Small business tax rate canada

Share to Twitter Share to Linkedin Langdon Hall Country House , Hotel & Spa, located in Cambridge, Ontario, is a renowned luxury property that provides world-class amenities and spa treatments to its guests. With 60 luxurious guest rooms, this Relais & Chateaux property is dedicated to sustainability and reducing its waste footprint. This is why the hotel has recently announced its partnership with The Keep Refillery to launch the first hotel refillery in the province. This partnership will help Langdon Hall reduce its waste and become a leader in the hospitality industry. The Keep Refillery will help Langdon Hall transition to a circular refilling program for all its in-room amenities. This will prevent over 2,000 plastic bottles from ending up in landfills and waterways and will significantly reduce the hotel's waste footprint. The refilling stations will be set up for housekeeping staff to refill in-room essentials, such as shampoo, conditioner, … [Read more...] about Canada’s Langdon Hall Launches First Hotel Refillery

Representative image. Banks are likely to raise interest rates on Fixed Deposits (FD) because of impending competition from a new savings scheme announced in Budget 2023 that offers an annual rate of 7.5 percent, experts said. The Mahila Samman Savings Certificate will provide a competitive interest rate of 7.5 percent on deposits maturing after two years. Experts said banks will have to keep a check on how this plays out for them and work on their FD rates. “Banks are playing smart by providing high interest rates for selective tenures, which has partially worked out for them. But they are likely to work on hiking interest rates for FDs,” said Chandan Sinha, former executive director of the Reserve Bank of India. Other than the new scheme, experts said banks may see some competition for deposits in the coming months from the existing Senior Citizen Savings Scheme and Monthly Income Account Scheme that saw an enhancement in deposit limits from Budget 2023 . “The … [Read more...] about Banks likely to hike FD rates in line with new savings scheme in budget 2023, experts say

Share to Twitter Share to Linkedin As the COVID-19 pandemic recedes many medical testing services businesses have been diversifying and bringing to market new products aimed at the growing health and wellbeing market. For example, blood and DNA testing and screening services. The VAT status of these new offerings is not always clear and recent VAT case-law, and commentary issued by HMRC, leaves some grey areas for interpretation, with risks for tax compliance. One of the considerations when innovating and developing new products is the question of whether or not the contemplated supplies fall under the VAT exemption for medical care. As with all exceptions to standard rating, the medical care exemption is applied narrowly and has a series of conditions that all have to be met. There is also a ‘cliff-edge’ in the impact between having to account for VAT (at the standard rate of 20% in the UK) and exempt treatment; the possible addition of 20% VAT either makes … [Read more...] about Medical Testing Services – Tax Considerations Of New Activities

RBI Governor Shaktikanta Das If you thought the good news stopped with the Budget 2023 slashing the tax burden on individuals, think again. The budget proposals are also likely to help stop the interest rate hikes by the Reserve Bank of India that have been raising your EMIs since last year. The Budget’s fiscal rectitude would be music to the ears of the members of RBI’s interest rate-setting panel. Finance Minister Nirmala Sitharaman not only met her deficit target for the current fiscal year and announced a lower target for the next but she also said that she would stick to the medium-term aim of below 4.5 percent of the GDP. The RBI’s monetary policy committee, which has been waging a war on red-hot inflation over the last year, is widely expected to raise interest rates by another 25 basis points when it meets February 6-8. The panel has raised interest rates by 225 basis points since April 2022. In October, the central bank failed to meet its inflation mandate after … [Read more...] about How Budget 2023 paves the way for RBI to pause rate hike after February

The budget managed to keep the focus intact on infrastructure, long-term capacity building, and much-needed tweaks to the taxation framework to optimise tax mobilisation. Given the needs of the Indian economy and the government’s previously outlined economic vision for the next 25 years, expectations were indeed high from Budget 2023. However, there were other realistic aspects like the lingering fiscal impact of COVID-19 relief measures, persisting global inflation in the last few quarters, rising interest rates and slowing economic growth, that kept the expectations in check. In such a situation, the Budget presented by the Finance Minister successfully tread the tightrope and checks all the right boxes. Most importantly, the Budget has affirmed the government’s resolve to stay on the fiscal consolidation course. Other than maintaining macroeconomic stability by operating within means, the budget managed to keep the focus intact on infrastructure, long-term capacity building, … [Read more...] about Tax changes in Budget 2023 to boost consumption & savings

