Taxation -

Taxation of individuals

Sooner or later, every individual, whether single, head of a family, employed, self-employed or retired, will have to face complex tax issues which could have an important impact on individual or family wealth.

Whether it concerns pay or compensation, retirement planning, sale of a property, protection of wealth, negotiation with tax authorities or residence for tax purposes, it is imperative to make the right choices and to undertake the necessary steps.

Effective tax planning can spare taxpayers unpleasant surprises and help them reduce significantly their tax burden, especially if they have a family or a spouse.

How we help you:

Pay or compensation: An individual may choose to diversify the types of compensation that they receive (salary, dividend, stock option plan, or other) thus reducing the tax burden or deferring a substantial portion of it.

Capital gains deduction: Every individual residing in Canada is entitled to a capital gains deduction upon the sale of qualified small business corporation shares or qualified farm property. It is therefore essential to consult a professional who will be able to guide you through the necessary steps in order to benefit from this deduction.

Purchase or sale of a property: Prior to the purchase or sale of a property, it is important to consult a professional in order to be informed of the tax consequences and the most suitable form of ownership which in turn, can reduce the tax burden considerably.

Did you know that...

The most recent budgets increased the capital gains deduction from $500,000 to $750,000?