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Disability Tax Credit

CRA Improves Access to Disability Tax Credit; Includes Type 1 Diabetes In June of 2022, the government announced that eligibility for the Disability Tax Credit (DTC) would be extended to include those suffering from Type 1 Diabetes. This means more …

Canada Underused Housing Tax

In June 2022, the Canadian federal government’s Underused Housing Tax (UHT) Act received royal assent. Following the example set by British Columbia with its Speculation and Vacancy Tax, the government has set out to address concerns regarding …

Paying the Way Forward

Considerations for income analyses of business owners during separation or divorce for the purpose of determining support payments.

Income Analyses and Personal expenses

How do Personal Expenses Impact Income Available for Support?   Section 19(1) of the Family Law Act Ontario Regulation 391/97 Child Support Guidelines (the “Guidelines”) indicates that “the court may impute such amount of income to a parent or …

Ontario Staycation Tax Credit

The first long weekend of the summer season is already in the rear-view mirror, but with several more to go, there is a temporary tax credit you should consider while planning your annual excursions. In an effort to help support the hospitality and …

Business Valuation Models – The What and Why

Is the ‘whole’ greater than the sum of its parts? Having devoted time, money, and energy on starting and growing a business often creates a set of expectations for an owner on the value of their business that is skewed.

Double-Dipping and Matrimonial Matters

What is Double-Dipping in the Context of Marital Breakdown? When I first heard this terminology at work, I was instantly reminded of the Seinfeld episode when George Costanza got into an argument over the social acceptableness of “double-dipping the …

2022 Federal Budget Commentary

On April 7, 2022, The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, delivered Budget 2022 – A Plan to Grow Our Economy and Make Life More Affordable (Budget 2022). This budget is the first federal budget since the 2021 …

To Buy or Sell Shares or Assets That is The Question?

Our clients often ask us this question when they are looking to purchase or sell the ownership interests in a company “should I purchase/sell the shares of a company or the assets?” Generally speaking, when selling a business, the preferred deal …

Important Information - Ontario Annual Information Return

New Ontario Business Registry The new Ontario Business Registry (the “Registry”) is an online platform that digitizes many of the services provided to organizations that carry out business in Ontario. The registry allows businesses and …

5 Tax Tips to Consider Before You File Your 2022 Return

It’s officially tax season! Before you file your 2022 tax return, consider these tax tips to help maximize your benefits.

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 …

Tax Considerations of Incorporating Your Dental Practice

Is it time to open your own practice or revise the structure of your existing dental practice? As with other professions, opening a dental practice can be done through three main structures. Sole Proprietorship, Partnership, or Professional …

Business Valuation 101: Fair Market Value

In completing valuation reports, Chartered Business Valuators (CBV) are guided by the principle of fair market value. Fair Market Value (noun) The highest price available, in an open and unrestricted market, between knowledgeable and prudent …

Net Working Capital and the Sale of a Business

Before discussing how to minimize the impact of the Net Working Capital issue, it is important to understand what we mean by Net Working Capital and the significance of Net Working Capital to the structure of a transaction. To start, it is important …

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