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E-Mail to Mississauga-Streetsville MP, Gagan Sikand re: Pending Tax Legislation


Tuesday, December 12th, 2017

I remember your visit to the Rotary Club of Mississauga Credit Valley AM prior to your election to 

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TGS Global Conference


Monday, December 11th, 2017

On November 15th the firm welcomed members from the TGS Global Network to Toronto for our annual conference.

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WIP Reserve Professionals


Friday, November 10th, 2017

In its March 2017 Budget, the Federal government proposed to eliminate the ability 

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S+C Partners LLP Voices Concerns over the Proposed Tax Canges


Thursday, November 2nd, 2017

It was an honour to appear alongside the Investment Industry Association of Canada before the Senate Standing Committee on National Finance. Our presentation focused on the recently announced changes to the taxation of private corporations. We believe that these tax changes are unfair and will harm the Canadian economy.

 


Jason O’Halloran, CPA, CA, CFP, TEP, CPA (Illinois), Client Service Partner at S+C Partners LLP speaks at the Senate Standing Committee on National Finance meeting.
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Proposed Tax Changes – An Update


Tuesday, October 24th, 2017

Prime Minister Justin Trudeau and Minister of Finance Bill Morneau made several announcements 

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Morneau’s “unintended consequences”


Tuesday, October 17th, 2017

The Department of Finance’s Backgrounder issued on October 16, 2017 titled “Income Sprinkling Using Private Corporations” 

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Managing risks of fraud


Tuesday, October 10th, 2017

Is your business susceptible to fraud?  What measures do you have in place to assess and address fraud risks?  

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Senior Staff Accountant - Job Opportunity!


Tuesday, October 3rd, 2017

S+C Partners provides first-class professional services, including accounting, tax, advisory and information technology services

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IT Sales Professional Opportunity


Tuesday, October 3rd, 2017

S+C Partners has been helping businesses since 1987.  The S+C Partners team consists of 

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Ontario Minimum Wage Increases


Friday, September 22nd, 2017

As you may know, Ontario is increasing the general minimum wage rate on October 1st.

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July 18, 2017 draft legislation


Friday, September 22nd, 2017

My clients are upset and I am upset too.  My clients are hard working entrepreneurial business owners 

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Liberal Proposed Tax Changes Will Hurt the People They Are Supposed to Help


Monday, September 11th, 2017

On July 18, 2017, the Department of Finance released a comprehensive package of proposed legislative changes aimed at private corporations and their shareholders. These changes deal with long- standing practices available to private corporations and their shareholders, such as income splitting with family members, converting earnings to capital gains, and investing excess corporate earnings. According to the Minister’s letter accompanying these legislative changes, the government’s intention is to “help businesses grow, create jobs and support their communities”. The government aims to accomplish these objectives by “proposing solutions to close loopholes and deal with tax planning strategies that involve the use of private corporations”. However, upon a more detailed review of the proposed legislation, it becomes evident that the new rules are likely to harm the small businesses that they are allegedly intended to help.

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Small Business Owners Respond to Unfair Tax Proposals


Tuesday, August 29th, 2017

We encourage all of our clients to write to the Minister of Finance (fin.consultation.fin@canada.ca) to 

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Initial Coin Offering (ICO) gets noticed by Canadian regulators


Tuesday, August 29th, 2017

Very similar to the well-regulated Initial Public Offering (IPO), of a stock, the Initial Coin Offering (ICO) is an unregulated means of crowdfunding via use of cryptocurrency. During the ICO digital tokens or coins are given to early investors in exchange for money, which the tech companies use as a financial platform for future growth and development efforts.

 

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Who can file Joint Tax Returns in the United States?


Thursday, August 10th, 2017

Generally, married taxpayers may elect to file a joint return or file as married persons filing separately. In most cases, 

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Recent proposals to amend the Income Tax Act


Tuesday, August 8th, 2017

I am writing to express my concern, and dismay, at the direction taken by the Government of Canada 

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Employee Recognition


Monday, July 31st, 2017

One of our tax team members, Vincent Didkovsky, has recently 

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Bye-bye Income Splitting: Government Proposes Changes To The Taxation of Private Corporations


Monday, July 24th, 2017

Delivering on the promise made in the 2017 Budget, Finance Minister Bill Morneau recently announced 

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HST and Importation within the Provinces


Tuesday, July 11th, 2017

Importation and exportation issues surrounding HST/GST do not just exist when taxable supplies cross the Canadian border but also when taxable supplies are imported to participating provinces. 

