Insights
Practical tax and money answers for Canadian owners and professionals, written by the accountants who file the returns.
Income splitting: a pharmacy vs a medical practice
The tax on split income rules have an exception for excluded shares. To qualify as excluded shares, the corporation must not be a professional corporation
Why TOSI hits doctors harder
The tax on split income rules are designed to stop business owners from shifting income to family members in lower tax brackets by paying them dividends. I
Selling a dental practice: the lifetime capital gains exemption
The Lifetime Capital Gains Exemption lets you sell qualifying shares of your dental corporation and shelter up to $1,275,000 of capital gains in 2026. That
Is chiropractic GST exempt and what it means for your practice
Chiropractic services are GST and HST exempt under section 7 of Part II of Schedule V to the Excise Tax Act. That means you do not charge GST or HST on adj
How much tax does incorporating save a veterinarian
A Canadian-controlled private corporation pays about 11 percent on active income up to $500,000. That is 9 percent federal plus 2 percent in BC. Above $500
Who can own a pharmacy in BC
Pharmacy ownership in BC is governed by the Pharmacy Operations and Drug Scheduling Act (PODSA). Unlike medical or dental professional corporations, where
How much tax does incorporating save a doctor
A Canadian-controlled private corporation pays about 11 percent on active income up to $500,000. That is 9 percent federal and 2 percent in BC. Above $500,
What a BC dental corporation pays in tax
A Canadian-controlled private corporation pays about 11 percent on active income up to $500,000. That is 9 percent federal plus 2 percent in BC. Above $500
Who can own a veterinary practice: BC vs Alberta vs Ontario
Every province sets its own rules for who can own shares in a veterinary professional corporation. The rules are different enough that where you incorporat
Incorporating in BC Cuts Your Tax Rate to About 11 Percent. Here Is the Real Cost to Get There.
BC’s combined small business tax rate runs about 11 percent on active income left in the corporation. Here is what incorporating actually costs in BC, and when staying a sole proprietor still wins.
Contractors Pay PST on Materials. Interprovincial Truckers Often Don’t.
BC’s 7 percent PST applies differently depending on what your business actually does: contractors installing materials, and trucking fleets running more than one province, follow two separate sets of rules.
Canadian Tax Brackets 2026: Your Complete Guide to Rates Changes
Key Takeaways: At a Glance New 2026 Federal Changes: The lowest federal tax bracket rate is now a full 14% for the entire year, no longer a blended rate. Basic Personal Amount: You can earn up to $16,452 federally before paying any income tax. Inflation Adjustment:...