Just for Dentists Newsletters

Justin Trudeau in his daily address has been highlighting frequently The Canada Emergency Response Benefit (“CERB”) and the Canada Emergency Wage Subsidy (“CEWS”) as unprecedented measures to help those suffering from lost income due to COVID-19. … [Read more...]

With dental offices across the country closed or only open for emergency services, access to immediate cash flow benefits is crucial. If dentists are still employing some staff or were on a salary themselves prior to the crisis then many will be … [Read more...]

Here are the highlights of the Wage Subsidy as released by Finance Minister Bill Morneau on April 1, 2020. No draft legislation has been released yet, but you can expect that the details of the program will be refined. Here is the … [Read more...]

The government just released its Economic Response Plan. Here are the changes that you should be aware of. Tax deferral-business: Businesses are able to defer payment of income tax until September 1, 2020. This deferral applies to tax balances and … [Read more...]

Investors are already facing the devastating impact of the coronavirus. The stock market went into free fall in early March, eradicating many years of investment gains. Looking at the ruins of a prosperous investment portfolio, investors are … [Read more...]

While the demand for dental treatments is stagnant, the supply of dentists is increasing steadily. Unable to fill their daily appointment books, many dentists are experiencing a decline in revenue. As more dental clinics open, there is also a … [Read more...]

You cannot start too soon getting prepared for the eventual sale of your practice. In fact you should make sure right now that you have the full entitlement of $883,000 of the capital gains exemption available. If you are expecting the sales price … [Read more...]

There is no greater reward in your dental career than working in your own practice. The unabated enthusiasm and passion for dentistry displayed by senior dentists who started their own practices attests to this. Many are still going strong after … [Read more...]

Many dentists are taking advantage of a tax strategy of converting the regular dividends from their corporations into a capital gain generating huge savings. To illustrate, the capital gains tax on $200,000 of income from the corporation is about … [Read more...]

In a recent tax and estate planning report CIBC examined the question as to how best management fees for RRSPs should be paid. Should the fees come from inside the RRSP or be paid using outside funds? Intuitively, you might think that you would … [Read more...]