Report on Small Business newsletter: Proposed tax changes spark Curiosity about alternative financial strategies

Posted by on September 8, 2017


Proposed tax changes spark curiosity about alternative financial strategies

Ottawa’s suggestion to alter the tax structure for integrated businesses has a lot of owners looking at alternative approaches to shield earnings for retirement and estate planning.

Tax experts are fielding an increasing number of calls from small-business owners concerning the advantages and disadvantages of setting up vehicles like Individual Pension Plans (IPPs) and corporate-owned life-insurance policies.

The questions come as the Liberal government proposes to limit the usage of private corporations for making passive investments unrelated to the organization. Some business owners are using their businesses as a retirement vehicle by investing earnings within the business in a lower tax rate than when they had been pulled out and spent personally. Full story ()

Here is the weekly Report on Small Business newsletter. If you are reading this on the internet or someone forwarded this email newsletter to you, you may register for the Report on Small Business and all Globe newsletters . Have any feedback? Let us know what you .

Tax changes are about levelling the playing field

I understand firsthand that operating a business is hard work. It involves taking risks, suffering setbacks and often a whole lot of sacrifice. As Canada’s Finance Minister, I am committed to making sure that this hard work is rewarded, so that companies small and large have the ability to invest, expand and create jobs.

Why You Need to care Our civil-justice system is broken

Canada is always touted as one of the best countries in which to live, but it ranks an unimpressive 112 from 190 countries according to the World Bank’s enforcing contracts index. For good reason: Our civil-justice system is on the fritz. Litigating a civil claim (e.g. contract claim, land rights claim, etc.) can take several years and cost tens or hundreds of thousands of dollars.

The way the first 20 minutes of your day can set you up for success

You know about that morning-routine thing: Everybody raves that waking up early and sticking to your routine can help you to get more done. But if you get out of bed at 5 a.m. or 3 pm, it is the first 20 minutes of your day that could set you up for success.

Kik’s coin offering a potential test for regulators

The hype about cryptocurrencies and first coin offerings has one of Canada’s highest-valued startups jumping headfirst into the crowdfunding match in what could be the biggest sale of digital currency by a Canadian firm.

More small business news from around the Net

Ottawa teenager’s low-cost smartphone to take on Apple, Samsung

Moe Omernbsp;is going to take on technology giants Apple and Samsungnbsp;with the launching of his own smartphonenbsp;following week, with one noticeable difference between him and rivalry. He is launching the phone with a few of the features you’d expect in most mid-range telephones, but for only $180. Oh, and he is only 17 years old.

Ontario announces hydro pricing pilot projects

The Ontario Energy Board (OEB)nbsp;nbsp;new pilot projects this week that will allow customers in a number of areas to tailor their obligations for power to match the times they use it {}.

My quest to conduct my 1,000-person business from a Cell Phone

In meetings, I will see people raising their eyebrows. What is this guy doing staring into his mobile phone? Is he paying attention? Yes, I am. The reality is, for the last year, I have been steadily weaning myself from my MacBook and relying increasingly more on my iPhone for work. .

Courtesy: The Globe And Mail

Posted in: Business Tidbits

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