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Category: corporate

Get Your Corporate Dollars Doing Double Duty

April 2, 2022Blog, Business Owners, corporateMaclean Rowe

Owners of very successful private corporations are well aware of the importance of cash flow. Many are protective of how they allocate corporate capital so that business ventures are adequately funded and investment opportunities are not missed.

The Immediate Financing Arrangement offers an opportunity to provide life insurance coverage and accumulate wealth on a tax-advantaged basis without impairing corporate cash flow.

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Disability Insurance and Small Business: How a Small Business Owner Used Disability Insurance to Stay Afloat While Managing Depression

May 3, 2021Blog, Business Owners, corporate, disability, Disability Insurance, FamilyMaclean Rowe

Sandra ran her own successful insurance agency company for over a decade before it hit her like a ton of bricks – she was chronically depressed and something had to change.

Triggered by a combination of constant stress leading to severe burnout and her 12-year-old son’s recent diagnosis with Type 1 diabetes, Sandra needed some time away from the office to recover and receive treatment. Her depression was absolutely debilitating and could have been devastating to her business and income.

Luckily, Sandra, whose name has been changed to protect her privacy, had purchased two disability insurance policies eight years prior that would help her through such a turbulent time. Sandra worked in the insurance industry and had seen just how important it was to protect yourself from a loss of income in case of a debilitating illness or disease.

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Highlights of the 2020 Federal Fall Economic Statement | Additional $20,000 CEBA loan available now

December 7, 2020Blog, Coronavirus, Coronavirus - Associates, Coronavirus - Practice Owners, corporate, disability, Financial Planning, RDSP, taxMaclean Rowe

Finance Minister Chrystia Freeland recently provided the government’s fall economic update. It included information on the government’s strategy for dealing with the COVID-19 pandemic and its plan to help shape the recovery. We’ve summarized the highlights for you:

• Corporate Tax Changes, including extensions to subsidy programs.

• Personal Tax Changes, including additional Canada Child Benefit Plan payments and a new “Work from home” tax credit.

• Indirect Tax Changes, including the proposal to charge GST/HST on services provided via digital platforms, as well as the temporary removal of GST/HST on face masks and shields.

For business owners, as of December 4th, the CEBA loan has been expanded by an additional $20,000.

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Canada Emergency Wage Subsidy expanded to include more businesses!

July 17, 2020Blog, Business Owners, Coronavirus, Coronavirus - Practice Owners, corporateMaclean Rowe

On July 17th, Finance Minister Bill Morneau announced proposed changes to the Canada Emergency Wage Subsidy (CEWS) that will expand the number of businesses that qualify for the program.

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Canada Emergency Wage Subsidy extended into December!

July 13, 2020Blog, Business Owners, Coronavirus, Coronavirus - Practice Owners, corporateMaclean Rowe

On July 13th, Prime Minister Justin Trudeau announced the extension of the Canada Emergency Wage Subsidy (CEWS) until December.

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CERB Extended | Business Owners who did not qualify previously – expanded CEBA starts June 19th

June 17, 20202020 Only, Blog, Business Owners, Coronavirus, Coronavirus - Associates, Coronavirus - Practice Owners, Coronavirus - Students, corporate, individualsMaclean Rowe

Great news for Canadians out of work and looking for work. The CERB will be extended another 8 weeks for a total of up to 24 weeks.

The expanded CEBA will begin June 19th.

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The Need for Corporate Life Insurance

June 1, 2020Blog, Business Owners, Buy-Sell Insurance, corporate, Estate Planning, Life InsuranceMaclean Rowe

Life insurance is used for two general purposes in a private corporation – managing risk and creating opportunities. The risk management function is satisfied as life insurance provides the corporation with a tax-free payment in the event of the death of an owner or someone vital to the success of the business. As life insurance also allows for the tax-sheltered build up of cash value additional planning opportunities are additionally created.

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Small Businesses! Applications for Canada Emergency Commercial Rent Assistance starts May 25th

May 24, 20202020 Only, Blog, Business Owners, Coronavirus, Coronavirus - Practice Owners, corporateMaclean Rowe

The Application portal for the Canada Emergency Commercial Rent Assistance (CECRA) opens at 8:00am EST on May 25th

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Does your Business Qualify for the Small Business Gains Exemption?

June 1, 2019Blog, Business Owners, corporate, Life Insurance, taxMaclean Rowe

As a business owner, you may be aware that when you dispose of shares in your business you could receive an exemption on all or a portion of the capital gains that ordinarily would be taxable. This is due to the Lifetime Capital Gains Exemption which says that, for 2019, up to $866,9121 of capital gains is exempt from taxation.

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The Need for Corporate Life Insurance

May 1, 2019Blog, Business Owners, corporate, Estate Planning, Life InsuranceMaclean Rowe

Life insurance is used for two general purposes in a private corporation – managing risk and creating opportunities. The risk management function is satisfied as life insurance provides the corporation with a tax-free payment in the event of the death of an owner or someone vital to the success of the business. As life insurance also allows for the tax-sheltered build up of cash value additional planning opportunities are additionally created.

Read More
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Recent Posts

  • 2023 Financial Calendar
  • Has Purchasing Life Insurance Changed Since 2020?
  • Now May Be a Good Time to Review your Estate Plan
  • Shielding Your Family From Your Creditors With Life Insurance
  • Group Life Insurance – Only Part of The Solution

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Contact Us

Gaire Maclean, CFP, CLU
Certified Financial Planner and Chartered Life Underwriter

Tel: (604) 683-2044 
Fax: 604 689 2801 
Email: gaire@macleanrowefinancial.com

Tannis Rowe, BA, CFP, CLU
Certified Financial Planner and Chartered Life Underwriter

Tel: (604) 683-2044 
Fax: 604 689 2801 
Email: tannis@macleanrowefinancial.com

#1810 – 1075 West Georgia Street
Vancouver, British Columbia
V6E 3C9

info@macleanrowefinancial.com

Latest Posts

  • 2023 Financial Calendar
  • Has Purchasing Life Insurance Changed Since 2020?
  • Now May Be a Good Time to Review your Estate Plan
  • Shielding Your Family From Your Creditors With Life Insurance
  • Group Life Insurance – Only Part of The Solution

About

MacLean Rowe Financial’s boutique approach to financial advice affords clients with the individual attention they deserve to achieve their goals and objectives.
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