February 10, 2023 by Shannon McIntosh, Manager

Choosing between sole proprietorship and incorporation

Manager, Client Advisory at Baker Tilly Catalyst, Shannon McIntosh has overcome anxiety, insecurity and depression to emerge as a voice of empowerment, helping clients and colleagues exceed expectations and break new ground. In The Bright Side, she taps into her specialized experience working with non‑profit businesses and her passion for helping organizations that support the community to offer enlightening tax, financial and business guidance to help replace self‑doubt with self-belief.

December 12, 2022

Five in five: Rock Lapalme

“As a profession, accounting and how accountants work will benefit profoundly from the trend toward greater automation and artificial intelligence applications.”

December 9, 2022 by Chris Alexander

Self-assessment of GST/HST collected on the sale of real property

The Excise Tax Act (ETA) outlines specific rules regarding the reporting of GST/HST collected on sales of real property used in commercial activity. The ETA requires self‑assessment of GST/HST payable on a transaction by the purchaser, rather than collection and remittance by the vendor. Instead of immediately remitting the GST/HST to the vendor, the buyer is required to declare GST/HST collected and GST/HST paid (if the expense is eligible for an input tax credit) on their own return.

September 22, 2022 by Tammy Carlin

Five in five: Tammy Carlin

“The best advice I ever received did not come through words. It came by observing my longtime mentor in action. Following his lead, [SA1] I prioritize respect, trust, care and empathy in serving clients and mentoring staff.”

August 24, 2022 by Candice McKay

Why farm businesses should move into the cloud

Over the past 10 years, we have seen a great deal of consolidation among agribusinesses. As these businesses grow and accumulate debt, doing the bookkeeping and accounting at the kitchen table is no longer viable. By introducing cloud-based accounting, these businesses are better positioned to address complex reporting requirements.

June 23, 2022 by Kevin Shaw

Five in five: Kevin Shaw

“I feel privileged to be able to share my knowledge and the collective expertise of our team to help our clients realize their aspirations and objectives. That’s what really gets me out of bed each morning.”

June 17, 2022 by Bud Arnold

Structuring a farm business to involve the next generation

If you’re thinking about farm succession planning, there are many areas to consider. One key consideration is determining how to include the next generation in the structure of a farm business while the parents are still involved. If you plan to include more than one generation at the same time, there are several ways you can include a child or successor as a partial owner.

May 26, 2022 by Jarred Cohen

Five in five: Jarred Cohen

“I enjoy learning about clients’ and colleagues’ paths and how they achieved their success – discussing business trends, challenges they’ve encountered and where they see themselves in the future.”

April 28, 2022 by Luther VanGilst

Navigating the new Canadian carbon tax credit

There are currently four Canadian provinces that do not have a provincial carbon tax: Alberta, Manitoba, Ontario and Saskatchewan. As a result, their carbon use is taxed on a federal level. In these provinces, farmers generally do not pay carbon tax on diesel and gas used for farm equipment or farm vehicles, but they do pay carbon tax on the propane and natural gas they use.

March 21, 2022 by John F. Oakey

Are capital gains rates set for a hike?

It’s time to get out the Magic 8-ball, shake it feverishly, stare into the depths of the swirling black mist and ask the question:

“Will the capital gains inclusion rate increase in the 2022 federal budget?”

Before the Magic 8-ball provides us with its mystical answer, let’s review what information we do have to see if we can predict the outcome on our own.

August 23, 2021 by Bud Arnold

The rules of family farm transitions are changing

When selling a farm corporation, there are tax advantages to selling to a stranger than to someone in your own family. It has always been difficult to transition corporate-owned farms to the next generation, because the sale of a corporation within a family is taxed at a punitive rate – one that would be lower if the buyer was an unrelated person.