Latest news with #SBD
News24
20-05-2025
- Sport
- News24
Former Cheetahs rugby player crowned World's Strongest Man
Rayno Nel, a former Cheetahs rugby player, has become the first African to win the World's Strongest Man title. Nel switched to strongman competitions in 2023 and won South Africa's Strongest Man event twice before claiming the global title as a rookie. The 30-year-old is over 1.9m tall and weighs 148kg. For more sports news, visit the News24 Sport homepage. Former Cheetahs rugby player Rayno Nel has made history by becoming the first African to win the prestigious World's Strongest Man title. The 30-year-old Nel ousted defending champion Tom Stoltman by half a point in the two-day final to claim the title in Sacramento, California on Sunday. It was also the first victory by a rookie at the event since 1997. Nel, who is 1.91m tall weighs 148kg, played loose forward for the Cheetahs and also captained CUT in the Varsity Cup for three seasons. 🥇🥈🥉 @SBDApparel | #WSM2025 — SBD World's Strongest Man (@WorldsStrongest) May 19, 2025 'I'm just over the moon,' he told USA TODAY Sports. 'To represent (South Africa) in any way whatsoever, it feels surreal. I mean, we're a small country with a lot of struggles. To have something like this I know means a lot to my people.' 𝗕𝗥𝗘𝗔𝗞𝗜𝗡𝗚: Rayno Nel is your 2025 @SBDApparel World's Strongest Man 🇿🇦🏆🌎 #WSM2025 — SBD World's Strongest Man (@WorldsStrongest) May 18, 2025 Nel switched to strongman competitions in 2023 and won South Africa's Strongest Man competition two years in a row. 'Rugby was what I thought I would do for my sport career. I didn't think I'd do any sport ever again. But I always had this competitive side to me, so when I stopped playing rugby, I knew I needed to do something competitive. That's just who I am,' he added. Nel works as an electrical engineer.
Time Business News
15-05-2025
- Business
- Time Business News
Top 10 Tax-Saving Tips for Small Businesses in Canada
Running a small business in Canada comes with its share of challenges, from managing cash flow to staying competitive. One area where savvy entrepreneurs can gain an edge is taxes. Understanding the Canadian tax system and leveraging available deductions, credits, and strategies can significantly reduce your tax bill and keep more money in your business. At we've helped countless small companies to optimize their finances, and we're sharing our expertise with you. Here are the top 10 tax-saving tips for small businesses in Canada to help you maximize savings in 2025 and beyond. The Small Business Deduction (SBD) is one of Canadian small businesses' most powerful tax breaks. Offered by the Canada Revenue Agency (CRA), the SBD reduces the federal corporate income tax rate for eligible Canadian-controlled private corporations (CCPCs) on their first $500,000 of active business income. In 2025, the federal SBD lowers the tax rate from 15% to 9%, and many provinces offer additional SBD reductions. Your business must be a CCPC, meaning it's a private corporation controlled by Canadian residents. The income must come from active business activities (e.g., selling products or services), not passive investments. Your taxable capital and associated corporations must be below $50 million (with phase-outs starting at $10 million). Ensure your corporation is structured as a CCPC. Consult an accountant to verify eligibility. Track your active business income separately from investment income to maximize the deduction. Review provincial SBD rules, as rates and thresholds vary (e.g., Ontario's SBD rate is 3.2%). Example: A BC-based CCPC earning $400,000 in active business income could save approximately $24,000 federally and additional provincial savings by claiming the SBD. If you run your business from home, you may be eligible to deduct a portion of your home expenses. The CRA allows small business owners to claim expenses like rent, utilities, property taxes, and internet if your home is your principal place of business or used regularly for client meetings. Calculate the percentage of your home used for business (e.g., a 100-square-foot office in a 1,000-square-foot house = 10%). Apply that percentage to eligible expenses. For example, if your annual utilities cost $2,000, you can claim $200. For employees working from home (including yourself if incorporated), use the CRA's simplified method (e.g., $2 per day worked from home in 2025) or detailed method. Measure your workspace and document its exclusive business use with photos or floor plans. Keep receipts for all home-related expenses and file them securely. Use small business accounting software like QuickBooks to track and categorize these