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

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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 …

CBVs 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 …

Paying the Way Forward

Considerations for income analyses of business owners during separation or divorce for the purpose of determining support payments.

Income Analyses and Personal expenses

How do Personal Expenses Impact Income Available for Support? Section 19(1) of the Family Law Act Ontario Regulation 391/97 Child Support Guidelines (the “Guidelines”) indicates that “the court may impute such amount of income to a parent or …

Business Valuation Models – The What and Why

Is the ‘whole’ greater than the sum of its parts? Having devoted time, money, and energy on starting and growing a business often creates a set of expectations for an owner on the value of their business that is skewed.

Double-Dipping and Matrimonial Matters

What is Double-Dipping in the Context of Marital Breakdown? When I first heard this terminology at work, I was instantly reminded of the Seinfeld episode when George Costanza got into an argument over the social acceptableness of “double-dipping the …

To Buy or Sell Shares or Assets That is The Question?

Our clients often ask us this question when they are looking to purchase or sell the ownership interests in a company “should I purchase/sell the shares of a company or the assets?” Generally speaking, when selling a business, the preferred deal …

Important Information - Ontario Annual Information Return

New Ontario Business Registry The new Ontario Business Registry (the “Registry”) is an online platform that digitizes many of the services provided to organizations that carry out business in Ontario. The registry allows businesses and …

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 …

Tax Considerations of Incorporating Your Dental Practice

Is it time to open your own practice or revise the structure of your existing dental practice? As with other professions, opening a dental practice can be done through three main structures. Sole Proprietorship, Partnership, or Professional …

Business Valuation 101: Fair Market Value

In completing valuation reports, Chartered Business Valuators (CBV) are guided by the principle of fair market value. Fair Market Value (noun) The highest price available, in an open and unrestricted market, between knowledgeable and prudent …

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