2018 Federal Budget – What Business Owners Need To Know (February 28, 2018) The Minister of Finance, Bill Morneau, presented his third Budget to the House of Commons on Tuesday, February 27, 2018.   We are providing you with the 2018 CPA Canada Federal Budget Commentary.  In addition, we have summarized a streamlined commentary “What Business Owners Need To Know ”.  This is a two page document that focuses on business owners…

2017 PERSONAL INCOME TAX RETURN CHECKLIST As you begin to gather your information for your 2017 Personal Income Tax Return we want to ensure you have provided us with all relevant documentation and receipts so that we can help you get every tax credit and deduction available. Please take a moment to PRINT the 2017 HVGP Personal Tax Checklist.   Feel free to contact us if you have any questions.

In this edition of Tax Tips we share with you an overview of the recent announcement from the Department of Finance regarding Incoming Sprinkling.   There is also more information regarding family loans, commissions paid to a corporation and personal liability for corporate tax debt. Read the full edition here Tax Tips –  January 2018

We would like to take a moment to thank our team for their contributions and dedication in 2017.  In November, we took time out for a team training day at Credit Valley Golf Course where we spent a full day on professional development and discussing ways we can better serve our clients.   Our team takes pride in delivering value to clients by building relationships and providing insights that support their…

On July 18, 2017, Minister of Finance, Bill Morneau announced the release of a Consultation Paper which focused on three tax practices that the Government considers to provide an unfair tax advantage to private corporations and their owners. A number of changes are being recommended for income sprinkling,  passive investment income and capital gains. If your corporation utilizes one of the above planning strategies, please read this Tax Update for Private…

Ontario Accessibility Laws Have you submitted an accessibility compliance report?  A reminder that the deadline to file your report is December 31, 2017. If you or your corporation has 20 or more employees you are legally required to file a 2017 accessibility compliance report. Failure to report may result in legal action being taken against your organization, this can include inspections, Director’s Orders and financial penalties. For information on what…

The CRA recently released fairly substantial proposed changes to the current program, effective January 1, 2018. The proposals are expected to be finalized in the fall of 2017. Take a moment to read the summary of the proposed changes to the Voluntary Disclosure program, and ensure to submit your disclosure prior to the proposed changes effective January 1, 2018. For additional information or questions please contact us.

Our team works hard all year long, but especially during tax season the long hours can take a toll.  This year our team created a fitness challenge, encouraging everyone to take 30 minutes of their day to get moving.    We even incorporated a Saturday team challenge here in the parking lot, and had fun with a team tug of war.    Our season ended with our second annual Tax Season Party…

Finance Minister Charles Sousa tabled the Ontario Budget on April 27, 2017.  The deficit for the 2016-17 fiscal year is projected to be $1.5 billion, with a balanced budget projected for 2017-18, 2018-19 and 2019-20.  The Budget does not include any changes to Ontario’s personal or corporate income tax rates.   Read More Here:  Ontario Budget Commentary April 27, 2017  

CPA Canada Federal Budget Commentary – March 22, 2017 The Federal Government’s 2017–18 Budget gives Canadians a taste of what they might expect over the next couple of years: attempted efficiencies, closed tax loopholes, steady deficits, and a touch of caution. Read our Federal Budget Commentary for more details.