Accounting Blog for Businesses in Burlington, Oakville & Hamilton | SB Partners

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SB Partners is a Great Place to Work – Burlington’s Award-Winning Accounting Firm Receives Certification

Burlington, Ontario – SB Partners, a leading Chartered Professional Accounting firm in the Greater Toronto Area (GTA), is proud to announce its recent certification as a Great Place to Work™. The firm has received recognition for its outstanding …

What’s New for 2022 Tax Season

What’s New for 2022 in Income Tax Credits and Deductions We recently sat down with Brent Sousa, Senior Manager of SB Partners, to discuss what is new for 2022 tax credits and deductions on our podcast. In the wake of the pandemic and reconfigured …

Recession Proofing Your Business

Opportunities for Business Owners during Recessionary Periods Recessions need not be all doom and gloom for business owners. In times of economic downturn, some opportunities open for business owners, and in some cases their families as well, that …

Assurance vs Financial Statements

Regardless of the size of your company, having good financial reporting is essential for both internal and external stakeholders. To enhance the accuracy and validity of financial statements, an assurance engagement provides additional level of …

Underused Housing Tax (UHT): Understand Your Filing Requirements or Risk Significant Penalties by the CRA

The Underused Housing Tax (UHT) is a new tax in Canada, which took effect on January 1, 2022. It is an annual tax of 1% on the ownership of vacant or underused residential properties. The tax applies to non-resident, non-Canadian property owners and …

SB Partners Commits to 5-Year Sponsorship of Joseph Brant Hospital’s Mental Health Redevelopment and Expansion Project

At SB Partners, we have a strong commitment to supporting the community. While our mission is a dedication to client service excellence, enriching employee experience, and contributing positively to our communities. Our Vision is very community …

M&A Do's and Don'ts for Sellers

Further to our recent article M&A Do’s and Don’ts for Purchasers we wanted to take a moment to highlight our top Do’s and Don’ts as it relates to those looking to sell a business:

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 …

Tax Planning for Canadian Snowbirds: Understanding the Tax Implications of Spending Time in the U.S. and Abroad

Flying as a Non-Resident Alien Through Tax Planning The snow is flying, and the snowbirds are heading to the sun. The migration is filled with anticipation of warmer days ahead but a lack of planning before departure can leave a sunny destination …

What You Need to Know About the Toronto Vacant Home Tax (VHT)

All residential property owners in Toronto will be required to submit a declaration of their property’s occupancy status for the previous year, even if they live there. Failure to do so may result in being subject to additional tax.

M&A Do's and Don'ts for Purchasers

Amidst the talk of increased interest rates worldwide leading to an impending recession, we want to highlight that these recessionary periods often provide great opportunities to expand your business or purchase rival businesses and/or complementary …

CBV's and Family Law

As detailed in our blog on Income Analyses, there are two primary financial aspects in a marital separation or dissolution of a common-law relationship. These two aspects relate to the equalization of property or the splitting of the net assets …

2022 United Way Campaign

SB Partners Raises $17,829 for United Way Halton and Hamilton SB Partners is a committed community partner. We have strong ties with the United Way Halton and Hamilton. Each year we participate in a workplace fundraising campaign in support of the …

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 …

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