Tax planning is important for small, medium and large businesses because it can help them to achieve their business goals. When you have a tax plan as the owner of a business, you can lower the amount of taxable income, gain more control of when taxes are paid and also reduce the rate of tax.

Tax Planning is minimizing your tax liability by making the best use of all available deductions, allowances, rebates etc.... as permitted by income tax laws, rules stipulated by the Canadian government.

Tax planning helps in effective cash flow and liquidity management for taxpayers and better retirement plans and investment opportunities.