Topic: Blog

Federal Budget

2018 Federal Budget Overview – “Equality + Growth: A Strong Middle Class

Posted on 2018 Feb 28 by

On February 27, 2018, the Honourable Bill Morneau, Minister of Finance, released the 2018 Federal Budget, “Equality + Growth: A Strong Middle Class“. The highly anticipated Budget forecasts a $19.4 billion deficit for fiscal 2017-18, an $18.1 billion deficit for 2018-19, and a $17.5 billion deficit for fiscal 2019-20. As expected, there were changes to the…

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Non-Resident Speculation Tax

Non-Resident Speculation Tax: What Does it Mean For You?

Posted on 2018 Feb 06 by

On April 21, 2017, the Ontario government introduced a new Foreign Home Buyer Tax – otherwise known as the Non-Resident Speculation Tax (“NRST”). This tax measure is intended to limit speculative real estate investment from foreign buyers and is currently restricted to real estate within the Greater Golden Horseshoe region. Why is the government trying…

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4 Estate Planning Considerations for Every Business Owner

Posted on 2018 Feb 05 by

Estate planning is an important issue for anyone with assets and heirs – regardless of age and health. However, when it comes to business owners, estate planning becomes particularly critical. Special consideration must be given to ensure the smooth transition of your business when you no longer wish to run it, or when you are…

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Top 4 Tax & Accounting Mistakes Made by Entrepreneurs

Posted on 2018 Jan 29 by

Let’s face it – as a business owner, your time is a precious commodity. You’ve got a business to run and grow, and your time is not best served brushing up on the latest business accounting rules and regulations. But accounting is an important function in every business, and any one of these tax or…

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Wealth Management and Family Values: The Importance of Communication in High-Net-Worth Families

Posted on 2018 Jan 19 by

When it comes to effectively protecting, managing, and building your wealth, open lines of communication and a solid understanding amongst family members is key. A full-service Family Office can serve as a facilitator of meaningful discussions to ensure family values are fully aligned with your fiscal objectives. Open communication with your family can help to…

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Tax Alert: Income Splitting Update

Posted on 2017 Dec 14 by

In response to tax planning proposals that were originally released in July of this year, the Department of Finance released revised draft legislation on December 13, 2017, for its proposed changes to income splitting using private corporations. The revised rules are intended to clarify when a family member has made a significant contribution to a…

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Tax Alert: Income Splitting Update

Posted on 2017 Dec 14 by

In response to tax planning proposals that were originally released in July of this year, the Department of Finance released revised draft legislation on December 13, 2017, for its proposed changes to income splitting using private corporations. The revised rules are intended to clarify when a family member has made a significant contribution to a…

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5 Financial Accounting Controls That Every Small Business Needs

Posted on 2017 Dec 04 by

Small to Mid-sized Businesses (SMBs) are frequent sources of wealth, pride, and personal fulfilment. However, they are often viewed as ‘easy targets’ for fraud, theft, and embezzlement. For this reason, owners of SMBs should be particularly vigilant about their high-risk positions, their checks and balances, and their small business accounting practices. These 5 accounting controls…

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Business Valuation Advice: 8 Factors Quantifying Minority Discounts

Posted on 2017 Nov 27 by

If a shareholder is selling a minority share (meaning a less-than-controlling interest) in a privately-held business, a minority discount may be applied to the pro-rata share value. There are a number of factors that are considered by business valuators to determine this discount. In this post, we look at 8 factors quantifying minority discounts. But…

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