While setting up a corporation may seem like a good idea if you’re self-employed, it can have serious tax consequences in certain instances. If Canada Revenue Agency determines that you are, effectively, an “incorporated employee”, it may disallow a number of business expenses as well as the small business deduction which normally applies to the [...]

Every three years, federal, provincial and territorial Finance ministers review the Canada Pension Plan (CPP) to determine if benefits and/or contribution rates should be changed. Recommendations are based on a number of factors, including whether or not the Plan is meeting the needs of Canadians. Following their review of the CPP in May 2009, the [...]

Earlier this month, the Government of Canada released its 2010 Budget. It contained a number of measures and initiatives to create and maintain jobs, to grow the Canadian economy, to strengthen Canadian Innovation and to make Canada a destination of choice for new business investment. Read the full article on the SOHO web site to [...]