deductions. Tip: Don't overclaim. The CRA may audit excessive home office deductions, so ensure your workspace is genuinely business-dedicated. If you use a vehicle for business purposes, you can deduct related expenses, such as fuel, maintenance, insurance, and lease payments. The key is to separate business from personal use, as only the business portion is deductible. Keep a logbook tracking business trips (date, destination, purpose, and kilometers driven). Calculate the business-use percentage (e.g., 8,000 business km out of 10,000 total km = 80%). Apply that percentage to expenses. For example, if your annual fuel costs are $3,000, you can deduct $2,400. If you own the vehicle, claim capital cost allowance (CCA) for depreciation, subject to CRA limits (e.g., $36,000 purchase price cap for non-zero-emission vehicles in 2025). For electric vehicles, explore accelerated CCA rates (up to 100% in the first year for zero-emission vehicles). Use apps like MileIQ to automate mileage tracking. Retain receipts for all vehicle expenses. Consult an accountant to optimize CCA claims, as they can impact future taxes. Example: A freelancer driving 60% for business could deduct $4,800 of an $8,000 annual vehicle expense, plus CCA if applicable. The CRA's Capital Cost Allowance (CCA) allows you to deduct the depreciation of capital assets like equipment, furniture, and computers over time. Each asset falls into a CCA class with a specific depreciation rate (e.g., 20% for furniture, 55% for computers). Immediate Expensing : Eligible CCPCs can expense up to $1.5 million annually on certain new assets (e.g., equipment or vehicles) until 2027, allowing a full write-off in the purchase year. : Eligible CCPCs can expense up to $1.5 million annually on certain new assets (e.g., equipment or vehicles) until 2027, allowing a full write-off in the purchase year. Accelerated Investment Incentive : For assets not eligible for immediate expensing, claim up to 1.5 times the normal CCA rate in the first year. : For assets not eligible for immediate expensing, claim up to 1.5 times the normal CCA rate in the first year. Zero-Emission Vehicles: Claim up to 100% CCA in the first year for electric or hydrogen-powered vehicles. Identify eligible assets and their CCA classes using CRA guidelines. Decide whether to claim CCA, as it reduces your asset's undepreciated capital cost (UCC), potentially affecting future deductions. Work with an accountant to balance immediate expensing with long-term tax planning. Tip: Immediate expensing is ideal for businesses with high taxable income, as it maximizes deductions when you need them most. One of the simplest ways to reduce taxable income is to claim all eligible business expenses. The CRA allows deductions for costs incurred to earn income, provided they're reasonable and supported by receipts. Office Supplies : Pens, paper, software subscriptions (e.g., Microsoft 365). : Pens, paper, software subscriptions (e.g., Microsoft 365). Advertising : Website hosting, social media ads, or Google Ads. : Website hosting, social media ads, or Google Ads. Professional Fees : Legal, accounting, or consulting services. : Legal, accounting, or consulting services. Travel : Flights, hotels, and meals for business trips (50% limit on meals). : Flights, hotels, and meals for business trips (50% limit on meals). Training: Courses or certifications to enhance business skills. Categorize expenses in accounting software to streamline tax filing. Retain receipts and document the business purpose of each expense. Review CRA's 'reasonable expectation of profit' rule to ensure expenses align with revenue-generating activities. Example: A consultant spending $5,000 on marketing, $2,000 on software, and $1,500 on training could deduct $8,500, lowering their taxable income significantly. Canada offers several tax credits to encourage hiring and employee development, particularly for small businesses. Canada Employment Credit : A non-refundable credit for employers paying EI premiums, reducing payroll tax costs. : A non-refundable credit for employers paying EI premiums, reducing payroll tax costs. Apprenticeship Job Creation Tax Credit : A credit of up to $2,000 per eligible apprentice hired. : A credit of up to $2,000 per eligible apprentice hired. Scientific Research and Experimental Development (SR&ED): Refundable credits for businesses conducting R&D, offering up to 35% of qualifying expenditures for CCPCs. Review CRA's SR&ED eligibility criteria if your business innovates (e.g., developing new products or processes). Track wages and training costs for apprentices or new hires. File Form T2038 for employment credits during tax season. Tip: