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INSIGHTS, NEWS & EVENTS

Our team is always up to something. Read our latest insights, news and updates here.

Health & Leadership

John Chisholm, Partner and CEO of SB Partners discusses 3 things that any leader can start today to help establish a healthy leadership edge…

Quebec QST Changes

Non-Canadian Residents Effective, January 1, 2019, non-Canadian resident suppliers of intangible personal property and services will be required to register under the new QST system if consideration for all taxable supplies provided to consumers located in Québec exceeds $30,000 in the preceding 12-month period. Read More GST/HST Registrants Effective, September 1, 2019, non-Canadian resident and … Continued

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%. The 36% reduction … Continued

Succession in Family Businesses

As a family business prepares for succession, it is critical to factor family dynamics into the equation. Most businesses have clear financial disciplines, production processes, sales and marketing practices, and so on. Meanwhile family dynamics are often overlooked, though they often emerge as the most disruptive element in the business transition. Rooted in deep-seated emotions … Continued

Succession Planning: Starting the Discussion

A 2012 report by economist Benjamin Tal stated that “Canadians over the age of 50 are the fastest growing segment of the startup population, owning nearly 30% of new businesses.” As baby boomers move towards retirement, those that have their own business need to start thinking about what they are going to do with what … Continued

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 may choose to incorporate federally or in one of the 13 provinces/territories. Taking the long view as to where … Continued

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. In addition to data analytics, CRA is also looking to third parties for information that might indicate an … Continued

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 lower tax bracket who do not work in the business.

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 business, the typical categories of financing include working capital financing, equipment and leasehold improvement financing and real estate financing. Lenders often respond … Continued

Proposed Tax Planning Changes for Private Corporations

On July 18th, the Federal Government’s Department of Finance announced significant proposed changes to certain mainstream tax planning. Details have been released in a comprehensive, technical consultation paper focusing on tax practices commonly used involving private corporations. A brief summary of the proposed changes: Income splitting (dividends and salaries) with adult related individuals (i.e. spouses … Continued