INCOME SPLITTING AND ATTRIBUTION RULES The Canadian income tax system employs a graduated tax rate system, which means that the higher your taxable income, the higher tax rate or tax bracket that applies to the income. As such, if you are in a high tax bracket and a family member is in a low tax […]
It’s supposed to be the time of life when you enjoy the fruits of your entrepreneurial labour—taking the time to travel, enjoy hobbies, spend more time with the family—activities that were often impractical or outright impossible when you were working day and night to operate and grow your business. But a recent CIBC poll sheds […]
If building a succession plan is one of the most important business considerations for entrepreneurs, the question of who takes the reins is a close second. That’s particularly relevant for business owners who hope to pass their business to one, or more, family members. As I highlighted in my last post, a 2006 report by […]
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