Cash flow planning during COVID-19 (PDF, 125 KB) Opens a new window in your browser.

It’s very important to review your cash inflow and outflow, so you may potentially reduce or eliminate shortfalls, and consider whether excess amounts are being effectively used.

Tax and estate planning in uncertain times (PDF, 155 KB) Opens a new window in your browser.

This report reviews some of the tax and estate planning opportunities in uncertain times, such as when stock markets or business revenues have declined.

Video. Support and advice for business owners during COVID-19. 12:12. Opens in a popup.

Video: Support and advice for business owners during COVID-19 (12:02)

Andrew Turnbull, Senior Vice President, Business Banking and Jamie Golombek, Managing Director, Tax and Estate Planning provide small business owners with practical support and advice during COVID-19.

Transcriptfor the video support and advice for business owners during COVID-19. Opens a new window in your browser.

Video: Business owners: Overview of COVID-19 financial relief measures (2:42)

Jamie Golombek discusses the major tax changes affecting business owners, including the Canada Emergency Business Account.

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Relief measures for businesses: Canada’s COVID-19 response plan (PDF, 170 KB) Opens a new window in your browser.

The Government of Canada announced a variety of tax measures to help Canadians facing hardship as a result of the COVID-19 outbreak. This is a quick summary of the major tax changes affecting businesses.

Wage subsidy for employers: Canada’s COVID-19 response plan (PDF, 205 KB) Opens a new window in your browser.

This report discusses the temporary wage subsidy program for businesses, which is part of Canada’s COVID-19 response plan.

Video: Individuals: Overview of COVID-19 financial relief measures (2:42)

Jamie Golombek discusses the major tax changes affecting individuals, including the Canada Emergency Response Benefit and a reduction of 25% in the minimum RRIF amount for 2020.

TranscriptOpens a new window in your browser.

Personal tax measures: Canada’s COVID-19 response plan (PDF, 140 KB) Opens a new window in your browser.

The Government of Canada announced a variety of tax measures to help Canadians facing hardship as a result of the COVID-19 outbreak. This is a quick summary of the major tax changes affecting individuals.

Lower RRIF minimum withdrawals for 2020: Canada’s COVID-19 response plan (PDF, 60 KB) Opens a new window in your browser.

This report discusses a reduction of 25% in the minimum amount that must be withdrawn from a Registered Retirement Income Fund (RRIF) for 2020.

Prescribed rate loans: The 1% solution (PDF, 100 KB) Opens a new window in your browser.

Here's how to use prescribed rate loans to split income with family members.

Tax filing in the ’20s: Mining the new tax return for extra money this spring (PDF, 200 KB) Opens a new window in your browser.

The T1 Personal Income Tax Return has been redesigned for the 2019 tax year. This report lets you know where to look within the new form to claim valuable tax deductions and credits.

Video. Tax changes for 2020. 2:11. Opens in a popup.

Video: Tax changes for 2020 (2:11)

Jamie Golombek discusses some important tax changes for 2020.

Transcriptfor the video tax changes for 2020. Opens a new window in your browser.

Inside out: Fees for registered plans (PDF, 225 KB) Opens a new window in your browser.

This report reviews the tax rules surrounding the payment of fees for registered plans. It also tackles the question of the best place to pay fees based on a variety of factors, such as time horizon, rate of return and tax rates.

Video. Fees for registered plans. RRSP advantages. 2:38. Opens in a popup.

Video: Fees for registered plans – RRSP advantages (2:38)

Jamie Golombek discusses some of the tax rules regarding the payment of fees for registered plans, as well as where to pay the fees from.

Transcriptfor the video fees for registered plans: RRSP advantages. Opens a new window in your browser.

2019 year-end tax tips (PDF, 200 KB)Opens a new window in your browser.

Tax planning should be a year-round affair. But as year-end approaches, now is a particularly good time to review your finances. Take advantage of any tax planning opportunities that may be available to you before the December 31 deadline.

Video: 2019 year-end tax tips. 6:17.

Video: 2019 year-end tax tips (6:17)

Jamie Golombek discusses some tax tips that you may wish to consider as year end approaches.

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A portfolio less taxing: Understanding the taxation of investment income (PDF, 80 KB) Opens a new window in your browser.

This report reviews the tax treatment of the most common forms of investment income and deductible investment expenses.

Video: How is investment income taxed. 3:45.

Video: How is investment income taxed? (3:45)

Debbie Pearl-Weinberg describes how different types of investment income can impact the after-tax amount you get to keep.

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Hold the Holdco! Is a holding company right for you? (PDF, 80 KB) Opens a new window in your browser.

This report provides an overview of the tax consequences for use of a holding company.

2019 Federal Budget (PDF, 205 KB) Opens a new window in your browser.

The 2019 federal budget (the “Budget”) included a number of tax measures that will affect Canadian taxpayers. Rather than summarize every tax measure included in the Budget document, this report, which was prepared from within the Budget lock-up in Ottawa, will focus on some of the tax measures that are of most interest to individuals.

Retiring Right: Understanding the taxation of retirement income (PDF, 280 KB) Opens a new window in your browser.

What types of income might you receive in retirement? How much tax will you be required to pay on that retirement income? This report provides an overview of the main ways to fund your retirement and describes how each source of funds is taxed.

New passive income rules (PDF, 445 KB) Opens a new window in your browser

Learn why new tax rules may limit access to the small business deduction for CCPCs with more than $50,000 of passive income and strategies to minimize the impact.

Professional Inc. (PDF, 590 KB) Opens a new window in your browser

By understanding the tax advantages of professional corporations, some value-added financial solutions are available for professionals.

Update on the Canadian-controlled private corporation (CCPC) tax proposals (PDF, 730 KB) Opens a new window in your browser

March 2018

Jamie Golombek, Managing Director, and Debbie Pearl-Weinberg, Executive Director, Tax and Estate Planning, CIBC Financial Planning and Advice, review the proposed tax changes and set out steps to consider if you have a private corporation structure.  

Video: Update to Private Corporation Tax Changes, March 2018. 4:06.

TFSAs, a smart choice for business owners (PDF, 318 KB) Opens a new window in your browser

Incorporated business owners can choose to invest surplus funds within their corporation or to withdraw these funds and invest personally. Jamie Golombek, Managing Director, Tax and Estate Planning, CIBC Wealth Strategies Group, discusses in this article that, by investing in a TFSA, business owners will generally end up with more after-tax cash at the end of the day, especially when the time horizon is significant.
 

In Good Company: Retaining investment income in your corporation (PDF, 885 KB) Opens a new window in your browser

Jamie Golombek, Managing Director, Tax and Estate Planning, CIBC Wealth Strategies Group, examines how investment income earned in a private Canadian corporation is taxed. He shows that, due to an “investment advantage” for most types of investment income in the majority of provinces, it may be best to retain after-tax investment income in your corporation.
 

Tax tips for business owners (PDF, 133 KB) Opens a new window in your browser

Jamie Golombek, Managing Director, Tax and Estate Planning, CIBC Wealth Strategies Group, highlights the advantages and disadvantages associated with different compensation decisions of owner-managers, discusses strategies to minimize taxes, and provides advice on effectively managing business and personal finances.

Do you give your personal finances enough attention?

You may be able to find valuable opportunities to leverage your situation as a business owner. Answer these questions to determine if your personal and business financial arrangements could be better managed.


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