Effect of Holding Companies on Split Income

Tax on Split Income (‘TOSI”) was introduced in 2017, limiting the use of income splitting which allowed people the ability to income split with family members. While this isn't news, a special exclusion has been affecting holding companies. Learn about the tax planning options for those affected.

Fraud: Better Safe than Sorry

In Canada, the total financial losses due to fraud have reached an average of $200,000 in 2018. Organizations without effective fraud prevention and detection measures expose themselves to serious consequences that go beyond cost.

Learn how forensic accountant can help improve your processes and prevent fraud.

IFRS 16 – A New Leasing Standard

IFRS 16 will be releasing the old leasing standard, effective for annual reporting periods beginning on or after January 1, 2019. 

Learn about the updates and how this will affect lessees with significant operating leases, among others.

Canadian Cannabis Update

In June of this year, the Cannabis Act (or Bill C-45) legalized the consumption of recreational cannabis across Canada.  While there’s still some time before this act is put into motion, now is the time to address the ramifications it will have in the workplace.
From accommodating medical cannabis to updating drug and alcohol policies, there are plenty of actions that need to be taken before October 17, 2018. 

QST Registration Rules for Non-Resident Suppliers

In response to the difficulties the rise of e-Commerce created for Quebec sales tax, the Quebec government introduced the Mandatory Registration System (MRS, also known as “specified registration system”) for non-resident suppliers.
The rules associated with this policy can be difficult to understand for businesses and consumers alike, and could result in stiff penalties if not correctly enacted.

Valuations for Income Tax Purposes – What Does the Canada Revenue Agency (“CRA”) think?

The Information Circular 89-3 (IC 89-3) outlines the general valuation principles and policies adopted by the Canada Revenue Agency (CRA) regarding the valuation of corporations for income tax purposes.
While there are no formal requirements in this policy statement, there are plenty of provisions that would suggest the importance of engaging a Chartered Business Valuator (CBV) to assist with tax-related situations.
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