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Business advisory services Audit and accounting Private enterprise Tax advisory
Farmers and the alternative minimum tax
In recent years, farmland prices have increased significantly across many parts of Canada. At the same time, the average age of the Canadian farmer has risen as well, leading to many farms being transferred to next generations or sold to third parties.
Feb 24, 2021
Green farm land with varying grass lengths creating an interesting organic pattern.
Business advisory services Audit and accounting Private enterprise Tax advisory
The revised T1134 form
The revised T1134 Information Return Relating to Controlled and Non-Controlled Foreign Affiliates was officially released in February 2021. It includes additional questions and more detailed disclosure with a goal of clarifying and enhancing compliance requirements.
Feb 19, 2021
Dark stormy waters with a big whitecap.
Business advisory services Audit and accounting Private enterprise Tax advisory
Farmers and cash-basis accounting: be wary of the word “deemed”
The Income Tax Act (ITA) permits farmers to elect to compute their income from a farming business for a taxation year on a cash basis.
Feb 5, 2021
Green farm land with varying grass lengths creating an interesting organic pattern.
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Business advisory services Audit and accounting Private enterprise Tax advisory
To compile or not to compile?
Many of you are quite happy with the compilation standards in place today. The existing standard on compilation engagements was issued in 1987. While it might have been a revolutionary standard in its day, time has come to make this area of practice more relevant to the needs of users in the current day and age.
Feb 4, 2021
Publications-To compile or not to compile?
Business advisory services Audit and accounting Private enterprise
Considerations when donating goods and services from a business to charity
Registered charities may only issue official donation receipts for gifts of cash or other property. Contributions of services, even if professional or business in nature, are not property and do not qualify for a donation receipt. 
Nov 24, 2020
Tax alert (Use going forward)
Business advisory services Audit and accounting Private enterprise Tax advisory
GST/HST matters for farmers
Although the GST/HST has been with us since 1990, questions still seem to arise regarding what farming-related items are taxable or zero-rated. As a general rule, farmers typically do not charge GST/HST on their sales but do pay GST/HST on their regular purchases. However, there are several exceptions to this rule.
Nov 23, 2020
Green farm land with varying grass lengths creating an interesting organic pattern.
Business advisory services Audit and accounting Private enterprise Tax advisory
Seller beware: tax issues for Canadian residents selling U.S. real estate
For a few years following the 2008 financial crisis, we saw many investors and snowbirds purchasing U.S. properties to take advantage of real estate bargains and a weak U.S. dollar.
Kevin Tippett Oct 6, 2020
Turquoise waters washing up on a yellow sand beach with two people walking the coastline.
Business advisory services Audit and accounting Private enterprise Cybersecurity solutions
Cyber threats to precision agriculture
When I was asked to contribute this article regarding cybersecurity and farming, my mind immediately went to my experiences on the small family farms of my youth, where I helped relatives with haying or cattle and the technology was as complex as an old tractor and square bales. While effective, those tools were nothing like the technologies in use today.
Aug 20, 2020
Green farm land with varying grass lengths creating an interesting organic pattern.
Business advisory services Audit and accounting Private enterprise Tax advisory
The exit of a family farm shareholder
When a shareholder of a family farm wishes to exit the farm operation—whether due to retirement, disagreement with other shareholders, or a desire for a lifestyle change—and there is no shareholders’ agreement in place to dictate the procedures for buyout, negotiations are required between the exiting shareholder and the remaining shareholder(s).
Kathy Byvelds Jul 2, 2020
Green farm land with varying grass lengths creating an interesting organic pattern.
Business advisory services Audit and accounting Private enterprise Tax advisory
Is it time to consider a “refreeze” transaction?
In times of crisis, people can be opportunistic, and this economic turmoil can allow for certain tax planning opportunities. The current economic downturn caused by the COVID-19 pandemic has negatively affected the valuation of many Canadian businesses. Accordingly, it is wise to revisit any estate freeze transactions that may have been implemented at a time in a prior year when the economy was booming.
May 14, 2020
Dark stormy waters with a big whitecap.
Business advisory services Audit and accounting Private enterprise Tax advisory
Business investment losses
In today's business and social environment, more and more owner-managers are struggling to keep their businesses alive. Many find it necessary to inject capital, including personal funds, into their companies.
Apr 23, 2020
Dark stormy waters with a big whitecap.
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