Welcome to Baker Tilly Ottawa LLP / Baker Tilly Gatineau
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Easing the transition
The Canada Emergency Wage Subsidy (CEWS) has been an important program for businesses struggling with the economic fallout of the pandemic. This program (which began on March 15, 2020) was designed to keep employees on the payroll during a time when businesses were experiencing unprecedented disruption in revenue. The federal government is phasing out this program by reducing the subsidy rate over the remaining four periods, from June 6 to Sept. 25, 2021.
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How to attract and retain talent in the new labour market
As society advances through the pandemic, 2021 could see the highest number of people (re)entering the workforce and changing jobs in recorded history.
The Latest at Baker Tilly Ottawa
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The drawbacks of deferring taxes
Most businesses must pay taxes on all income, including accounts receivable and inventory in the year they are created. However, farm businesses are one of the few exceptions, as they are permitted to pay taxes on a cash basis. As a result, they have the unique ability to deduct prepaid expenses and push income into future years. Rather than pay tax on inventory, they can wait until this inventory has been sold. While most farmers prefer to take advantage of this deferral opportunity, this is not always the best option.
A hot housing market and a change in use equals tax with no cash. But there is a solution.
Most Canadians know that selling their home normally will not result in income tax thanks to the principal residence exemption (PRE). Unfortunately, people tend to extend this "knowledge" into a feeling that they need never worry about tax when dealing with their principal residence.
Corporate Finance
Your go-to resource for investment banking, transaction structuring, M&A and capital advice — whether you’re a buyer, seller, lender, private equity investor or focused on growing or restructuring your business — our Corporate Finance professionals are masters of the art of the deal.
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Tax Forms and Tools
Five in five with: Mike McIsaac
“We believe in continual education and improvement of our processes. This ensures we are prepared to deliver the best results for our clients every time.”
2021 Newfoundland and Labrador provincial budget tax highlights
On May 31, 2021, the NL government released its 2021 budget. The following are highlights of the key tax measures.
Investment Funds
The investment funds industry has experienced significant growth in the last 20 years directly contributing to the wellbeing of the Canadian economy. As the leading advisors to the mid-market investment funds sector, we are the right partners to bring greater financial clarity and guidance.
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Social Networking
Get connected:
Five in five with: Sandy Kirkwood-Pearce
“My talent is being a driving force and creator of excitement about growing, whether it’s our firm or a client’s business.”
Who is more GILTI, Biden or Trump?
The Biden administration’s “Made in America Tax Plan” and what it could mean for U.S. citizens residing in Canada
Five in five with: Deepak Upadhyaya
“In all my work, I apply cross-functional knowledge from a technology, business and risk point of view.”