SR&ED credits are underutilized. Even small-scale R&D, like software development, may qualify. If you're a sole proprietor or partner, contributing to a Registered Retirement Savings Plan (RRSP) can reduce your personal taxable income while saving for retirement. For incorporated businesses, paying yourself a salary and contributing to an RRSP achieves similar benefits. Contributions are deductible up to your RRSP limit (18% of earned income, capped at $32,490 in 2025). Investment growth is tax-deferred until withdrawal, typically at a lower tax rate in retirement. Check your RRSP contribution room on your CRA My Account. Contribute before the deadline (March 1, 2026, for 2025 tax year). Balance RRSP contributions with business reinvestment needs. Example: A sole proprietor earning $80,000 who contributes $14,400 to an RRSP could reduce their taxable income to $65,600, saving thousands in taxes. Income splitting involves paying family members for legitimate work in your business, distributing income to lower-tax-bracket individuals. This is particularly effective for incorporated businesses. Hire family members (e.g., spouse or adult children) for roles like bookkeeping, marketing, or administrative tasks. Pay reasonable salaries or dividends, ensuring they reflect market rates for the work performed. Document their contributions with contracts, timesheets, and payroll records. Consult an accountant to comply with CRA's Tax on Split Income (TOSI) rules, which limit income splitting in some cases. Set up proper payroll accounts with the CRA. Ensure payments are made via traceable methods (e.g., direct deposit). Tip: Dividends may be more tax-efficient than salaries for family members in low tax brackets, but consult an expert to confirm. With Canada's push for sustainability, small businesses investing in green technologies can access valuable tax credits and deductions. Clean Technology Deduction : Immediate expensing for eligible clean energy equipment (e.g., solar panels or electric vehicle chargers) until 2035. : Immediate expensing for eligible clean energy equipment (e.g., solar panels or electric vehicle chargers) until 2035. Zero-Emission Vehicle Incentives : Deduct up to 100% of the cost of electric or hydrogen vehicles in the first year. : Deduct up to 100% of the cost of electric or hydrogen vehicles in the first year. Energy Efficiency Upgrades: Claim deductions for retrofitting business premises with energy-efficient systems. Review CRA's list of eligible clean technology assets. Document installation and purchase costs for tax filings. Stay updated on federal and provincial green incentives, as new programs may emerge in 2025. Example: A business installing $50,000 in solar panels could deduct the full amount in one year, reducing taxable income significantly. The most effective tax-saving strategy is partnering with a professional accountant who understands the Canadian tax system and your business. At our team specializes in identifying deductions, credits, and strategies tailored to small businesses, ensuring you don't miss opportunities or risk CRA audits. Expertise : Accountants stay updated on tax law changes, like new credits or deduction limits. : Accountants stay updated on tax law changes, like new credits or deduction limits. Time Savings : Free up your time to focus on growing your business. : Free up your time to focus on growing your business. Audit Protection: Proper documentation and compliance reduce audit risks. Schedule a consultation with to review your 2025 tax plan. Provide your accountant with organized records, preferably via cloud accounting software. Ask about year-round tax planning to optimize savings beyond tax season. Testimonial: ' helped us claim $15,000 in deductions we didn't know about. Their expertise saved us thousands!' – Sarah, Vancouver-based retailer. Reducing your tax bill as a Canadian small business owner doesn't require complex loopholes—it's about understanding the CRA's rules and leveraging available opportunities. From the Small Business Deduction to green energy incentives, these 10 tax-saving tips can help you keep more money in your pocket. However, tax planning is not a one-size-fits-all process. Every business is unique, and professional guidance can make all the difference. At we're committed to helping small businesses thrive. Contact us today to create a personalized tax strategy that maximizes your savings and ensures compliance. Let's make 2025 your most financially successful year yet! Book a free consultation with and discover how we can help your small business save thousands. TIME BUSINESS NEWS
Yahoo
22-04-2025
- Yahoo
