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Audit and accounting
Indirect tax
Tax advisory
Proposals address tax recovery on excess payments
Department of Finance introduced draft legislation on January 15, 2019 in response to errors made by the Phoenix payroll System regarding overpayments to public service employees. Although this legislative response was to deal with the aftermath of the Phoenix System, the proposal applies to both the public and private sector.
Jan 31, 2019
Business advisory services
Audit and accounting
Private enterprise
Tax advisory
Family trusts: the aftermath
The last 24 months have seen a deluge of tax announcements from Ottawa with adverse impacts on private family businesses and corresponding family members. Announcements were implemented, modified and shelved, so taxpayers and advisors are still coping with the changes. Many taxpayers are understandably confused about which planning strategies remain available.
Jan 29, 2019
Audit and accounting
Private enterprise
Tax advisory
Favourable tax treatment for land clearing and drainage
The tax treatment of clearing and tile drainage of agricultural land differs based on the ownership and use of the land. This article discusses the treatment under the most common scenarios. Compared to other businesses, farmers receive favourable tax treatment for these types of expenditures.
Luther VanGilst
Jan 23, 2019
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Audit and accounting
International
Indirect tax
Tax advisory
Time is running out to get caught up with the IRS
The IRS warned recently that the <a href="https://www.irs.gov/individuals/international-taxpayers/streamlined-filing-compliance-procedures" target="_blank">Streamlined Filing Compliance Procedures</a> may end. The message is clear: don’t wait any longer.
Trevor Reid
Jan 14, 2019
Business advisory services
Audit and accounting
Public markets
Indirect tax
Tax advisory
The evolution of GST/HST and orthodontists
Orthodontists have faced difficulties in complying with the Goods and Services Tax (GST) since it was introduced on January 1, 1991.
Dec 28, 2018
Business advisory services
Audit and accounting
Private enterprise
International
Indirect tax
Tax advisory
Are you selling to U.S. customers? What the Wayfair decision means to Canadian Companies
The recent ruling of the Supreme Court of the United States in <em>South Dakota v. Wayfair, Inc.,</em> while receiving little coverage here in Canada, may have a substantial impact on how Canadian companies do business in the United States. In what may be a game changer for online retailers, the ruling has opened the door for individual states to enforce sales tax collection on sales <em>shipped</em> into their state, even where the seller has no physical presence.
Darlene Shaw
Dec 20, 2018
Business advisory services
Audit and accounting
Private enterprise
Indirect tax
Tax advisory
Breaking down changes to the small business deduction
In Canada, corporations may claim a small business deduction (SBD) on their corporate tax returns, effectively reducing the corporate tax rate on the first $500,000 of taxable income from active business income (ABI). ABI does not include aggregate investment income.
Dec 12, 2018
Audit and accounting
Quebec 2018 Fall Economic Update
On December 3, 2018, Quebec’s Minister of Finance Eric Girard, under the newly elected Coalition Avenir Quebec government, provided a fall economic update.
Dec 7, 2018
Audit and accounting
Private enterprise
Indirect tax
Tax advisory
Succession and estate planning
Post-mortem planning after TOSI
The Tax on Split Income (TOSI) regime has had significant impact on tax planning strategies for owner-managed businesses.
Sarah Netley
Dec 4, 2018
Audit and accounting
Private enterprise
Tax advisory
2018 fall economic update
The single tax measure introduced in the 2018 fall economic update was accelerated capital cost allowance for eligible property.
Nov 22, 2018
Business advisory services
Transaction services
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Audit and accounting
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Indirect tax
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Farm corporations: you don’t need to “go all in”
Accountants regularly advise of the tax and accounting benefits available to corporations. But there remain some producers who are reluctant to take the next step and incorporate their farm operations. With some recent harvest reports of higher than average yields, it is time once again to look at the pros and cons of incorporating.
Sep 21, 2018
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