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What Is Ransomware?


Friday, June 30th, 2017

Ransomware is one it topic that doesn’t seem to be losing momentum any time soon..

Attacks on various industries are becoming daily occurrences. we hear of companies paying huge sums to retrieve their data from the malicious software and often failing to recover their data. The companies affected aren’t familiar with ransomware until it’s too late. so, allow us to introduce you to the infamous ransomware.

Ransomware comes in quite the variety pack these days, but ransomware is not the same as ‘malware’.
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Fair Workplaces, Better Jobs Act, 2017 – Bill 148


Friday, June 23rd, 2017

On June 1, 2017, the Government of Ontario introduced Bill 148, the Fair Workplaces, Better Jobs Act, 2017, which proposes significant amendments to Ontario’s employment and labour legislation.

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Dying without a Will


Monday, June 12th, 2017

We understand that everyone has a busy life and getting a Will in place may not be top 

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Employer Health Tax Changes


Monday, June 5th, 2017

The Employer Health Tax Act includes measures that address tax avoidance structures by incorporating 

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Investing your tax refund


Wednesday, May 10th, 2017

Tax season is finally over and May is the month that brings tax refund cheques to many Canadians. 

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2017 Ontario Budget Commentary


Friday, April 28th, 2017

Introduction

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.

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The Future of Computing


Monday, April 24th, 2017

Businesses today need to maximize productivity, security, and reliability in a cost-effective manner. You may ask, is there an alternative to the typical business IT solution of PC’s and servers? And, if so, could such an alternative reduce your total cost of ownership (TCO)? Yes, indeed!

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An Organization’s #1 Asset – Your Employees!


Monday, April 10th, 2017

An organization's #1 asset is actually their employees. The continued progress of an organization depends greatly on the effectiveness with which it develops its employees, and the amount of value and appreciation that is exhibited towards them, even for the simple things they do within their work day.

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Tax News of the Week


Wednesday, April 5th, 2017

One of the fundamental differences between Canadian tax and US tax is the basis for taxation.

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Federal Budget Commentary 2017


Thursday, March 23rd, 2017

CPA CANADA - FEDERAL BUDGET COMMENTARY

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. Budget 2017 outlines only $200 million in net new spending, but also an increase to the deficit of more than $5 billion for 2017–18, partly due to commitments from the previous budget, reduced revenues and increased general expenses.

 

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2017 Federal Budget Highlights


Monday, March 20th, 2017

The Liberal Government’s 2017 Federal Budget is being delivered on March 22nd.

S+C Partners and KMB Law will be jointly hosting a cocktail reception on Thursday March 30th, 2017.  Come to network with other business owners, and to hear how your business will be affected by the 2017 Federal Budget proposals.

For more information adn to Register click here.

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2016 Personal Income Tax Return Update


Friday, March 10th, 2017

The deadline for filing your 2016 personal income tax return is April 30th or June 15th for self-employed individuals.  A checklist to assist you in gathering and summarizing your information can be accessed through our web site at:  www.scpllp.com

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Should you learn Microsoft Sway?


Tuesday, February 28th, 2017

 

 

What is Sway?

 

Sway is like a fresher version of PowerPoint that allows you to create reports, interactive presentations, newsletters, travel blogs and personal stories using digital storytelling app where you can easily put in ideas and consume digital content like photos, videos, and web pages.

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New record-keeping requirements for Ontario corporations


Friday, February 10th, 2017

On December 10, 2016, amendments to the Ontario Business Corporations Act (“OBCA”) came into effect

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Microsoft Dynamics NAV 2017 – The best business solution from Microsoft yet!


Wednesday, January 25th, 2017

… and when it comes from a sceptic like me, it is not an empty statement. So for the benefit of those that still haven’t heard about Dynamics NAV – what is it?

