Category: Small Biz Advice

Loans for Your Children

Loans to Adult Children Parents quite often make loans to their adult children to help them purchase a car, a home, or for other reasons. A loan is different from a gift. The parent can charge interest so that the… {Read more}

Estate Plans and RRSP’s

Estate Plans Estate planners often suggest that the RRSP/RRIF holder designate a beneficiary of the plan. There are many advantages of estate plans: Probate fees can be avoided because the funds transfer direct to the beneficiary. The funds are not… {Read more}

Company Events & Door Prizes

In a Technical Interpretation, CRA was questioned about door prizes received by all attendees at a company social function. Door Prizes at Company Functions CRA commented that their tax-free $500 gifts and awards policy would apply to all attendees including… {Read more}