BakerTilly.ca Logo

The Latest at Baker Tilly Dartmouth

  • Baker Tilly

    The difference between expenses and capital expenditures

    The tax implications of expenses and capital assets are quite different, so it’s important farm businesses understand these implications before making a significant investment in new assets or renovations. Unfortunately, the difference is not always clear. When a farm business spends money on a project that is deemed a repair, this can be deducted in the current tax year as an expense. However, if money is spent on a capital improvement, that gets added to the cost of the asset, which is then depreciated over time. In other words, rather than get the full benefit of the deduction in the year the investment is made, businesses see this benefit gradually, over a number of years, depending on the class of the asset and the depreciation rate. That is the fundamental difference between expenses and capital expenditures.

    Baker Tilly

    Digital Services Tax Act update

    In August 2023, the Department of Finance released its draft of the Digital Services Tax Act (DSTA) with the intent to introduce legislation aiming to tax certain large domestic (and foreign) businesses on their Canadian digital services revenue.

  • Baker Tilly

    Baker Tilly Canada Capital facilitates insurance firm partnership

    Windsor, ON – Baker Tilly Canada Capital Corporation is pleased to announce a strategic partnership between All-Risks Insurance Brokers Limited (All-Risks) and StoneRidge Insurance Brokers (SIB). Baker Tilly Canada Capital served as exclusive financial advisor to All-Risks and its shareholders.

    Baker Tilly

    The risks and rewards of artificial intelligence

    It’s rare to get through a day in 2024 without considering the state of artificial intelligence (AI) and where it is likely to go next. Just a few short years ago, it played a limited role in our daily lives, and it now seems to be everywhere.

  • Baker Tilly

    Meet Harbinger Law

    An innovative collaboration of accounting and legal services, we now offer clients an integrated team of experts.

    Baker Tilly

    Baker Tilly Toronto announces partnership with SickKids Foundation

    Toronto, ON – Baker Tilly Toronto proudly announces a five-year partnership with SickKids Foundation that will contribute funding and employee engagement opportunities in support of The Hospital for Sick Children (SickKids), Canada’s most research-intensive medical facility and the country’s largest centre dedicated to improving children's health. 

    Baker Tilly

    Data, AI and other tech revolutionizing the farm industry

    Today’s farming businesses are facing unique challenges, but there are exciting new tools at their disposal that offer new possibilities. These tools are getting more sophisticated every day. By simply tracking recent trends in the agriculture industry, we can start to get a sense of where the sector is likely to go next. One fact seems undeniable: data and artificial intelligence (AI) are here to stay. Both are essential tools that can transform any farm’s sense of what is possible. In this article, we’ll take a closer look at how high‑tech tools are revolutionizing the farm industry.