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Burlington150 Award

SB Partners is proud to announce that John Chisholm, Partner and CEO, is a recipient of the Burlington150 Award. As part of Canada’s 2017 sesquicentennial celebrations, Burlington MPP Eleanor McMahon created Burlington150. The award recognizes 50 …

Charity Guidelines Checklist

Specifically, I wanted to highlight the checklists that cover a variety of aspects of charity operations. I have reproduced the basic guidelines checklist below. It is a good reminder of the administrative requirements to insure your Charity status …

Federal or Provincial Incorporation?

Incorporation is an important part of business and given the numerous financial considerations faced by owners, it’s not uncommon to choose the least expensive option. Short-term savings however may not yield long-term advantages. In Canada, owners …

Overview of New Draft Legislation to Address Income Sprinkling

On December 13, the government unveiled the final version of the new legislation regarding Tax on Split Income (TOSI) rules effective January 1, 2018. Overall, the legislation proposals extend the tax on split income (“TOSI”) to individuals aged 18 …
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CRA Audit Techniques

With the increase in the number of tax payers filing electronically, CRA now has incredible data analytic capabilities.  Anomalies in relationships between financial numbers will often trigger an audit or, at the very least, an information request. …

When CRA Comes Knocking

Part One of a Two-Part Series on the CRA CRA has definitely been more active lately. We see increases in the number of audits as well as the number of pre and post-assessment information requests. As there is an increased likelihood that you will …
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What Will Review Engagements Look Like for 2018?

In 2016, CPA Ontario issued the new Canadian Standard on Review Engagements (CSRE 2400). The new standard applies to the review of financial statements for periods ending on or after December 14, 2017. The standard replaces the old guidance which …
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Passive Income in a Corporation

What is it? Passive income effectively refers to income earned on funds or investments that are not active business assets. For example, portfolio investments, stocks, bonds, rental properties, real estate investments. Proposed Changes The …
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Capital Gains

What is it? A capital gain is a gain realized on the disposition of capital property for tax purposes. Capital gains benefit from a one-half inclusion rate. For example, for a $100 capital gain, only $50 is included as taxable income. Proposed …
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Income Sprinkling

What is it? It is capitalizing on the lower marginal tax rates of family members and diverting corporate income to them. Proposed Changes The Tax reform proposals generally seek to curb using a corporation to split income with family members in a …

Leadership Wisdom from Mr. Wonderful

Kevin O’Leary, a.k.a. “Mr. Wonderful”, was the opening keynote speaker at the AICPA (American Institute of CPA’s) ENGAGE 2017 conference in June.  AICPA is world’s largest member association representing the accounting profession, with more than …

How to Creditor Proof Your Auto Dealership

Planning and implementation of creditor-proofing strategies can only be undertaken when a business is solvent and operating in the ordinary course of business. Attempts to creditor-proof during insolvency are subject to significant legal challenge …

7 Business Financing Considerations

Businesses work hard to increase their operating performance, solidify their working relationships with suppliers and adapt to a changing sales platform involving technology advancements and intense competition. Other than equity retained in the …

How Should You Value Your Business?

A common question that we hear from our clients is “how do I value my business?” While there isn’t necessarily a simple answer to this question, there are some basic valuation approaches to consider based on the nature of the business. These …

SB in the Community

Meet healthypets.io! An online platform connecting veterinarians with pet parents on demand through video chat. From the comfort of home, pet parents can source reliable answers to their pet’s health and wellness concerns. Tech entrepreneur Emma …
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