May 01, 2019
In the four years since DUKE Heights BIA started, we have played a role in helping most of the 2,500 businesses that reside in our community. During that time businesses have asked us questions ranging from ‘how do I find and keep local talent’ to ‘how can I make an effective business logo’. To help answer these questions, we partnered with York University’s Experiential Education branch to get the help of a team (or should I say a village) of students trained to help improve local economic outcomes in the community. The DUKE Heights member businesses, charities, not-for-profits, community collectives and startups can ask a general business question by sending our team an email to- firstname.lastname@example.org.
DUKE Heights is offering this new service free of charge in order to help businesses in the area grow and succeed in our BIA. So, when an Internet search just isn’t enough, DUKE ask is here to make the process of finding the information businesses are looking for as seamless as possible. Go ahead and ask your business question at email@example.com.
Running a small business is hard. If you own or manage one in Canada, amidst all the challenges you face everyday, you also know the value of information that would make your business lose or gain, specially during this tax return season. Are you taking advantage of the federal Small Business Deduction (SBD) that you could be writing off against your business income?
For the tax years ending after 2016, the Small Business Deduction (SBD) remains at the 2016 level of 17.5 per cent but under some proposed changes, the SBD will increase to 18 per cent effective January 1, 2018, and to 19 per cent effective January 1, 2019. These changes will result in a reduction in the small business tax rate from 11 per cent to 10 per cent for 2018, as a first step toward lowering it to 9 per cent in 2019. The small business tax rate applies to the first $500,000 of active business income. Consult Chapter 4 of the T4012 – T2 Corporation Income Tax Guide for further details.
To qualify for SBD, a corporation must be classified as a Canadian-controlled private corporation (CCPC) by meeting specific conditions according to Chapter 1 of the T4012 – T2 Corporation Income Tax Guide. The complete Guide is available on the CRA website in HTML and PDF formats.
This intended reduction is expected to provide a small business with up to $7,500 in federal tax savings per year.
Free Wi-Fi @Keele Street and Finch Avenue West
We are excited to announce that DUKE Heights BIA is now offering free Wi-Fi on the corner of Keele Street and Finch Avenue West!
Making use of our free Wi-Fi is easy. When you are in the Keele Street and Finch Avenue West corner, simply look at your available Wi-Fi networks to find the one named “Duke Heights BIA Guest.” Once you have found the network, provide us with a few simple details and you will be ready to use our free WiFi!
This pilot project will be available for the next 6-months and we are looking to expand the service throughout our BIA in the next two years. We hope to benefit businesses by providing a service on our behalf for customers to enjoy. As one of the second largest BIA’s, with over 34,000 people visiting our area every workday, our free Wi-Fi is a way to keep you connected on the go!
If you have any feedback on the service, email us at firstname.lastname@example.org.