WorkSafeBC and Owner/Shareholder Compensation

The Workers’ Compensation Board of British Columbia (WorkSafeBC) collects insurance premiums from registered companies based on their reported payroll to cover costs associated with workplace injuries/illnesses like healthcare, wage loss and…
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Taxable Capital Employed in Canada and the Small Business Limit

Calling all small business owners! Did you know your company might have access to a significant tax advantage called the Small Business Deduction (SBD)? Eligibility depends on your company’s status as a Canadian Controlled Private Corporation…
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Income-Splitting for Private Companies

The Government of Canada has proposed technical rule changes that will reduce the tax benefits of income-splitting using private corporations, effective January 1, 2018. Background Opportunity: Canada’s tax system is designed based on…
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Taxation of Insurance for Corporations

Taxation of Insurance for Corporations If you’re incorporated, you might be wondering what the implications are of paying insurance premiums and collecting benefit proceeds through your corporation. Or perhaps you are considering offering…
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B.C. PROVINCIAL SALES TAX (PST): WHAT’S TAXABLE AND WHAT’S EXEMPT

On April 1, 2013, the province of B.C. eliminated the harmonized sales tax (HST) and returned to the federal goods and service tax (GST) plus provincial sales tax (PST) system. The B.C. PST is a retail sales tax that applies when a taxable good…
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6 BRITISH COLUMBIA TAX CREDITS

Training Tax Credit The training tax credit is for employers and apprentices who take part in apprenticeship programs administered through the Industry Training Authority (ITA). Back-to-School…
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EMPLOYMENT INSURANCE FOR BUSINESS OWNERS

You may be wondering: “As a self-employed individual, do I have access to Employment Insurance (EI) benefits?” The answer to this is: “Yes, as long as you pay into the program.” To obtain EI benefits as a self-employed individual,…
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LLP VS. INC. – WHAT’S THE DIFFERENCE?

  LIMITED LIABILITY PARTNERSHIP VS. INCORPORATION – WHAT’S THE DIFFERENCE? Thinking of starting your own small business with a colleague? Choosing the right ownership structure may be one of your earliest decisions, and with it…
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OKANAGAN MEDIA GROUP | Samantha Milligan

  Neighbors in Business is a series of interviews with Kelowna business owners, entrepreneurs and community leaders. Each article is an opportunity for us to get to know the people behind the local businesses: their story, their vision,…
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SIMPLY COMPUTING | Ken Jack

What did you do before you began your career at Simply Computing?  Prior to managing this store, I was an Assistant Manager for Walmart for eight years. I was in charge of a number of departments and involved with the opening of the…