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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
1. Tax on Split Income Starting 2018 and onwards, every single individual resident in Canada who receives or realizes an amount derived from a private corporation, partnership or trust will need to understand the Tax on Split Income (“TOSI”) rules. Income splitting with non-active family members is severely restricted or not available under the new … Continued
With the spooky, sugary pleasures of Halloween behind us, 2018 begins to wind down, and our thoughts turn toward the New Year ahead. The business climate is unsettled. On one hand, the Bank of Canada is raising interest rates to combat inflation (the fifth hike in 15 months) and predicting solid growth in the months … Continued
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
We are pleased to announce that Raffaele Ruberto CPA, CGA has joined SB Partners as Tax Principal. With over ten years of experience at both multi-national and regional professional service firms, Raffaele looks forward to helping business owners who are facing major business decisions such as selling the business, acquiring another business and complex transactions … Continued
Sell or keep it? That’s a key decision of business owners and largely dependent on whether there are family members who have demonstrated interest and /or been groomed to take over. If you are looking to transition your business to family, a business valuation will typically be used to assist in completing an estate freeze … Continued
Every business owner will exit their business either voluntarily through a planned departure (i.e. the passing of the proverbial torch to the next generation, or via a sale to a third party) or involuntarily through death or disability. Taking the time now to plan for this eventuality provides control and ensures that as an owner, … Continued
Why is SB Partners in business? To care for and strengthen the fabric of our community. We care for and strengthen our clients/business community, the community we work and live in and the community within SB Partners. For the Community we work and live in, here are some of the ways we have been living … Continued
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
The team at SB Partners is ready to help you navigate tax season smoothly. To help assemble your financial information for the preparation of your personal income tax return, a T1 checklist is now available. The list will help you to identify, collect and collate information required for your tax return. Please click here for a copy … Continued