Call SB Partners 905-632-5978

Insights, news, and events from SB Partners.

Our team is always up to something. Discover our latest insights here.
Filter posts by:

Changes to Reporting
Requirements for Trusts
Updated March 28th, 2024

UPDATE ON BARE TRUST REPORTING FOR 2023 TAX YEAR: On March 28th, 2024, the CRA announced that Bare Trusts would no longer need to file T3 returns for the 2023 tax year unless a direct request is made. We will update this article when further …

Getting Started with a CRA MyBusiness Account

Working remotely and outsourcing departments presents challenges in efficiency and security. Take advantage of the digital tools available to help your business manage its taxes. They save time, expedite processes, and improve communication within …

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 …

ONCA Provides More Options to Not-for-profit Corporations in Ontario

ONCA Has Arrived…Finally On October 19, 2021, significant changes to the regulations governing not-for-profit corporations (NPCs) in Ontario came into effect when the long-awaited Ontario Not-for-profit Corporations Act, 2010 (ONCA) was brought into …

Budget 2021 propose changes to promote CCPC business investment until 2023

As the Government continues to roll out measures to alleviate the economic impact of the pandemic, the 2021 federal budget proposed legislation for a temporary measure that would encourage Canadian Controlled Private Corporations (CCPCs) to invest …

What Is Your Status? Not-for-Profit vs. Charitable Organizations

Many organizations are becoming increasingly active in philanthropic activities and engagement. The range of causes looking for support is huge. Sector Source, a project run by Imagine Canada, reports over 170,000 charities and not-for-profits in …
A blog post default image.

Resources to Help Private Businesses Navigate The Pandemic

Trevor Hood, Partner and President Valuations Divison is a contributor to the Advisory Board on Demand. This group of subject matter experts provides advice and guidance to the CEOs of SMEs who don’t have their own advisory board. Comprising private …

Incorporation for Real Estate Agents in Ontario

Bill 145, Trust in Real Estate Services Act, 2020 received Royal Assent on March 4, 2020 meaning that real estate agents in Ontario are allowed to incorporate their own Personal Real Estate Corporation (PREC). Rules, regulations and licensing …

Pension Planning Ideas

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%. …

Succession in Family Businesses

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 …

Charity Guidelines Checklist

Specifically, I wanted to highlight the checklists that cover a variety of aspects of charity operations. I have reproduced the basic guidelines checklist below. It is a good reminder of the administrative requirements to insure your Charity status …

Federal or Provincial Incorporation?

Incorporation is an important part of business and given the numerous financial considerations faced by owners, it’s not uncommon to choose the least expensive option. Short-term savings however may not yield long-term advantages. In Canada, owners …
A blog post default image.

CRA Audit Techniques

With the increase in the number of tax payers filing electronically, CRA now has incredible data analytic capabilities.  Anomalies in relationships between financial numbers will often trigger an audit or, at the very least, an information request. …

When CRA Comes Knocking

Part One of a Two-Part Series on the CRA CRA has definitely been more active lately. We see increases in the number of audits as well as the number of pre and post-assessment information requests. As there is an increased likelihood that you will …
A blog post default image.

Income Sprinkling

What is it? It is capitalizing on the lower marginal tax rates of family members and diverting corporate income to them. Proposed Changes The Tax reform proposals generally seek to curb using a corporation to split income with family members in a …

Get in touch with us

Do you have a question for SB Partners? Need help to understand your business financials or value? We’re here to help with all of your accounting needs, please get in touch today.

Email us at help@sbpartners.ca or give us a call at 905-632-5978 or toll-free at 1-866-823-9990.

Want to stay up to date with the latest news, tax tips, CRA alerts, and industry insights? for our newsletter.

Great places to work logo for 2025 and Readers Choice winner logo for 2024

 

  • This field is for validation purposes and should be left unchanged.
  • This field is for validation purposes and should be left unchanged.

Close
Close
We have detected that you are using an outdated browser.

Upgrade to a newer browser for a better experience.

Download Edge