by Marlin Lucuk | Mar 6, 2023 | Tax Planning
With the 2021 Federal budget, the Government of Canada announced a new one percent annual tax on residential properties that are underutilized or vacant, the Underused House Tax (UHT). As of January 1, 2022, this new tax act came into effect. Although the criteria for... 
by Marlin Lucuk | Jun 20, 2022 | Corporate, Tax Planning
Most Canadian business owners have dealt with the Canada Revenue Agency (CRA) at some point or another. Thankfully today’s technology makes it easier for business owners and their authorized representatives to access corporate income tax, payroll, GST/HST and excise... 
by Marlin Lucuk | Aug 15, 2024 | Corporate, Bookkeeping, Tax Planning
Understanding the difference between audited and unaudited financial statements is crucial for small business owners. Whether you’re running a local auto shop or a family-owned construction company in Grande Prairie, Alberta, knowing when and why to use each... 
by Marlin Lucuk | Dec 15, 2023 | Corporate, Tax Planning
What is a Holding Company? A holding company owns a controlling interest in other companies’ outstanding stock, often referred to as “subsidiaries” or “holdings”. Owners are usually not involved directly in the day-to-day operations to produce goods or services of... 
by Marlin Lucuk | Feb 15, 2024 | Corporate, Tax Planning
As Canadians begin collecting tax documents and preparing for annual filings, more will be reporting on trust arrangements thanks to new reporting requirements from the Canadian Revenue Agency. In this month’s blog, we’ll summarize what a trust is, what the reporting... 
by Marlin Lucuk | Apr 15, 2024 | Corporate, Tax Planning
Grande Prairie is known for its entrepreneurial spirit. If you’re interested in launching a new idea, or you’ve grown your reputation as a solopreneur, your next step to contemplate could be incorporation. To determine if incorporation is the right choice for your...