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Changes to Reporting
Requirements for Trusts
as of December 31, 2023

The new reporting rules, aimed at providing more transparency on beneficial ownership of assets, now require that more trusts (and estates) file tax returns. These changes will catch out many individuals and businesses that may not be aware of their …

Getting Started with a CRA MyBusiness Account

Working remotely and outsourcing departments presents challenges in efficiency and security. Take advantage of the digital tools available to help your business manage its taxes. They save time, expedite processes, and improve communication within …

Canada Digital Adoption Program

Canada Digital Adoption Program – What You Need to Know In March of 2022, the Canada Digital Adoption Program (CDAP) was announced by the federal government. As part of Budget 2021, the $4 billion investment over 4 years is dedicated to supporting …

Preparation and Planning Key to Selling a Dental Practice

Setting your dental practice up for a potential sale should ideally start about three to five years in advance. This will give you enough time to develop more value in your business. Planning for things like staffing costs, expenses, and large …

ONCA Provides More Options to Not-for-profit Corporations in Ontario

ONCA Has Arrived…Finally On October 19, 2021, significant changes to the regulations governing not-for-profit corporations (NPCs) in Ontario came into effect when the long-awaited Ontario Not-for-profit Corporations Act, 2010 (ONCA) was brought into …

Budget 2021 propose changes to promote CCPC business investment until 2023

As the Government continues to roll out measures to alleviate the economic impact of the pandemic, the 2021 federal budget proposed legislation for a temporary measure that would encourage Canadian Controlled Private Corporations (CCPCs) to invest …

What Is Your Status? Not-for-Profit vs. Charitable Organizations

Many organizations are becoming increasingly active in philanthropic activities and engagement. The range of causes looking for support is huge. Sector Source, a project run by Imagine Canada, reports over 170,000 charities and not-for-profits in …

Budgeting for a Post-pandemic World

The COVID-19 pandemic has taken the world by storm since it was first discovered in late 2019, affecting virtually all strata of human endeavors. Business owners, business advisors, and other business stakeholders were not left out of the onslaught. …
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Federal government introduces legislation for new recovery benefits

On September 24, 2020, the federal government tabled Bill C-2, An Act relating to economic recovery in response to COVID-19, which creates three new temporary recovery benefits to support Canadians who are unable to work for reasons related to …

AI and Your Business

Artificial Intelligence, commonly referred to as AI, has become a focus of technological development in recent years. These programs appear in our daily lives with the ability to ask our assistants, like Siri or Alexa, to do several things for us. …
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Resources to Help Private Businesses Navigate The Pandemic

Trevor Hood, Partner and President Valuations Divison is a contributor to the Advisory Board on Demand. This group of subject matter experts provides advice and guidance to the CEOs of SMEs who don’t have their own advisory board. Comprising private …
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Free COVID-19 Business Recovery and Planning Guide for Small and Medium-Sized Businesses

As many Canadian businesses continue to struggle through the COVID-19 pandemic, Business Health Council is taking action to help business owners navigate this crisis and adapt to the new realities in 2020 and beyond. SB Partners is proud to be a …

The Impact of COVID-19 on Business: Cash Flow Strategies

Since the spread of COVID-19 SB Partners’ focus has been the safety of its team, clients and community. The firm is committed to keeping ahead on the latest Corona Virus developments and will provide access to resources to help business leaders …

Incorporation for Real Estate Agents in Ontario

Bill 145, Trust in Real Estate Services Act, 2020 received Royal Assent on March 4, 2020 meaning that real estate agents in Ontario are allowed to incorporate their own Personal Real Estate Corporation (PREC). Rules, regulations and licensing …

Pension Planning Ideas

You can start taking your CPP payments as early as 60 or delaying them until 70. You can also take the CPP payments at 61, 62 or 63 up until you reach 70 years of age. If you commence the CPP payments at age 60, your payments will be reduced by 36%. …
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