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Update on Verification of Suppliers’ GST/HST Numbers for ITC Claims

Section 169(4) of the Excise Tax Act requires a purchaser to substantiate its input tax credit (ITC) claim by obtaining information from the supplier, including the name of the supplier and the GST/HST registration number assigned to it. This …
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Buy Your Equipment Now! Capital Cost Allowance - Class 29 is Disappearing

Are you planning on purchasing equipment for your business in 2016? If you purchase that equipment and it is available for use before January 1, 2016 you could use the accelerated CCA Class 29 which would allow you to write off the cost of the …
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The Pros of Processes and Procedures

Einstein defined insanity as doing the same thing over and over but expecting a different result. In business, repetition of processes with the purpose of achieving the same result is the desired outcome. Standard results are valued as a predictor …
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Pulling the Trigger: Pros and Cons of the “Shotgun Clause”

What is it? The shotgun clause is a common tool in Shareholders’ Agreements that function as follows: i) Shareholder A tenders an offer to purchase all of Shareholder B’s shares for a specified price per share. ii) Shareholder B then has the choice …
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Embracing Community Involvement

We are proud to announce that John Chisholm, Partner & CEO, has accepted the request to be the Honourary Chair of this year’s Burlington Community Foundation’s Masquerade Ball.
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New Mobile App Offers On-the-Go Tax Management

A new mobile app launched by the Canada Revenue Agency (CRA) promises to provide easy and secure access for taxpayers to  access data and view personal information such as: Taxes, assessments and return status RRSPs and TFSAs Benefit and credit …
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Separating YOU From Your Business

Previously, I wrote a blog about business value drivers and how certain factors can impact the value of a business. Now I’d like to address what is probably the biggest value driver in any small to medium enterprise – you as the business owner.
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Giving Tax Shelters

It’s the season for thinking about gifts and stores are busy with people completing their shopping. One present you won’t find in a mall however, are tax shelters presented as gifting schemes.
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New Tax Credit Benefits Farmers

Tax credits are one way the government supports businesses and farmers are no exception. On September 29, 2014 the Ministry of Agriculture, Food and Rural Affairs announced a new incentive called the Food Donation Tax Credit for Farmers.
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Charitable Donations - Ensuring Legitimacy

Charitable donations make all sorts of sense: they support worthy causes, donors can be eligible for tax write-offs and let’s face it, helping others makes us feel good.
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Five Reasons Auto Dealers Should Have a Personal Financial Plan - Part 3 Account for Risk

Most business owners don’t take into account the level of risk that they have in their own private business.
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Five Reasons Auto Dealers Should Have a Personal Financial Plan - Part 2 Manage Assets

Today we reveal the second reason why developing a comprehensive financial strategy is important to an auto dealer’s long-term financial success. Manage Assets After the plan has been developed, the portfolio needs to be managed.  Recognizing that …
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5 Reasons Auto Dealers Should Have a Personal Financial Plan - Part 1 Secure Your Future

Most auto dealers would agree that personal financial planning is important but too often multiple priorities and the daily pressures of the business distract from developing a comprehensive strategy. Over the next five weeks, read through why …
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Removing Emotion from Corporate Succession Planning

Separating business needs from emotional responses. That’s the challenge facing family business owners...
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When Extreme Weather Hits

As seen by the major flooding in Alberta last summer, natural disasters can escalate quickly. During these events, filing deadlines are put on the back burner and personal safety takes priority.

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.

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