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COVID-19: Updates and Support
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 …
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 …
Budgeting for a Post-pandemic World
The COVID-19 pandemic has taken the world by storm since it was first discovered in late 2019, affecting virtually all strata of human endeavors. Business owners, business advisors, and other business stakeholders were not left out of the onslaught. …
Working from home? You may be eligible to claim some deductions on your personal taxes.
The pandemic has sent many packing from their offices to their homes for work. Some may have been fortunate to already have a dedicated office or workspace in their home, for others it has meant setting up shop. This has raised a lot of questions …
Optimize tax deductions from your rental properties with a good plan
Expense this, deduct that Investing in real estate is a great addition to investment portfolios. Whether you hold property waiting for the value to increase, or utilize it for rental income, investing in real estate has been a popular choice for …
What is an RRSP and How does it work?
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 …
14 Best Tax Tips for Canadians
Below is a summary of year-end tax tips to consider in 2020. 1. Up to $27,830 RRSP ContributionYou have until Monday, March 1, 2021, to make a contribution to your RRSP and be able to take a deduction on your 2020 tax return. Be sure to check your …
New Recovery Benefits
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 …
The Speech from the Throne Sheds Light on the New Economy
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. …
Federal government introduces legislation for new recovery benefits
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 …
The Perfect Storm for Fraud
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 …
AI and Your Business
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. …
Enhanced Canada Emergency Wage Subsidy
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 …
Valuations and quality of earnings
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 …
CERB Repayment
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 …
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