Letter from the Editor in Chief

Dear Valued Clients & Readers,

Welcome to the latest edition of "Navigate by Shajani CPA," a beacon of insight and guidance in the ever-evolving financial landscape. As we embark on a new year, our focus is steadfast on empowering you, our esteemed readers, with the knowledge and strategies crucial for navigating the complexities of today’s compliance and economic environment through exceptional advisory services.

This month, we delved into a variety of topics, from tax reorganizations and accounting nuances to the intricacies of estate planning and the latest in financial literacy. Each article is a stepping stone towards realizing your ambitions, offering a blend of expertise and practical advice.

Our commitment is to illuminate the path ahead, helping you make informed decisions that align with your aspirations. Whether it's understanding the impact of current interest rates on your business, adapting to the latest tax laws, or optimizing your retirement plans, our content is tailored to guide you there. So, immerse yourself in our thoughtfully curated articles, and let us journey together towards a prosperous and financially sound future. After all, when you tell us your ambitions, we dedicate ourselves to guiding you there.

T-Slip Changes for dental benefits: We would like to bring to your attention that the T-Slip filings for 2023 remuneration paid to employees have a significant change this year. To comply with the changes, please inform us of any dental benefits provided to your employees to ensure compliance with the new T4 and T4A reporting requirements.

Economic Update: Considering the current economic landscape in Canada, here are some tailored insights and advice for entrepreneurs with family-owned enterprises. 

Navigating High-Interest Rates: Given that the Bank of Canada has maintained its target for the overnight rate at 5%, businesses should be cognizant that we are still considered to be in a period of elevated interest rates in comparison to the past decade. This could mean increased costs for borrowing for yourself as well as many others as their loans come up for renewal or as their variable rates adjust. Your business might consider strategies to mitigate these impacts, such as revising pricing strategies to account for higher operating costs or exploring fixed-rate financing options to stabilize future interest expenses. It's a prudent time to review financial plans and ensure that your business maintains a robust cash flow management strategy (Bank of Canada, January 2024).

Corporate Debt and Liquidity Management: With the significant rise in corporate debt, your business should be cautious about taking on additional leverage, especially in a high-interest-rate environment. It's advisable to focus on strengthening the balance sheet by managing existing debts and potentially refinancing high-cost debts. If you have no debt, you may find yourself at a competitive pricing advantage, and if you have large cash reserves, you may be able to find growth opportunities through mergers and acquisitions. Additionally, maintaining a strong liquidity position can help navigate uncertain times and provide a buffer against potential economic downturns (Statistics Canada, January 2024).

Capitalizing on Immigration Trends: The favorable outcomes for two-step immigrants in the labor market indicate a pool of skilled workers that entrepreneurs can tap into. This demographic could be a valuable resource for addressing skill shortages and enhancing workforce diversity. Businesses should consider engaging with immigration programs to access this talent pool, potentially providing an edge in the competitive business environment (Statistics Canada, January 2024).

Adapting to the Global Economic Slowdown: With global economic growth slowing, Canadian businesses, especially those with international business ties, should prepare for potential impacts. This could involve diversifying your market base to reduce reliance on any single economy or sector. Additionally, focusing on cost management and efficiency improvements can help maintain profitability during slower growth periods.

Responsiveness to Market Changes: The dynamic economic conditions necessitate a flexible approach to business planning. Corporations should stay informed of market trends and be ready to adapt their strategies accordingly. This might include revisiting pricing, exploring new market segments, or investing in technology to improve operational efficiency.

In conclusion, while these economic conditions pose challenges, they also offer opportunities for astute businesses to strengthen their market position and build resilience. Staying proactive and informed is key to navigating these times successfully.

I would like to conclude by extending a sincere thank you to our valued clients and readers. Your trust, engagement, and feedback are invaluable to us, and they fuel our commitment to providing top-tier financial insights and advice. If you know someone who could benefit from our services or insights, please consider referring them to us. Your recommendations are the highest compliment we can receive, and they motivate us to continually improve and expand our offerings. We look forward to continuing our journey with you, navigating the financial landscape, and achieving success together. Thank you for your continued support and for considering us worthy of your referrals.


Warmest regards,


Nizam Shajani, CPA, CA, TEP, LL.M (Tax), MBA

Editor-in-Chief - Navigate by Shajani CPA

January 2024 Newsletter


Please note the following important dates are estimates only. Please confirm your deadlines directly with your professional advisor.

February 15, 2024  – January payroll remittances due

February 29, 2024  – Fiscal year ends November 30th tax payments due

February 29, 2024  – Fiscal Year end August 31st tax filings are due

March 15, 2024      – February payroll remittances due

March 31, 2024      – Fiscal year ends December 31st tax payments due

March 31, 2024      – Fiscal Year end September 30 tax filings are due

February is a great time to start your personal tax filings. If you require assistance, contact our office.

Tax deadlines in Canada are crucial dates that individuals and businesses must remember to remain compliant and avoid penalties. Navigating these deadlines can be challenging, especially for family-based businesses with diverse obligations. Read more.


Section 86

Business Valuations

Maximizing Tax Savings through Corporate Reorganization


Eligible vs Ordinary Dividends

Underused Housing Tax

Corporate Remuneration Planning

Holding Investments in your Corp



Case Law – MacDonald

Voluntary Disclosure Program

Taxing Relationships 


Government Tax in the News

CRA Updates

Department of Finance Updates


Strategic Planning for Personal and Health Caser Directive

New Trust Reporting Regulations

Understanding the Tax Implications of a Will


Estate Planning

Maximizing Retirement Savings While Minimizing Tax Liabilities

Understanding Your Employer Pension Plans


Interconnectedness of Financial Statements

Demystifying Financial Statements

Decoding Financial Statements for Family Enterprises


Automation of Bookkeeping

Expanding the Horizons of Bookkeeping

Latest Technological Advances in Bookkeeping 


Narrative Financial Analysis

Understanding and Improving Your Statement of Income

Navigating the New Year


RESP 21-Year Plan

When to invest in RRSP vs TFSA

First Time Homebuyers Credit

Tell Us Your Ambitions & We Will Guide You There

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