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Canadian Pacific: 19th-century contract makes it “forever free from taxation”
Introduction First Capital CP MTS Gildan Brookfield Cameco Full Ranking Methodology Over the past decade Canadian Pacific paid just $138 million in cash taxes—which amounts to just 2% of its pre-tax...
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Gildan Activewear: How the government made it easier to avoid paying taxes
Introduction First Capital CP MTS Gildan Brookfield Cameco Full Ranking Methodology In 1999, Montreal apparel company Gildan Activewear established a subsidiary in Barbados to handle all of its...
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First Capital Realty: Keeping properties in development keeps its tax low
Introduction First Capital CP MTS Gildan Brookfield Cameco Full Ranking Methodology Real estate corporations by their nature are tax efficient, but even then, First Capital Realty stands out. Over the...
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Brookfield Asset Management: Offshore strategy keeps taxes at bay
Introduction First Capital CP MTS Gildan Brookfield Cameco Full Ranking Methodology Remember the income trust? This “flow-through” corporate structure gained popularity during the early 2000s because...
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Which large companies pay the least tax?
Introduction First Capital CP MTS Gildan Brookfield Cameco Full Ranking Methodology The corporations below pay an unusually small amount in cash taxes compared to their pre-tax income. Read the...
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Why are some Canadian companies paying almost no tax?
Introduction First Capital CP MTS Gildan Brookfield Cameco Full Ranking Methodology How much income tax do you pay? Forty per cent? More? Lately the government has become obsessed with making everyone...
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It’s time to admit that plastic bag fees aren’t actually working: Peter Shawn...
(Steve Gallagher/Cultura/Getty) Canadian author Malcolm Gladwell’s first really big idea was his 2000 bestseller The Tipping Point. Like viruses, he argued, ideas, trends and fashions could quickly...
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How Jonathan Suter built a company by letting customers pay what they want
By keeping expenses low, Jonathan Suter was able to make his tax-filing service donation-only. (Pooya Nabei) Jonathan suter founded SimpleTax three years ago with his wife Allison (a former tax...
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Is it possible for a corporation to be patriotic?: Chris MacDonald
The California and American flags hanging in a Walmart in Palmdale, Calif. But what makes a company “American”? (David McNew/Getty) What makes a Canadian company Canadian? What is it that makes an...
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What value does Tim Hortons really see in Burger King?
Tim Hortons’ previous dalliances with American companies were unsuccessful. What does it see in Burger King now? (Justin Sullivan/Getty; Ann Baekken) The proposed marriage between Tim Hortons and...
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How today’s EI premium cut makes the tax code even more complicated: Stephen...
Federal Finance Minister Joe Oliver (Yasser Al-Zayyat/AFP/Getty) There was a lot of talk about job creation leading up to the federal government’s announcement of a reduction in employer contributions...
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The Small Business Job Credit actually makes it weirdly profitable to fire...
Given the weak state of the labour market in many parts of Canada, government has a role to create a more attractive environment for business to hire new workers. As such, I was enthused to hear that...
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Amid a rising tide of tax credits, we need to simplify the tax code
The way Canada taxes company cars is considered a model for the world because of its simplicity and neutrality. The same can’t be said of the rest of the tax code. (Image Source/Getty) Hey, Sierra...
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There’s no reason to raise the TFSA contribution limit
(Getty) In the 2011 election campaign, the Conservatives promised to double the contribution limit for Tax-Free Savings Accounts during their next term when the budget reached balance. We’re now...
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Time to scrap the seniors’ discount
(Farmhouse/Getty) With half a million baby boomers turning 65 every year in Canada, the seniors’ discount has become a ubiquitous—and, for many, eagerly anticipated—fixture of the modern marketplace....
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How big is Canada’s underground economy? $42 billion
(Amanda Rohde/Getty) Statistics Canada recently released this report on the underground economy in Canada—essentially an attempt to gauge the extent of “market-based economic activities, whether legal...
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Why the Liberals’ child tax benefit proposal makes a lot of sense
(Sammy Dallal/Washington Post/Getty) Over 25 years ago, Canada vowed to end child poverty. This week, a policy proposal was released that is intended to get us there. The Liberal Party of Canada...
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Think Canada’s “tampon tax” is gone? Think again
(Sporrer/Rupp/Getty) The federal government recently announced that it is killing the “tampon tax,” effective July 1st, by removing the GST on products that are “marketed exclusively for feminine...
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Why a little income inequality might be a good thing
A certain sameness…. Fishing huts in Bohuslan, Sweden. (Christian Aslund/Getty) Income inequality is the top global issue of 2015, says the World Economic Forum. As if to prove this claim, federal...
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How the party leaders could cool the housing market—and why they won’t
Liberal Party leader Justin Trudeau at a campaign stop in Vancouver, September 10, 2015 (Jonathan Hayward/CP) Deficits and the refugee crisis are the issues dominating the federal election campaign,...
