Articles from "December, 2011"
Canadian Corporate Owners Compensation – Options
One of the many complex aspects of owning a corporation is how you, as the owner, decide to compensate yourself. A business owner of a corporation can get very confused with the various options open to him or her. This article will shed a little light on a complex area. When companies usually start, the owners invest their own money. Typically, this is classified as a shareholder loan. In other words, the money is lent to the corporation by the owners to purchase supplies, equipment, [...]
Taxes for Canadian Small Businesses
Small business owners are a courageous breed. Their adventure in business is filled with many different challenges and surprises. One surprise for most of those just starting out as entrepreneurs is the mountain of taxes that they will have to deal with in their new positions. The different taxes that the business owners have to manage are: Source Deductions – when you begin paying employees, this money is withheld by the business owners from their employee’s wages for submission to the Government of Canada. GST [...]
Canadian Small Business Start-Up
Starting a small business anywhere is both thrilling and challenging. Many would-be business owners may be intimidated by the process which is not as difficult as it may seem. Although federal, provincial and municipal laws must be followed, the Canadian system is basically designed to encourage small business growth and there is a great deal of support and efficient procedures in place to aid the entrepreneur. Residency in Canada is the primary requirement necessary to begin the process. If a person wants to start a [...]
Entering Canada with a Criminal Record
A person seeking temporary or permanent residence in Canada is screened for their criminal admissibility. This screening consists of asking questions of a person, and in many cases, asking for police records for that person. If a police record reveals some causes for concern, then a person may be inadmissible to Canada. However, a temporary resident permit is one remedy that may allow a person to enter Canada despite the criminal record. Factors that are looked at include how serious the offence was, the likelihood [...]
Changes to Federal Skilled Worker Program
The Canadian Immigration Department’s changes to the Federal Skilled Worker program – June 24 2011 (as well as changes to the Entrepreneur and Investor category) are summarized below. There is a moratorium on the Entrepreneur category. This is likely an admission that the entrepreneur category was never popular owing to the onerous conditions imposed on such candidates once the visa was issued, and the emergence of more popular options for businesspersons under the various Provincial Nominee Programs across Canada. The immigration department shall restrict the [...]