How Corporations Are Taxed
The Department of Finance Canada is considering major changes to how corporations are taxed. The proposed rules could have a significant impact on many Canadian businesses: potentially raising taxes, increasing the administrative burden on SMEs and heightening the impact on family-run businesses.
On July 18, Finance Canada launched a consultation on how “tax-planning strategies involving corporations are being used to gain unfair tax advantages.” The document contains proposed policies to close these “loopholes.” There are four key changes that will affect business:
1. Sprinkling income using private corporations: The government wants to tighten rules to prevent a business owner from unfairly transferring income to family members who are subject to lower personal tax rates. In certain circumstances, owners would have to demonstrate that wages and dividend payments are “reasonable.” More
Lights! Camera! Cambridge!
The City of Cambridge is a leader when it comes to film activity in the Region of Waterloo! We welcome over a dozen projects annually, which bring excitement and activity to various locations throughout the city. The film industry employs over 32,000 people throughout Ontario and infuses over $1.5 billion dollars into the provincial economy – and Cambridge is proud to play its part! More
Each month The Chamber features members as our Profile Businesses of the Month! It’s a monthly feature favourite, where local businesses have the opportunity to tell other Chamber members – and the public – about who they are and what they do. View this months Member Profiles.
Our Cambridge.... A Gift to the World
Our Cambridge ... A Gift to the World showcases Galt, Preston and Hespeler with their rivers, incredible historic architecture and hi-tech companies. This has made for a wonderful project...a collection of images and a gift book that corporations, residents and visitors will simply love.
The Book is a hard cover, jacketed coffee table book, great for your home, office or as a gift to visiting customers and suppliers. Click here to purchase your copy.