Thought provoking. Useful. Relevant. Our team regularly generates problem solving insights and experiences worth sharing.
Which path forward is right for your business?
The past few years have significantly impacted many businesses, in many cases disrupting even the best laid plans. As society moves towards a semblance of normalcy, many owners are finding themselves at a crossroads in terms of planning a future path for their businesses. Perhaps that path is investing to sustain operations or spur growth. ... Read more
A guide to Ontario’s Non-Resident Speculation Tax
Ontario’s Non-Resident Speculation Tax (NRST) is commonly referred to as the foreign home buyers tax. What is the NRST? This tax is over and above the Ontario land transfer tax paid on the purchase of a residential property and applies to home purchases made by certain foreigners. When introduced in 2017, it impacted properties in ... Read more
Federal budget 2023
On March 28, 2023, Deputy Prime Minister and Minister of Finance Chrystia Freeland delivered the 2023 federal budget. The Minister boasted that Canada experienced the strongest economic growth in the G7 over the last year and that low-cost daycare has resulted in a record level of Canadian women participating in the workforce at 85.7 per ... Read more
Update: Vacancy taxes – how Canadian property owners are impacted
Over the year, a number of new taxes impacting owners of real property in Canada have come into effect. The Underused Housing Tax, Vacant Home Tax, and Vacant Unit Tax are three examples of these new “vacancy” taxes intended to disincentivize holding properties that are not being lived in or rented out. What is the ... Read more
Should you incorporate your professional practice or run it as a sole proprietorship?
You may be contemplating whether to incorporate your professional practice or to continue running it as an unincorporated business, otherwise known as a sole proprietorship. This article outlines some of the tax benefits and drawbacks of incorporating a professional practice. What is a professional corporation? A professional corporation is a corpo ... Read more