Entries by CorePlan Financial Inc.

Coronavirus & Market Uncertainty – $82 billion in aid for Families and Businesses

March 18, 2020 in , , /by

On March 18th, the Prime Minister, Justin Trudeau, announced a further $82 billion in support including $27 billion in direct support for Canadian workers and businesses. This is in addition to the $20 billion across the country which includes $10 billion available through the Business Development Bank of Canada (BDC) to help small and medium-sized businesses.

Coronavirus & Market Uncertainty – Federal Government $20 billion economic aid package

March 16, 2020 in , , /by

On March 13th, the Prime Minister, Justin Trudeau, outlined Canada’s response to COVID-19 including new investments to help protect Canadians and businesses. The total value of an aid package could be up to $20 billion across the country which includes $10 billion available through the Business Development Bank of Canada (BDC) to help small and medium-sized businesses. Here are some details of the programs they are funding:

Salary vs Dividend

February 29, 2020 in , /by

As a business owner, you have the ability to pay yourself a salary or dividend or a combination of both. In this article and infographic, we will examine the difference between salary and dividends and review the advantages and disadvantages of each.

Business Owners: 2019 Tax Planning Tips for the End of the Year

November 28, 2019 in , , /by

If your corporate year end is December 31, it’s a great time to review your business finances. With the federal election over and no major business tax changes for this year, 2019 is a good year to make sure you are effectively tax planning. Please keep in mind that your business may be affected by the recent tax on split income (TOSI) and the passive investment income rules given they came into effect in 2018. These rules can be complicated, please don’t hesitate to consult us and your accountant to determine how this can affect your business finances.