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Discussing various tax, accounting, financial planning, and small business issues impacting Burnaby, BC residents. Please consult with a CPA prior to implementing any of the items discussed in the posts.

Paul Lee

Dec 2, 2022

Underused Housing Tax Act

There's a new federal tax to discourage foreigners from buying and holding empty homes throughout Canada.

Paul Lee

Nov 13, 2022

Collecting GST on Tips?

Interesting court case where a banquet hall based in Ontario was found to be liable for HST on mandatory 15% gratuities.

Last Minute Attempt to Split Capital Gain with Spouse

Paul Lee

Nov 13, 2022

Last Minute Attempt to Split Capital Gain with Spouse

Mony v. The King This is a case that may be relatable to many small business owners. I have simplified the case in my own scenario below....

Paul Lee

Aug 6, 2020

Succession Planning Trap

If you want to sell your Qualified Small Business Corporation to your adult children and use up your lifetime capital gains exemption...

Paul Lee

Aug 4, 2020

Tax on Split Income

You may remember the good old days when you could split dividends paid by your private corporation with your minor child. High income...

Paul Lee

May 24, 2020

Estate Planning Basics

If you are like me, you've worked hard most of your adult life trying to accumulate wealth and making sure your loved ones have...