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INSIGHTS, NEWS & EVENTS

Our team is always up to something. Read our latest insights, news and updates here.

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 is maintained at all times. ☐ Engage only in allowable activities. A registered charity is allowed to … Continued

Improving Profitability: A Grower’s Guide

Join Landscape Ontario and SB Partners on February 6 for a Lunch and Learn event that will provide insights on improving profitability.  Too often growers face the scenario of Income – Expenses = zero profit Typically, growers know their total cost structure to operate their farm, however, how many can translate that cost to an … Continued

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 may choose to incorporate federally or in one of the 13 provinces/territories. Taking the long view as to where … Continued

Overview of New Draft Legislation to Address Income Sprinkling

On December 13, the government unveiled the final version of the new legislation regarding Tax on Split Income (TOSI) rules effective January 1, 2018. Overall, the legislation proposals extend the tax on split income (“TOSI”) to individuals aged 18 and over (specified adult individuals) as they suggested in the July 2017 proposals.  The intention of … Continued

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. In addition to data analytics, CRA is also looking to third parties for information that might indicate an … Continued

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 have an interaction with the CRA in one way or another … Continued

What Will Review Engagements Look Like for 2018?

In 2016, CPA Ontario issued the new Canadian Standard on Review Engagements (CSRE 2400). The new standard applies to the review of financial statements for periods ending on or after December 14, 2017. The standard replaces the old guidance which was issued in 2003 and was lacking specificity. Review engagements are increasingly becoming more common … Continued

Think Camp 2017

December 5, 2017 | 11:00 a.m. – 2:00 p.m. | Burlington Golf and Country Club To register, please complete the form below: Why does SB Partners’ host Think Camp? Think Camp supports not-for-profit organizations who enhance the health and well-being of our communities. By offering a series dedicated to innovation, motivation and open discussion, you … Continued

Passive Income in a Corporation

What is it? Passive income effectively refers to income earned on funds or investments that are not active business assets. For example, portfolio investments, stocks, bonds, rental properties, real estate investments. Proposed Changes The government is concerned that investing through a corporation creates an opportunity for much more rapid accumulation of wealth than would be … Continued