INSIGHTS, NEWS & EVENTS

SB Partners is deemed an essential workplace and will continue to operate at full capacity to ensure client corporate and personal tax filing deadlines are met. We strongly encourage clients to make use of our client portal or email for delivery of any accounting records and T1 documentation that is required. Alternatively, clients can utilize … Continued

Registered Retirements Savings Plans (RRSP) were introduced in 1957 by the government as an alternative vehicle Canadians could use to save for retirement. Essentially it is an account that is to be used as a long-term savings plan, with the “registered” designation implying that the CRA treats funds that are deposited or “contributed” to an … Continued

New Recovery Benefits If you were receiving CERB, you may be eligible for one of the new recovery benefits retroactive to September 27, 2020 and available until September 25, 2021. Canada Recovery Benefit (CRB) The Canada Recovery Benefit will provide eligible workers with $500 per week (taxable, tax deducted at source) for up to 26 … Continued

The recent Speech from the Throne delivered by the Honorable Governor-General on September 23 provided some insight into the direction the government intends to guide the Canadian economy through the remainder of the COVID-19 pandemic and beyond. The speech outlined four foundations: “Protecting Canadians from COVID-19”, “Helping Canadians through he pandemic”, “Building Back Better” improving … Continued

On September 24, 2020, the federal government tabled Bill C-2, An Act relating to economic recovery in response to COVID-19, which creates three new temporary recovery benefits to support Canadians who are unable to work for reasons related to COVID-19. Specifically, the legislation includes: A Canada Recovery Benefit (CRB) of $500 per week for up … Continued

Since the start of the pandemic in March 2020, many companies are operating in a different manner and environment than their historical norm. Our new normal consists of businesses that quickly moved from an office environment to home office work stations with employee discussions using new tools like Zoom to facilitate a connection to the outside world. Companies had to change quickly to … Continued

Artificial Intelligence, commonly referred to as AI, has become a focus of technological development in recent years. These programs appear in our daily lives with the ability to ask our assistants, like Siri or Alexa, to do several things for us. The use of AI in business is on the rise as companies embrace the … Continued

On August 17th, 2020, the Minister of National Revenue, the Honourable Diane Lebouthillier, announced that the Canada Revenue Agency has opened applications for Period 5 – the first period of the enhanced CEWS program. Highlights of the program changes for Periods 5-9 include: The extension of the CEWS, including redesigned program details, until November 21, … Continued

Doors are opening and it is time to get back to business, even a good time to buy one. With the recent upheaval in employment, continued low lending rates predicted over the near to mid- term and work environments being renegotiated, the opportunity to purchase a business is an attractive proposition. Working through financials affected … Continued

In the wake of the COVID pandemic outbreak, the Canadian government introduced the Canadian Emergency Response Benefit (CERB). Financial assistance to employed and self-employed individuals of up to $2000 for a four-week period. That works out to be $500 a week, and the availability of the CERB was extended over several four-week periods. The CRA … Continued

We are often asked to be jointly retained in family law matters where one spouse is a business owner.  We are engaged by both spouses to provide an independent assessment of the value of the business interests for the purposes of dividing matrimonial assets or of the income available to the business owner for purposes … Continued