Protect Yourself & Your Loved Ones
June 30, 2021
By developing a Succession Plan for your business, it ensures you have the right strategy in place for when you retire, sell your business or passing it onto someone else (a family member, friend, an entrepreneur, or an employee).
Having a Succession Plan in place can:
- Ensure the smooth transfer of your business
- Protect the reputation of your business
- Build value by providing financial security for you, your family, and stakeholders
- Ensure you can take advantage of the appropriate tax deductions, credits, and exemptions
By having a Will in place, allows you to direct how your financial and personal affairs are to be handled after you have passed away.
Having a Will in place can:
- Ensure your family, dependents, personal and financial affairs are taken care of
- Provide your executor with the specific details of your wishes so that they can execute your Will which allows your loved ones to grieve and support one another
- Can reduce income taxes and probate fees if you own a business, having a Secondary Will in place is key
Contact a Ward & Uptigrove Wealth Management representative today at (519) 291-4803, or by email WealthManagement@w-u.on.ca, we can help protect you!
On November 4, 2025, the Minister of Finance and National Revenue, the Honourable François-Philippe Champagne, presented Budget 2025 – Canada Strong, to the House of Commons. No changes were proposed to personal or corporate tax rates. Some highlights include the following: Some highlights include: A. Personal Measures Automatic tax filings for low-income Canadians to commence for the 2025 tax year. A 5% credit for eligible personal support workers working for eligible health care establishments. B. Business Measures A variety of new and extended measures for accelerated CCA on asset acquisitions. An anti-avoidance measure to prevent tax deferrals related to refundable dividend tax where dividends are paid within a corporate group. Various modifications to tax incentives related to the clean economy. C. International Measures Revisions to the transfer pricing rules and requirements.
Our team has assembled the most relevant and recent tax, business and agriculture updates for you in this season's newsletter.
As we near the end of Tax Season, please note our office hours below: Hours until April 29th Mon, Tues, Weds, Fri: 8:30 am - 5:30 pm Thursday: 8:30 am - 8:00 pm Saturday: 9:00 am - 12:00 pm Sunday: Closed Hours on April 30th 8:30am – 5:00pm Hours May 1st – May 2nd Closed Hours beginning May 6th Monday – Thursday: 8:30am – 5:00pm Friday: 8:30am – 4:30pm
