Brokers will probably not be directly affected by a Liberal election promise to raise corporate tax rates on insurance companies making over $1 billion a year in profits, the CEO of the national brokerage association suggests. As quoted by The…
Some brokerages might be at greater risk of being audited by Canada Revenue Agency or having to file more tax paperwork if measures proposed in Monday’s federal budget come to fruition. The federal government is proposing new requirements for corporations…
British Columbia’s income tax commissioner must re-visit a decision to bill Mutual Fire Insurance Company of British Columbia an extra $4.5 million in premium taxes and interest from the 2012 and 2013 taxation years. Mutual Fire appealed the ruling by…
Brokers who are concerned about income tax changes will find “good news” in the recently-released federal budget, a tax expert said Wednesday. Finance Minister Bill Morneau announced this past July several proposals intended to crack down on company owners who…
Before breaking for the holidays, broker-owners should consider “holding off” on paying large salaries to themselves, below new federal tax law takes effect, so they can take advantage of existing tax advantage that could end Jan. 1, an Ernst &…