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

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Tip 2 - Tax on Split Income (TOSI) | Tax on Passive Income (TOPI)

This note continues Tax Principal Raffaele Ruberto’s ten-week Friday Tax Tip series, helping business owners and their family members mitigate the new Tax on Split Income (“TOSI”) and upcoming Tax on Passive Income (“TOPI”) rules. As always, if …

Tax Tip 1 - Tax on Split Income | Tax on Passive Income

Each Friday, until the end of January 2019, I will provide helpful information on how business owners and their family members can mitigate the new Tax on Split Income (“TOSI”) and upcoming Tax on Passive Income (“TOPI”) rules. If there are any …

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%. …

Tax Tips for Year-End

1. Tax on Split Income Starting 2018 and onwards, every single individual resident in Canada who receives or realizes an amount derived from a private corporation, partnership or trust will need to understand the Tax on Split Income (“TOSI”) rules. …

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 …

Welcome Raffaele Ruberto

We are pleased to announce that Raffaele Ruberto CPA, CGA has joined SB Partners as Tax Principal. With over ten years of experience at both multi-national and regional professional service firms, Raffaele looks forward to helping business owners …

Sell or Keep it in the Family?

Sell or keep it? That’s a key decision of business owners and largely dependent on whether there are family members who have demonstrated interest and /or been groomed to take over. If you are looking to transition your business to family, a …

Business Valuation – Know the Value to Get the Price

Every business owner will exit their business either voluntarily through a planned departure (i.e. the passing of the proverbial torch to the next generation, or via a sale to a third party) or involuntarily through death or disability. Taking the …

Living Our Why

Why is SB Partners in business? To care for and strengthen the fabric of our community. We care for and strengthen our clients/business community, the community we work and live in and the community within SB Partners. For the Community we work and …

Honouring our Friend and Colleague

It is with sadness that we share that our former colleague and friend, Arch Lawrence passed away on Saturday, February 24th. Arch was a valued Associate Partner when SB was called Scott, Batenchuk & Company and retired in April 1997. If you did not …

2018 Federal Budget Commentary

The federal Liberal government introduced their third budget yesterday. Budget 2018 concentrated more on spending and a political agenda rather than tax changes. We have outlined the key measures in the budget that will affect our clients. Passive …

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Burlington150 Award

SB Partners is proud to announce that John Chisholm, Partner and CEO, is a recipient of the Burlington150 Award. As part of Canada’s 2017 sesquicentennial celebrations, Burlington MPP Eleanor McMahon created Burlington150. The award recognizes 50 …

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 …

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 …

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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.

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