Finance committee  Absolutely not. A corporation earning $250,000 is going to be paying at least a small business deduction rate at the corporate level—at least. Somewhere along the line either Eddy and I are really bad at our jobs and we haven't figured out how to make that math happen yet, or it'

Finance committee  That isn't actually correct because many businesses that are under $150,000 still compensate their shareholders via dividends versus a salary, and they do that for many reasons. One is cash flow. One of the things for a lot of these small business—because they may be start-ups o

Finance committee  You do, and you have to be taking out a significant amount of salary every single year in order to create the earned-income room for the RRSP.

Finance committee  We absolutely are. There are so many parts of these new rules that impact those start-ups. If we were to start with say, two brothers both under the age of 25 starting up a business together, they are going to be impacted by those tax on split income rules. It's not just about th

Finance committee  That's actually a very complex question. It depends on the complexity and what is going on in that company. It also depends on what level of financial statements the bank would require.

Finance committee  For a small business that has “notice to reader” financial statements, I would expect the average to be somewhere between $1,500 to $2,500.

Finance committee  It depends on the size of the accounting firm.

Finance committee  Every corporation has to file a tax return. That doesn't necessarily mean they have an accountant who does it for them.

Finance committee  I am from the Peace region of Alberta. Just for the record, I believe there the stat is that there are more arable acres in that region of Alberta than there are in the entire province of Manitoba. We have a lot of farm clients in that area, and there are corporations of farmers.

Finance committee  When their income is flowed out, there will be, say, a 50% immediate tax at the corporate level.

Finance committee  When the dividends are taken out to the individual, that tax rate can be another 45% on the remaining $50. That being said, the tax rate effectively is up to 73% to 74% depending on the province.

Finance committee  Absolutely not. It will not apply to public companies at all. The public company on inactive income would be paying 27% tax. A foreign-owned company would be paying 27% tax.

Finance committee  A private company is going to be 50% and a REIT is zero.

Finance committee  Yes, so effectively, the public company ends up with a flow-through rate of just under 50%.

Finance committee  We would. We would have to look at other options for the clients if it's now cost-prohibitive to invest in their company to save for their rainy days or to help fund their economic fluctuations. We will have to look at other ways we can do that, and some of those would be, say, I