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Should I take money out of my Holdco to max out my TFSA?

Thursday April 7, 2022

Question: I have about $300,000 invested through my Holdco as retirement savings. The investment is growing, but I haven't maxed out my TFSA yet. Should I take the money out of my Holdco, pay the tax on it, and let it grow tax free in [...]

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Cloud ERP – is it worth the upgrade?

Wednesday March 23, 2022

It isn’t uncommon for small to mid-sized enterprises (SMEs) to outgrow their siloed, off-the-shelf software after a few years. As inventory, accounting or payroll needs become more complex, centralizing information across the company and automating specific processes becomes increasingly necessary to plan and [...]

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2021 Personal Income Tax Return Update

Tuesday February 22, 2022

The 2021 personal income tax filing deadline is May 2,2022, and the filing deadline for self‐employed individuals and their spouses (including HST returns) is June 15th. The late filing of your tax return will result in a CRA penalty of 5% of any [...]

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2021 T1 Checklist

Thursday February 17, 2022

The 2021 tax filing season has arrived and S+C Partners is here to help you get every tax credit and deduction you’re entitled to. Our 2021 T1 Checklist is now available to assist you in organizing all the items required to complete your [...]

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Should you Buy Commercial Space for your Business?

Friday January 28, 2022

One of the bigger decisions faced by most business owners is whether or not to purchase or lease their place of business. There are advantages and disadvantages associated with both, and the decision requires a lot of analysis and planning. Here are some [...]

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NEWS New Trust Reporting Requirements on Pause plus changes to the CEBA Loan Repayment Deadline

Friday January 14, 2022

New Trust Reporting Requirements on Pause The legislation to support the new T3 beneficial ownership disclosures that was proposed in the 2018 budget—and that was set to come into effect for trusts with December 31, 2021 year ends—is still pending, as it has [...]

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Introducing our newest Client Service Partner and Associate Partners

Saturday January 1, 2022

Our newest Client Service Partner: Simon Sham Please join us in congratulating Simon Sham, CPA, CA on his promotion to Client Service Partner. Simon joined the S+C Partners team as an Associate Client Service Partner in July 2019 following several years employed as a Senior Tax [...]

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Potential U.S. Tax Changes to Keep An Eye On

Thursday December 16, 2021

Some U.S. tax changes may be on the way that U.S. citizens living in Canada and Canadian companies doing business in the U.S. should be aware of. Although the ‘Build Back Better’ legislation passed by the U.S. House last month didn’t include many [...]

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Making the Most of Your 2021 Charitable Donations

Tuesday November 30, 2021

In addition to the satisfaction gained from directly supporting the causes and organizations important to you; charitable donations can also help improve your personal tax situation. If your income is above $220,000, you can receive the maximum 33% non-refundable federal tax credit (plus [...]

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