Category: Canada

Available exclusively to CCPCs, the small business deduction (SBD) provides corporations with a reduced tax rate on up to $500,000 of active business profits. Profits qualifying for the SBD are taxed at a federal tax rate of 9%, compared to the general rate on business profits from active businesses of 15%. Who shares the small […]

Non-eligible dividends, also known as regular, ordinary, or small business dividends, are any dividends issued by a Canadian corporation, public or private, which are not eligible for the eligible dividend tax credit. What is an non-eligible dividend? Non-eligible dividends are generally paid out by private corporations from income that has been taxed at a lower […]

Incorporation provides greater liability protection for you as a business owner than sole proprietorships or general partnerships. Before deciding to incorporate, you’ll also have to choose whether to do so under provincial law or federal law. Should I be a sole proprietor or incorporate Canada? Sole proprietorships are relatively simple. There are fewer registration requirements […]

The Bank of Canada is the country’s sole authority for issuing bank notes and is responsible for the design, production and distribution of Canada’s bank notes. What role does the Bank of Canada play in Canada’s overall financial system? Our main role is “to promote the economic and financial welfare of Canada,” as defined in […]

Canada is a “metric” nation, having officially converted in 1970, but there is inconsistency in employing such measurements, the poll published Monday has found, with Canadians gravitating toward imperial measurements for height, weight and oven temperature. Does Canada use imperial or US? Canada follows the International Metric System. Temperatures, rainfall measures, distance, weights, velocity are […]

The Bank of Canada was formed to standardize money production in Canada away from many different private banks. Central banks support national and international markets by researching and understanding how new technologies can impact financial systems. What was the Bank of Canada purpose? Our main role is “to promote the economic and financial welfare of […]

Similar to small business owners, they need to report their income for the year and pay applicable taxes. This applies to earnings on both Uber rides and Uber Eats. They are responsible to collect, remit, and file sales tax on all ridesharing trips to the Canada Revenue Agency (CRA). How Uber taxes work Canada? If […]

The U.S. also imports nearly 7.5 million barrels of crude oil per day from non-OPEC nations. Chief among these is Canada, which supplies the U.S. with approximately 4.7 million barrels per day, significantly more than any other nation. How much oil is US importing from Canada? The United States imported nearly 3.8 million barrels of […]

The original Québec poutine now has cousins in the rest of Canada! In the United States, some restaurants of New York and New Jersey propose their own mix of fries, gravy and cheese, called « Disco Fries ». In Latin America, we can enjoy a poutine on the isolated beach of Zipolite island in Mexico. […]

Canadians are exposed to both metric and imperial units, and it is not unusual for there to be references to both metres and feet, square metres and acres, or grams and ounces in the same conversation. Does Canada measure in ounces? Canada follows the International Metric System. Temperatures, rainfall measures, distance, weights, velocity are expressed […]