First set of homes completed on former pub land
The first set of new homes built on land previously plagued by anti-social behaviour are ready to move into, a council has confirmed. Nine of 19 homes have been completed on the site of the former Happy Wanderer pub on Green Lanes, Bilston. The Wolverhampton pub was demolished by its previous owner in September 2021 after it was subjected to arson attacks and anti-social behaviour since it's closure in 2017, City of Wolverhampton Council said. Council deputy leader Steve Evans said planners have worked with previous owners to remove any further risk of anti-social behaviour. He said: "This is a prime example of the work we are doing through our vacant properties taskforce to bring derelict sites back into use to create a better environment for all." Black Country Housing Group, in partnership with Keon Homes, has built 13 two and three-bedroom houses, and six one-bedroom flats, supported by grant funding from Homes England. The all-electric properties have been designed to be energy efficient. The development has also been supported by West Midlands Police's Secured by Design (SBD) initiative to meet high standards in preventing crime. Follow BBC Wolverhampton & Black Country on BBC Sounds, Facebook, X and Instagram. Bricks laid for new homes on former eyesore pub Plans to turn former pub site into homes approved City of Wolverhampton Council
BBC News
22-04-2025
- General
- BBC News
First set of homes completed on former pub land in Wolverhampton
The first set of new homes built on land previously plagued by anti-social behaviour are ready to move into, a council has of 19 homes have been completed on the site of the former Happy Wanderer pub on Green Lanes, Wolverhampton pub was demolished by its previous owner in September 2021 after it was subjected to arson attacks and anti-social behaviour since it's closure in 2017, City of Wolverhampton Council deputy leader Steve Evans said planners have worked with previous owners to remove any further risk of anti-social behaviour. He said: "This is a prime example of the work we are doing through our vacant properties taskforce to bring derelict sites back into use to create a better environment for all."Black Country Housing Group, in partnership with Keon Homes, has built 13 two and three-bedroom houses, and six one-bedroom flats, supported by grant funding from Homes all-electric properties have been designed to be energy efficient. The development has also been supported by West Midlands Police's Secured by Design (SBD) initiative to meet high standards in preventing crime. Follow BBC Wolverhampton & Black Country on BBC Sounds, Facebook, X and Instagram.
Ya Biladi
18-04-2025
- Business
- Ya Biladi
Ireland's Sandyford Business District and Casablanca Finance City seal partnership
Sandyford Business District (SBD), a major commercial and innovation hub in south Dublin, has signed a Memorandum of Understanding (MoU) with Casablanca Finance City (CFC), Morocco's leading financial and business center, during a recent trade mission to the North African country. The agreement marks the beginning of a strategic economic partnership, according to Business Plus magazine. While Casablanca Finance City serves as a gateway for international investment into Africa and hosts major financial institutions and multinational corporations, Sandyford Business District is home to over 1,000 companies—ranging from global tech firms to high-growth startups—and plays a key role in Ireland's knowledge and innovation economy. The Irish delegation, which included officials from Dún Laoghaire–Rathdown County Council and local business leaders, explored opportunities for bilateral collaboration aimed at increasing global visibility, attracting investment, and exchanging expertise across business, academia, and urban development. The MoU was signed by Ger Corbett, CEO of SBD, and Said Ibrahimi, CEO of CFC. Corbett identified Fintech as a promising area of cooperation, citing the recent acquisition of Irish company CR2 by Moroccan group HPS as a sign of strengthening ties. Other sectors flagged for future collaboration include smart cities, AgriTech, construction, industry, and tourism. Corbett also praised Morocco's strategic investments in infrastructure, education, and innovation, and highlighted CFC's strong talent pool, bilingual workforce, and unique access to both African and European markets. «Casablanca Finance City, like Sandyford Business District, is guided by a clear vision for long-term growth», Corbett said. «Though we're at different stages of development, our shared values will help us learn from one another and build thriving, investment-ready districts».
