Topic: Blog

2016 Federal Budget Analysis Podcast

Posted on 2016 Mar 23 by

The Federal Liberals presented their first Federal Budget in the House of Commons yesterday (March 22, 2016).  The budget announced spending for aboriginal communities and infrastructure, as well as making good on their election promise to revamp the tax credits available for middle-class families with children. The larger than expected deficit inherited from the former…

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Non-Resident Employer Certification 

Posted on 2016 Feb 23 by

  As a follow up to our 2015 blog post, the Canadian Federal Budget introduced measures to streamline the Canadian payroll tax withholding requirements for non-resident employers. The budget introduced an exemption to the Regulation 102 requirement for qualifying non-resident employers on payments made to qualifying non-resident employees who meet the following conditions: Is resident…

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Inadvisable to cull client list before selling business

Posted on 2016 Feb 10 by

Although some say it is a good idea to clean up your client list prior to listing your business for sale, a wholesale cleanup is likely to raise red flags for potential purchasers, says Toronto forensic accountant and chartered business valuator Patricia Harris. “You shouldn’t just say, ‘OK, I’ve decided to sell my business so…

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Making Your Financial Windfall Last a Lifetime

Posted on 2016 Feb 05 by

There are four main events that create a financial windfall: sale of business, lottery win, inheritance, or high net worth divorce situation. Many people who come into a large sum, say $5 million dollars or more, may not have the necessary experience to handle this sudden influx of capital. In fact, according to the National…

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Increased Reports of Greater Toronto Area Tax Scams

Posted on 2016 Feb 04 by

York Regional Police are warning the public that there has been an increase in fraudulent activity conducted by phone and/or email. In some instances, the suspects use software to have their number appear to be calling from a police line or even the CRA directly. In one instance, a woman was told she owed $58,000…

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RRSPs & TFSAs: Deadlines and Limits

Posted on 2016 Jan 25 by

Just a reminder that the RRSP deadline is approaching. Also, the TFSA limit has been adjusted for 2016. Here’s what you need to know: -The 2015 RRSP contribution deadline is February 29, 2016 -The 2015 RRSP maximum contribution limit is $24,930 -To determine your 2015 RRSP contribution limit, check your 2014 Notice of Assessment -The 2016…

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The Human Connection in Your Business

Posted on 2015 Dec 23 by

I was riding the subway home one evening when “Sean,” our conductor, came over the communication system and introduced himself and his team in an animated voice. It was a surprise to hear a live voice on the train as the local transit operator introduced a programmed announcement system a number of years ago to…

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Business Continuity for Your Business

Posted on 2015 Dec 23 by

Implementing a sound business continuity program is like having insurance. You hope to never have to use it, but, if you do, it’s there. This article will explore important components of business continuity for potential technology disruptions in small and medium sized businesses in the food and beverage industry. A business continuity program has two…

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Liberal Government Announces Tax Changes on December 7

Posted on 2015 Dec 08 by

On December 7, 2015, the new Liberal government presented legislation in the House of Commons that will enact a number of tax changes based on their federal election platform. With their majority, they will be able to quickly pass this legislation and the changes will take effect on January 1, 2016. As promised, the government…

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