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Passing Of Bill C-208 To See More Businesses Stay Within The Family

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It is good news for small family businesses, including farming and fishing enterprises, following the passing of Bill C-208. This Act proposes amendments to the Income Tax Act so that there are better tax terms when it comes to the intergenerational transfer of shares for qualifying corporations. The Bill has…

Uber Canada Shifts Base From Netherlands To Canada

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Uber Canada’s ride hailing and food delivery business is set to relocate from the Netherlands to Canada from July 1. This is the culmination of a transfer process that started in 2018. This change will put into effect sales taxes that will go to the government. Uber has confirmed that…

Canada’s Inflation Rate Reaches Decade-Long High Of 3.6%

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Statistics Canada has confirmed a 3.6% increase in the consumer price index as of May. This is the highest inflation rate since May 2011. It is also a marked increase on April’s 3.4%. This increase has been attributed to the contrast in pricing from last year when the pandemic first…

CBC Shines Spotlight On Offshore Tax Evasion

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In a Fifth Estate news report, the Canadian Broadcasting Corporation (CBC) has revived the story of how wealthy KPMG clients may be dodging taxes through secret offshore havens. This was done by highlighting the case of the Coopers. After having amassed a fortune from selling scrap metal in South Africa,…

High Percentage Of Entrepreneurs Opting To Sell Rather Than Go Public

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A recent study published by the University of Calgary indicates that there is a problem in the upscaling of businesses into public companies. While entrepreneurship continues to thrive in the Canadian market, very few of these companies end up going public. Instead, those that flourish are sold to other conglomerates…