Find the right clinic for you the first time; there are no do-overs. Owning a clinic is like owning a dog; it’s a long-term commitment that requires constant attention. Be 100 percent sure that owning a dental practice fits your personal and … [Read more...]
Just for Dentists Newsletters
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Sep, 2022 The deadline for PST rebate is October 3, 2022!!
September 8, 2022 by
The British Columbia government allows incorporated professionals and other businesses to apply for a 100 per cent rebate of PST paid between September 17, 2020, and March 31, 2022 (“Eligible Time Period”) on purchases or leases of select machinery … [Read more...]
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Apr, 2022 The Federal Budget 2022 in a Nutshell
April 12, 2022 by
Dental Care for Canadians – Coverage will be provided beginning 2022 for those under 12 years old. In 2023 coverage will extend to those under 18 including seniors and disabled persons. Full implementation of the plan by 2025 and … [Read more...]
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Apr, 2021 Federal Budget 2021: What You Need to Know!
April 20, 2021 by
After waiting more than two years without a Federal Budget, there was a lot of angst among taxpayers fearing Draconian tax measures to help pay for the ballooning deficit. The good news is that the 724 pages of yesterday’s budget did not contain … [Read more...]
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Mar, 2021 What a tax audit will most likely focus on
March 24, 2021 by
Here is a shortlist of common tax mistakes which trigger reassessments. Automobile expenses When claiming auto expenses, you need to provide evidence supporting the auto expense allocation between business and personal use. The tax auditor … [Read more...]
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Mar, 2021 The BC Small Business Recovery Grant
March 24, 2021 by
On March 4, 2021, B.C. updated the eligibility for the Business Recovery Grant. This grant ranges from $10,000 to $30,000, depending on the size of your business. It is based on pre-COVID annual revenues as follows: Pre-COVID annual … [Read more...]
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Mar, 2021 The one-time, tax-free payment of $1,000 for B.C. Residents
March 24, 2021 by
The B.C. Recovery Benefit is a one-time, tax-free payment of: $1,000 for families with incomes under $125,000. Families earning up to $175,000 will qualify for a reduced benefit amount. Single-parent families also qualify for these benefit … [Read more...]
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Mar, 2021 The PST Rebate on Equipment Purchases
March 24, 2021 by
The British Columbia government will allow incorporated professionals and other businesses to apply for a 100 per cent rebate of PST paid between September 17, 2020 and September 30, 2021 (“Eligible Time Period”) on purchases or leases of select … [Read more...]
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Mar, 2021 Fast Tracking to Practice Ownership
March 3, 2021 by
Suffocating under a $300,000 student loan, most dental graduates decide to work as associates until the student debt is gone. If you really want to pay off your loan quickly, consider becoming an owner as soon as you can. Use a short-term … [Read more...]
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Mar, 2021 Incorporating with Student Debt
March 3, 2021 by
There is a general impression, particularly amongst young dentists, that there is no benefit to incorporate as long as they have personal debts. There are significant benefits for a new dentist if they spend less than they earn. Here’s an … [Read more...]