Microsoft Dynamics NAV (Navision) is multi-language, multi-currency business management solution that helps small and mid-size companies worldwide manage, connect and automate their accounting and finances, sales, purchasing, inventory management, supply chain, and operations. Businesses can start with what they need now, and easily adapt as their needs change.

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2017 Canada Revenue Agency (CRA) Various Maximums and Rates


Tuesday, January 10th, 2017

It’s a new year which triggers changes to the CRA maximums and rates on various items.  Please note the following:

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Dynamics 365 - What is it?


Wednesday, December 21st, 2016

 

It’s a new kid on the block – Dynamics 365 has just launched November 15th, 2016. The simplest way to describe it is as a solution that unifies CRM and ERP capabilities into applications that work seamlessly together across sales, customer service, field service, operations (warehousing, point of sale, manufacturing), financials, marketing, and project service automation.

 

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Important changes to principal residence exemption rules


Monday, December 12th, 2016

On October 3, 2016 the department of Finance introduced changes to the principal residence

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The Ransomware epidemic


Thursday, November 24th, 2016

Cyber security threats and attacks are always evolving. viruses, worms, trojan horses, spyware, adware and scareware have all been around for a long time. However, in 2016 there has been a boom with regard to cyber threat called: Ransomware.

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Mississauga Food Bank


Friday, November 18th, 2016

More than any other time of year there are many people in need.  On Wednesday, November 16th the S+C Partners team went to the Mississauga Food Bank to sort and package food. 

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GST/HST New Housing Rebate and GST/HST New Residential Rental Rebate


Thursday, November 10th, 2016

The purchase of a newly constructed home or rental property or the substantial renovation to

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Enterprise Content Management done right


Tuesday, October 25th, 2016

Have you ever wonder what if it didn’t matter where a document was stored or which system manages it? How easy would it be to file and access all relevant information? So what is stopping us from getting and implementing the perfect solution?

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Changes to Goodwill and Goodwill Crystallization:


Tuesday, October 11th, 2016

Goodwill is an intangible asset that arises when there is a sale of an existing business.

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How to secure privacy on your smartphone?


Tuesday, September 27th, 2016

The computing power of the modern smartphones is comparable with some computers. It is not difficult those days to do almost everything on your phone that you could on your desktop or laptop. It is not surprising then to see much more issues caused by smartphone spyware and viruses.

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Information for charities


Friday, September 16th, 2016

S+C Partners is a Professional Affiliate Member of the Canadian Council of Christian Charities (CCCC). 

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Paying Corporate Taxes for the first time


Tuesday, September 13th, 2016

With advancing technology, the CRA has implemented many ways for a person to pay 

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CRA increasing crackdown on tax evasion and avoidance


Wednesday, August 10th, 2016

To preface this article, it should be clarified what “tax evasion” and “tax avoidance” is. Tax evasion is the act of avoiding tax by disregarding taxation laws and not reporting taxable income. Abusive tax avoidance refers to tax planning to unfairly minimize taxes payable. Many individuals typically express concern regarding the latter, as aggressive tax planning by unsavoury advisors takes advantage and twists the rules of taxation to produce a “too good to be true” scenario that has no legitimacy in the Income Tax Act.

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Pokémon Go – mega marketing machine


Tuesday, July 26th, 2016

It all started in 2014 as an April Fool’s gag created by Google. In order to create an immersive experience for their users, Google created a game in which users looked on Google Maps for Pokémon. In order to catch one of the creatures, you would just tap on it.

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Bill 132


Tuesday, June 28th, 2016

Don’t wait! September 8, 2016 is fast approaching!

 

By now you’ve likely heard the stories in the media surrounding allegations of sexual harassment claims 

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Women with Drive – 2016 Golf Tournament


Tuesday, June 28th, 2016

Another successful event for Trillium Health Partners Foundation - Women with Drive Golf Tournament.

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How safe are those cloud drives?


Friday, June 24th, 2016

In the last two months we have noticed increased number of complaints from cloud drive users loosing their data due to Cryptolocker attacks. A closer research lead us to couple of IT and security forums discussing cloud drive data backup procedures for few major players in the market.

