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Webinar – How to Stress Test Your Business

Webinar – How to Stress Test Your Business

We are in the midst of a remarkable economic period. A few weeks ago, ‘inverted yield curves’ brought predictions of an impending recession. In September, the TSX reached a record high and unemployment levels hit historic lows. But warning signs and threats persist, including on-going trade wars, geopolitical tensions in the EU and Middle East, […]

Mortgage Your Own Property – A Different Kind of RRSP Investment

Mortgage Your Own Property – A Different Kind of RRSP Investment

Have you ever considered the possibility of lending yourself money in the form of a mortgage through your RRSP on a property you own?

What if you had enough money invested in your Registered Retirement Savings Plan (RRSP) to cover the remaining cost? Legally, an RRSP cannot own a piece of real estate, but it can lend money, in the form of a mortgage, for a piece of property. Many people are not aware of this option.

Personal Services Business – Avoid the Trap

Personal Services Business – Avoid the Trap

The last thing you want when you incorporate your business is for the Canada Revenue Agency (CRA) to label you a personal services business (PSB).

If CRA determines an incorporated individual working as a contractor is just an employee of the company they are working for, they would be deemed a PSB.

There are many advantages to incorporating, and despite the possible pitfalls, it may be beneficial for you to do so. But, it’s complicated and can be confusing. Talk to a tax specialist before you decide.