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Overview of 2015 Ontario Budget

John Chisholm on April 30, 2015 in Ontario Budget

The budget focused on four key initiatives; investment in infrastructure, the support of skills and training, the creation of a more innovative and dynamic business climate and the provision of income security in retirement.

What Happens When Your Business Accepts an Investor?

Gregory Clarke on July 30, 2014 in Advice for Business Owners

What happens to your business when you accept an investor is dependent on the type of investment and the investor. Investments can take different forms: Debt or loan – this is similar to bank financing where the company records the liability and pays interest on the loan amount. If you have bank covenants, then you … Continued

Employer Source Deductions

Richard Weber on February 13, 2014 in Advice for Business Owners

Good news! Did you know the federal budget is proposing to change the remittance threshold levels in employer source deductions? The proposal is to apply for remittances after 2014. The threshold for remitting two times per month is to increase from $15,000 to $25,000 and remitting four times per month to increase from $50,000 to $100,000. … Continued

Federal Budget Commentary

Richard Weber on February 12, 2014 in Economic Outlook

2014 Federal Budget Commentary Finance Minister Jim Flaherty released the 2014 budget on February 11th and mainly focused on balancing budgets, job creation and growth. He is projecting a decline to the deficit of $2.9 billion for 2014/2015 and a surplus of $6.4 billion for 2015/2016. While there are no major changes/benefits to the taxpayer, … Continued

$530 Million in Funding Through the Federal Government for SOPIs

Elaine Holding on December 6, 2013 in Government Programs

Just announced today, the Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) announced the launch of a new suite of initiatives through the Southern Ontario Prosperity Initiatives (SOPIs). The SOPIs are: Investing in Business Innovation Investing in Business Growth and Productivity Investing in Commercialization Partnerships Investing … Continued

New Tax for High-Income Earners Took Effect July 1

SB Partners Admin on July 18, 2012 in Advice for Business Owners

It’s called a wealth tax and it’s going to cost individuals with a taxable income exceeding $500,000 an additional 2 percent in Ontario taxes. This new tax, which took effect July 1, will be phased in over 2012 and 2013.

New Disbursement Quota Rules for Registered Charities

SB Partners Admin on December 14, 2011 in Advice for Charities

The Federal budget of 2010 introduced changes to the disbursement quota rules for registered charities. In order to retain their charitable status, registered charities have to meet their disbursement quota. Prior to the 2010 budget, the disbursement quota was set at 80% of the total amount for which charitable tax receipts were issued in the … Continued

Overview of Ontario 2010 Budget

Richard Weber on April 7, 2010 in Ontario Budget

The good news is that Ontario’s 2010 budget is very pro business and we believe that is welcome news for our clients. According to a KPMG Competitiveness Study released March 30, Canada is ranked as second among 10 countries as a cost effective place to do business. The study reports that relatively low taxes symbolize … Continued