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LES SERVICES THE KNOW-HOW

Ontario welcomes more Francophone newcomers than any other province (excluding Quebec). GTA alone, counts a francophone population of about 110 000, constantly increasing. Now this population is scattered and few federated and meeting post-installation difficulties integrating into the labor market.

In this sense, The Know How is distinguished by a unique and innovative project to increase opportunities to prosper in the labor market and business in Ontario:

  • Allow participants of the « know-how » to adapt their skills, acquire transferable skills that will enable them to excel in new areas of work, or to direct their careers to achieve better positions or wages.
  • Encourage Francophones to become savvy entrepreneurs to stimulate innovation, productivity, job creation and economic growth in a labor market that offers less and less job security for the French community. The business education, networking opportunities and access to capital will support them in their personal development and create successful businesses for themselves and for Ontario.
  • Develop social ties in a scattered community and enable Francophones to meet, to support and to undertake together will promote the dynamism of the whole community.

CRÉDITS D’IMPÔTS POUR LE NUMÉRIQUE

This credit is part of a movement to encourage development within the creative sector, and is intended to help the Canadian digital media industry compete on an international level.

In order to qualify for the tax credit, the product has to have its primary purpose as education, information, or entertainment, and must be capable of presenting information in at least three of the following forms: text, sound, images, and moving images. The Digital Media Tax credit can, when applicable, be combined with the Scientific Research & Experimental Development (SR&ED) program in order to maximize innovation funding. This refundable tax credit is administered on a provincial level and requirements vary accordingly. Programs are available in Ontario, Nova Scotia, British Columbia, Manitoba, Quebec, and New Brunswick.

CONSEILS D’ÉPARGNE IMPÔTS

Let’s consider an example – John and Jane are a married couple. John earns $135,000 a year while Jane earns $30,000. Jane saves $20,000 and invests that total amount which later increases by 50% (a value of $10,000). Her total taxable income is now $40,000 for the year. Since she has a much total lower income, her marginal tax rate is only 24.1% and her after-tax income is $34,108.

Now let’s reverse the scenario and John is the one who is investing the $20,000 with the $10,000 in profit. His total taxable income for the year is now $145,000, since he has a much higher income he is subject to a marginal tax rate of 46.4% and his after-tax income is $98,567. So in this situation, Jane should be the one investing since her investment profits will be taxed at the much lower marginal rate due to her initial low total taxable income. This will save John approximately $5,361 in taxes. (Please note that this example is based on the Federal and Ontario Provincial tax rates for the 2013 taxation year).

FINANCEMENT DIRECT

  • There are thousands of programs with varying eligibility criteria, deadlines and application processes.
  • The program landscape changes over time as new programs are introduced, existing programs are stopped as funding is exhausted or eliminated altogether.
  • Unlike most tax credits, direct funding programs must be preapproved and therefore require appropriate planning and alignment with overall business strategy and critical project timing.
  • Program funds are often limited and competitive, making application timing and strategy critical.
  • Receiving direct funds can have an impact on a company’s SR&ED claim.