 

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“CRA” Fraud Calls


Friday, June 24th, 2016

The fraudsters are getting more and more slick.  We recently received a call from someone 

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Important US Tax Filing Due Dates


Thursday, June 9th, 2016

Federal tax filing dates for Americans living abroad (Expats) are 

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How to prepare for a CRA audit


Tuesday, May 10th, 2016

A Canada Revenue Agency (CRA) audit is an unpredictable event that can end up consuming a lot of time and causing stress to unprepared small business owners. The CRA can choose to review your income tax 

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Navision Software Developer Implementer Job Opportunity


Wednesday, April 27th, 2016

S+C Partners has an immediate opening for a Navision Software Developer / Implementer with 3 to 5 years’ experience, who understands Navision objects and programming model.  


Development is one of the central roles in a NAV implementation. Previous Navision development experience is required. As such, the candidate must be confident managing various duties: analysis, installation, through to “go-live” support.

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Cloud vs Canadian privacy laws compliance


Monday, April 11th, 2016

Canadian privacy laws compliance should be studied and considered before any Canadian company considers cloud deployment of their IT infrastructure or processing of accounting and client related data in the cloud.  There are considerable risks inherent in the use of foreign, third party software and servers to process and store your client and financial information.

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Federal Budget Commentary


Wednesday, March 23rd, 2016

THEME: ECONOMIC GROWTH, JOB CREATION, STRONG MIDDLE CLASS
When the new government said last year that it would return Canada to deficits, few expected the numbers to jump to nearly $30 billion this year and next and add $100 billion in debt over the next five years. But lower-than-expected revenues have forced the government’s hand, according to Finance Minister Bill Morneau, requiring increased spending to stimulate the sluggish economy and support the middle class.

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2016 Federal Budget Highlights


Friday, March 11th, 2016

Please join us for 2016 Federal Budget Highlights presentation on March 23, 2016. Click here for details and to register.

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Ontario Budget Highlights


Thursday, March 10th, 2016

The recent Ontario budget contained few surprises, particularly from a tax perspective.  The government continues to run a deficit, albeit smaller than predicted a year earlier, and promises this will end next year.

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Thin Client Era


Monday, February 29th, 2016

Most thin clients run on Web browsers or remote desktop software, such as UNIX, Microsoft Terminal Services, VMWare VDI/VDM or Citrix XenDesktop. Using those products, each user's desktop (OS and applications) resides in a separate partition in the server called a "virtual machine" (VM). Users are essentially presented with their own PC, except that it physically resides in a remote server in the datacenter. They can modify the desktop and add applications like they could with their own PC ("fat client").

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Ontario Budget


Thursday, February 25th, 2016

Our tax partner Paul Keul is today in the lockup for the Ontario Budget release. Please stay tuned for an 

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Registered Retirement Savings Plan


Wednesday, February 10th, 2016

A new year is upon us, and with the 2015 deadline to contribute to your RRSP is fast approaching, many media outlets are suggesting investing into a Registered Retirement Savings Plan (RRSP).

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Windows 10 Upgrade? Last-second thoughts?


Thursday, February 4th, 2016

Receiving a pop-up alert for an update to Windows 10? Don’t worry as this is the newest operating system from Microsoft. If you are using Windows 7 or 8.1, you will most probably receive the pop-up on your taskbar.

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An Overview of the Small Business Deductions


Wednesday, January 13th, 2016

The Small Business Deduction (SBD) is a deduction generally available to corporations in order to help 

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My domain .sucks


Thursday, December 10th, 2015

We all know about Internet domain names and the power to promote ones company name or brand. For many years now, Canadian businesses   have struggled with how to address defensive registrations. Most companies have simply chosen to ignore variations of their domain’s names and others have aggressively tried to defend their reputation by registering many different variations of their domain name.

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Liberal Government Tax Changes for 2016


Tuesday, December 8th, 2015

The Federal government has tabled a Notice of Ways and Means, with proposed changes to the Income Tax Act, to take effect January 1, 2016.  

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S+C Partners LLP has joined the TGS Global network.


Thursday, December 3rd, 2015

S+C Partners LLP has joined the TGS Global network.

