Baker Tilly Canada | Insights

Insights

Considerations on incorporating your business or professional practice

If you have an unincorporated business or professional practice, consider incorporating to take advantage of various tax planning opportunities not otherwise afforded to unincorporated businesses.

Indirect tax Tax advisory

Providing services to a non-resident? Prove it!

This article is to shed light on the age-old question – are the services I am providing to a non-resident exempt from tax or not? As is true of most questions relating to sales tax implications, there is no clear-cut answer. To answer this question, you need to contemplate several other questions first.

Indirect tax Tax advisory

GST/HST relief for hospital parking? Maybe!

On January 24, 2014, the Department of Finance released draft legislation to provide a GST/HST exemption for public hospitals providing parking primarily for the use of their patients and visitors, effective immediately. The government stated: “Hospitals are encouraged to pass on the savings.” It will remain to be seen if hospitals do pass these savings on to the public.

The Foreign Account Tax Compliance Act (FATCA): What you need to know

The Foreign Account Tax Compliance Act, or FATCA, comes into effect in July 2014. Collins Barrow's Status Updates from Lady Liberty infographic shares some insights on this legislation and other important U.S. tax reforms.

What you need to know about U.S. taxation

Spending the winter down south? Collins Barrow’s U.S. taxation infographic shares some key information that you need to know.

Community Food Program Donation Tax Credit

On November 6, 2013, the Ontario government passed Bill 36, otherwise known as the Local Food Act, 2013. Among other initiatives, this bill includes an amendment to provide a tax credit to Ontario farmers who donate certain agricultural products.

Audit and accounting

Technical Bulletin - January 2014 - Part 2

PART 2: This technical bulletin covers the various developments from October to December 2013. Collins Barrow regularly publishes Technical Bulletin for the general interest of its clients and friends to highlight the continually changing accounting and assurance standards, and the interpretations thereof, in Canada.

Audit and accounting

Technical Bulletin - January 2014

This technical bulletin covers the various developments from October to December 2013. Collins Barrow regularly publishes Technical Bulletin for the general interest of its clients and friends to highlight the continually changing accounting and assurance standards, and the interpretations thereof, in Canada.

Key tax deadlines for 2014

Tax season is fast approaching. Collins Barrow's Key Tax Deadlines for 2014 infographic will help you keep an eye out for important tax deadlines in 2014.

Tax Savings Opportunity: Prescribed Interest Rates Decrease Back to 1%

On December 13, 2013 the Canada Revenue Agency announced that the prescribed annual interest rate will be reduced back to 1% for the period from January 1, 2014 to March 31, 2014.

Cross border and international Tax advisory

Mandatory FBAR E-filing

The U.S. Foreign Bank and Financial Accounts form (FBAR) has garnered much attention in recent years due to the enormous potential penalties associated with filing the form late. The FBAR has also been a target of the IRS. In 2009, then Commissioner of the IRS, Douglas Shulman, stated, “If you are a U.S. individual holding overseas assets, you must report and pay your taxes or we will be increasingly focused on finding you.”

Solutions within reach

Wherever you need us.