As a leading mid-market firm, we have been serving the Montréal business community for more than 70 years. From real estate to manufacturing, import/export and high-tech to retail and the service industry, we have experience in virtually every sector of the Canadian economy. Committed to professionalism and excellence in personalized service, we adapt to the changing needs of every client. Quite simply, we put our clients first.
With the recent Royal Assent of Bill C-208, owners of incorporated small and medium-sized businesses, and their tax advisors, were reminded that proactively monitoring and maintaining qualifying small business corporation (QSBC) share status is essential to make many tax-planning strategies possible. There are many traps that may cause the unintended loss of QSBC share status, and when the time comes to take advantage of available tax planning, it can be too late to correct the problem.
Waterloo, ON – Baker Tilly Canada, one of the country’s largest networks of independent accounting firms, is excited to expand its presence in Western Canada by welcoming two new Alberta firms: Baker Tilly WCR and Baker Tilly Catalyst. While BT WCR is located in Rocky Mountain House, BT Catalyst will serve clients from three offices – in Calgary, Nanton and Sundre.
Dartmouth, NS – Baker Tilly Nova Scotia Inc. is proud to announce its formal affiliation with Harbinger Law Inc., an independent legal firm.
“The pandemic has only highlighted what we can do with technology and collaboration.”
When it comes to Canadian and U.S. tax deadlines, even the most diligent client needs an occasional reminder. Consult our 2021 tax deadline calendar for a month-by-month overview of key dates that could apply to you. You might even notice a few obligations that slipped your mind.
Toronto, ON – Baker Tilly in Toronto is pleased to announce the arrival of David Downie in the role of principal. With more than two decades of tax experience, he brings his expertise in tax planning (both international and domestic) and reorganization, with a focus on Canadian multinationals and their global operations.
Montreal, QC – For the ninth consecutive year, Collins Barrow Montreal will take part in The Weekend to End Women's Cancer. In August, dozens of participants from the firm will join forces for OneWalk to Conquer Cancer™, the Jewish General Hospital's next-generation fundraiser.
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.
Many family-owned businesses have faced higher tax burdens when transitioning their business within their family. This effect has been due, in part, to two anti-avoidance provisions in the Income Tax Act (ITA) that are designed to prevent unapproved transactions deemed abusive by the Department of Finance. Section 55 prevents unapproved, tax-deferred capital gains stripping; section 84.1 prevents unapproved, tax-free surplus stripping. In a nutshell—an oversimplified nutshell—these two complex anti-avoidance provisions recharacterize what should be tax-free transactions into taxable ones.
Montreal, QC – Back to school is an exciting time for families, but for parents who work hard to cover the basic costs of raising a family, the extra burden of purchasing school clothes and supplies can be stressful financially.
The ups and downs of the pandemic’s impact on business has opened the door to increased activity and more complex deals in mergers and acquisitions. In this episode of the Connected & Ready podcast, Baker Tilly Canada Corporate Finance CEO and managing director Mike McIsaac joins host Gemma Milne for a discussion of the long and short-term trends that got us to this point.
The advantages of buying property are well known to most farmers. It is a great way to build equity in your business and it usually grows in value over time. In addition, owning farmland offers more tax planning options down the road, allows you to avoid rent increases, gives you more freedom in the way you use the land and protects you from losing access to the land, in the event your landlord decides to sell the land or rent to someone else. However, in spite of all these advantages, there are also several reasons it might be preferable to rent farmland.