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The new Enhanced UCCB – What you are really left with.


Wednesday, November 25th, 2015

Last fall, as part of their new measures to make life easier for family, the Conservative Government announced that it was proposing to replace the Child Tax Credit

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Liberal Tax Promises Just-In Time?


Monday, November 16th, 2015

On October 19, 2015 Justin Trudeau won the biggest fight of his career by beating Stephen Harper in the Federal election.

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FRAUDSTERS POSING AS POLICE, DEMAND PAYMENT OF TAX ARREARS


Tuesday, September 29th, 2015

It has come to our attention that in addition to the ongoing fraudulent phone calls from people claiming to represent the Canada Revenue Agency, demanding payment of fictitious tax debts, an individual

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Are you subject to US tax?


Monday, September 28th, 2015

In reality, very few Canadian residents are subject to significant amounts of US tax.  However, the recent introduction of the “Net Investment Tax” (to fund Obamacare) has increased the exposure to US tax for some Canadians.

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Power BI: Connecting to business data that matters to you!


Thursday, July 23rd, 2015

Terms such as “sophisticated visual data analytics” and “easy-to-use report authoring” traditionally

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Write Once, Work Many


Monday, June 29th, 2015

One of the most requested customizations S+C has encountered through the years is the need to display

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Virtualization: The Future of Server Management


Monday, June 15th, 2015

Server Virtualization has been around for a while and is quietly gaining grounds in the IT Infrastructure world. In simple terms it allows

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US Government tracking cross border travel


Monday, June 1st, 2015

Have you ever wondered if you should be filing US Form 8840 (Closer Connection Exception Statement for Aliens)?

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Cash Accounts


Friday, March 20th, 2015

For small businesses, creating a proper internal control environment can be difficult.  At times it may seem like there are not enough staff available to have a proper segregation

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Business Gain through Technology - Why C-level Executives Need to Be Involved


Friday, March 13th, 2015

It is hard to automate business processes and to gather actionable information from your company data

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Do you own foreign property over $100,000?—File Form T1135 online this year!


Tuesday, February 17th, 2015

Starting February 9, 2015, individuals can file Form T1135, Foreign Income Verification Statement,

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Coming Soon: Mandatory Direct Deposit with the CRA


Friday, February 6th, 2015

As you may be aware, the Government of Canada is aiming to phase out cheques and move solely to direct deposit.

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Expanding your Business to the US?


Thursday, January 29th, 2015

We were recently apprised of an upcoming Investor Summit in Washington, D.C., sponsored by the US government (through SelectUSA).

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Beginner’s Guide to Personal Taxation and Checklist for Summiting Documents to your Preparer


Tuesday, January 27th, 2015

Please note: This article will not go over advanced tax topics. Rather, it serves as a guide for rudimentary tax issues

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Whom should you designate as Beneficiary (Estate/Children) for your Retirement and Tax Free Savings Account, if you are a surviving spouse?


Monday, January 26th, 2015

Lately we have received a number of queries from surviving spouses for guidance in determining the beneficiary

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SpeedFusion: The Internet Connectivity Bond That Never Breaks


Friday, January 16th, 2015

The Internet. Can we really live without it today? Most of the things that we do in our day to day lives

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Ask the expert: How is investment income taxed in my Ontario holding company?


Friday, January 9th, 2015

Investment income is not taxed at the preferential small business rate of 15.5%.  Investment income can be

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Recent Posts

December 12th. 2017
E-Mail to Mississauga-Streetsville MP, Gagan Sikand re: Pending Tax Legislation

December 11th. 2017
TGS Global Conference

November 10th. 2017
WIP Reserve Professionals

November 2nd. 2017
S+C Partners LLP Voices Concerns over the Proposed Tax Canges

October 24th. 2017
Proposed Tax Changes – An Update

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At S+C Partners we take a holistic view of our client relationships to ensure that our clients needs are met on a timely basis.
S+C Partners LLP provides full service accounting services including assurance,  taxadvisory  and information technology  to support our clients financial commitments, minimize tax liabilities, optimize profitability and automate business processes to clients in Mississauga and the Greater Toronto Area.

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