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Eight things to watch for in the budget (beyond the deficit’s size)
Finance Minister Bill Morneau speaking in Calgary in January 2016. (Paul Chiasson/CP) When the federal budget is released on Tuesday, the two big questions economists and pundits will have are “how big...
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Four ways to make tax time less painful for small business
(Chris Cross/Getty) Ian DiNovo has been settling small business owners’ concerns about accounting matters for 16 years. At his firm, the Certified General Accountant—who also vlogs about tax planning...
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Why Canada’s inefficient corporate tax rules need to be streamlined
(Hero Images/Getty) A new survey on Canadian corporate tax published by PricewaterhouseCoopers uncovers numerous inefficiencies in Canada’s current tax policies. “Corporate income tax (CIT) gets most...
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Five things freelancers need to know about filing their taxes
(Oscar Wong/Getty) If you’re among the nearly 3 million Canadians that Statistics Canada defines as self-employed, you know that doing your taxes is a bit more involved—and higher-stakes—than simply...
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Changes to the small business tax rate have entrepreneurs on guard
(Hero Images/Getty) Prime Minister Justin Trudeau’s mandate letter to the new Minister of Small Business and Tourism last November contained a somewhat puzzling directive. The ministry was to ensure...
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Why we should stop giving small businesses big tax breaks
(Alija/Getty) Canada’s small-business lobby disliked the federal budget. The Canadian Federation of Independent Business (CFIB) grumbled about a “number of broken promises.” Top of the list was Finance...
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What’s the TFSA limit? Here’s the maximum you can contribute for 2017
The TFSA limit determines how much you can deposit in your Tax-Free Savings Account each year. The TFSA limit for 2017: .tfsa-tbl { width: 100%; } .tfsa-tbl td, .tfsa-tbl th { font-family: sans-serif;...
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10 ways the 2017 federal budget could affect your personal finances
Federal Finance Minister Bill Morneau and his Economic Advisory Council chair, Dominic Barton, at a press conference in October 2016. (Adrian Wyld/CP) The federal budget to be released this Wednesday...
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Seven changes to business taxes in Canada’s 2017 federal budget
Here is the good news in this year’s federal budget: There are no new taxes for investors. The bad news is there is not much new to help entrepreneurs and business owners. In fact, what’s not in this...
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Will Bill Morneau’s crackdown on tax avoidance work?
Federal Finance Minister Bill Morneau. (Adrian Wyld/CP) Finance Minister Bill Morneau delivered on a promise from Budget 2017 by releasing a consultation paper on the taxation of small business...
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It’s time for some straight talk about the fairness of the tax system
Finance Minister Bill Morneau speaking in Calgary in January 2016. The Bank of Canada is looking to the federal government for fiscal leadership. (Paul Chiasson/CP) Finance Minister Bill Morneau...
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How Bill Morneau found himself at war with small business
Finance Minister Bill Morneau. (Chris Young/CP) Bill Morneau’s Twitter feed isn’t typically a place of high drama. Nor is it usually a place of low drama—or any drama, for that matter. Canada’s...
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Inside Ottawa’s crackdown on small business tax loopholes
Finance Minister Bill Morneau speaking in January 2016. (Cole Burston/Bloomberg/Getty) Consider yourself excused if you’re confused about the growing noise over the Liberals’ latest small business tax...
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Down on the farm: tax reforms will hurt family businesses
(Annie Spratt/Unsplash) Until recently, two things were certain in life: death and taxes. We can now add a third one: botching the promotion of a tax reform for political gains. Finance Minister Bill...
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Framing their tax reforms in moral terms has backfired for the Liberals
Federal Finance Minister Bill Morneau. (Adrian Wyld/CP) It’s fun these days watching Pierre Poilievre go after Bill Morneau on the government’s proposed tax changes. Poilievre is the Conservative...
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Canadians understand the proposed new tax rules—that’s why they’re mad
(Helloquence/Unsplash) Canadians may not always get the tax math, but they do get tax fairness. That’s why the controversial proposals to dramatically change the taxation of private business in Canada...
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Why the Liberals’ tax reform plan is on the ropes, and how it could be salvaged
Finance Minister Bill Morneau speaking in January 2016. (Cole Burston/Bloomberg/Getty) I went to a town hall meeting on tax reform held recently by my local (Liberal) MP. It wasn’t pretty. Despite his...
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10 ways to actually bring fair tax relief to Canada’s middle class
Prime Minister Justin Trudeau and Minister of Finance Bill Morneau. (Sean Kilpatrick/CP) Finance Minister Morneau wants to help the middle class prosper and make the tax system fairer. As we have seen,...
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This is Kickstart—the daily morning management briefing on innovation, leadership, technology and the economy from the editors of Canadian Business. Sign up to get it directly to your inbox each...
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What’s next in Bill Morneau’s tax reform playbook?
(Stefan Stefancik/Unsplash) We’ve seen a flurry of comments from small business and tax planning industry groups as the government’s consultation on corporate tax changes came to a close this week....
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