Share to Twitter Share to Linkedin Ryan Brennan, Managing Director, Advantage Capital . As the post-pandemic economy navigates its ongoing downturn, the road to financial well-being and realizing wealth creation begins with a concerted effort around growing local small businesses. Entrepreneurs and business owners help create the jobs required to uplift areas in need of more economic opportunity. But those overlooked and underserved areas also require access to capital to produce the positive impact that can course-correct a lackluster economy. The impact of accessible capital doesn’t stop at the storefront —it can have a ripple effect of strengthening surrounding communities. The Business Opportunity In Rural And Economically Challenged Urban Areas For undercapitalized parts of the country—the regions where, all too often, lenders and investors have been less likely to support small businesses—a double-bottom line approach to investing may be … [Read more...] about How Incentives Help Ensure Investments Reach The Right Areas

Share to Twitter Share to Linkedin Active listening is a skill that needs to be cultivated to be an effective leader, and often, employees can be your best source of inspiration for this. They know the day-to-day concerns of the company and can offer unique, valuable insights and perspectives. However, leaders tend to be pulled in many different directions each day. They often feel they need to make quick, executive decisions without consulting others, sometimes to the detriment of the business. Here, a panel of Forbes Business Council members share their best tips for managers who want to improve their active listening skills to create a more comfortable, successful business environment. 1. Follow Up On Feedback Aside from common active listening practices such as paying attention to nonverbal cues and uninterrupted communication, it all comes down to action. An employee is only ever truly heard when their thoughts are put to practical use and … [Read more...] about 15 Key Tips For Developing Active Listening Skills As A Leader

The returns on the investment in listed bonds are likely to be impacted in the coming days as the government in the Union Budget 2023 has removed the exemption from tax deduction at source (TDS) on these securities, experts said. In the Finance Bill 2023, the government announced the omission of clause (ix) under section 193 of the Income Tax Act, which provides an exemption from TDS on interest payments on listed bonds. So accordingly, now all bondholders have to pay TDS on their returns, which will reduce their returns. “The returns of investors will decrease because of TDS applicable now on all interest on securities be it listed or unlisted,” said Umesh Kumar Tulsyan, Managing Director, Sovereign Global. “It affects the returns. A bit of illiquidity will crop up due to this. Held-to-maturity (HTM) investors or those who have exemptions from tax like mutual funds, insurance companies, and provident funds, among others, shall not be impacted as such,” said Ajay … [Read more...] about Budget 2023: TDS on listed bonds may hit investor returns; here’s what experts say

Share to Twitter Share to Linkedin Topline The Powerball jackpot soared to $700 million ahead of Saturday’s drawing, making it the 10th biggest lottery jackpot ever as both the Powerball and Mega Millions continue to reach astounding jackpots in recent years following key changes to the games’ formulas. Key Facts This week’s jackpot is the sixth biggest Powerball grand prize since the multi-state lottery game launched in 1992—all of which came in the last six years, after the game announced a shake-up in its formula that made it pay out less frequently, but boosted the jackpot. That change, in 2015, decreased players’ odds of winning the jackpot from one in roughly 175.2 million to an abysmal one in 292.2 million, while the odds of winning the game’s smaller prizes, like its smallest $4 prize, increased to one in 92. The formula change increased the pool of white ball numbers available to select from 59 to 69 and decreased the pool of … [Read more...] about Powerball Swells To $700 Million—Here’s Why There Have Been So Many Massive Jackpots Recently

Share to Twitter Share to Linkedin Topline Identity management company Okta announced plans on Thursday to lay off roughly 300 employees, one day after FedEx, DraftKings, cloud data company NetApp and automaker Rivian all announced major rounds of layoffs—the latest U.S. companies to implement job cuts as recession fears continue into 2023. Timeline February 2 Okta CEO Todd McKinnon unveiled plans to reduce the tech company’s workforce by 5% (roughly 300 positions) in a Securities and Exchange Commission filing on Thursday, citing a period of over-hiring over the past several years that did not account for the “macroeconomic reality we’re in today.” February 1 NetApp , a San Jose, California-based cloud data company, announced plans in an SEC filing to lay off 8% of its staff ( estimated to affect 960 employees) by the end of the fourth fiscal quarter of 2023 “in light of the macroeconomic challenges and reduced spending environment.” … [Read more...] about 2023 Layoffs: Okta Slashes 300 Jobs As DraftKings, FedEx Cut Staff