Navigating the Canadian tax system can be complex, especially when you have multiple sources of income. Knowing  how  different types of income are taxed empowers you to plan smarter, optimize your tax position, and avoid surprises at tax time. Let’s break down the most common taxable income categories, how taxes apply to each, and authoritative CRA references for clear guidance. Income Type Taxable? How Tax Applies Learn More Employment Income Yes Your salary, wages, bonuses

The Bank of Canada (BoC) cut its policy interest rate to 2.25% on October 29, 2025  and this decision is quite expected as everyone waits to see the full economic impact of the ongoing tariff/trade wars such as inflation, loss of jobs, reduced consumer spending (& GDP) and declining company revenues. As shown above, some analysts believe that we may be approaching the end of the rate cutting era. The analysis suggests that while rate relief may still occur, the magnitude and

Choosing between operating your business as a sole proprietorship or incorporating it as a corporation is a pivotal decision that affects taxes, liability, and growth potential. Both structures have pros and cons, particularly when you compare tax implications for owners in Canada. Tax Differences at a Glance Here’s a clear, numbers-driven look at when each shines—for example, let's consider Manitoba residents earning around $100k. In a sole proprietorship, all business incom