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RRSP vs TFSA - A Matter of Timing

Friday February 22, 2019

RRSP vs TFSA? This is a common question when it comes to saving for retirement. It isn’t always financially possible to maximize the annual contribution to both, so many people often need to prioritize and invest in the registered savings account that makes [...]

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Simplify your GST/HST reporting with the Quick Method

Monday February 11, 2019

Calculating GST/HST can be an onerous task for many small business owners. The quick method of accounting is an option available to many small businesses that allows you to simplify your GST/HST calculation, reduces paperwork, and makes it easier to file GST/HST returns. [...]

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Do you do business in the US? Sales tax changes in South Dakota could have broad implications if other states follow suit.

Friday December 14, 2018

A US Supreme Court ruling in June 2018 (South Dakota v. Wayfair, Inc.) has lowered the bar for sales and use tax nexus in South Dakota. The decision means that a physical presence in the state is no longer required and South Dakota [...]

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US Tax on Retained Earnings of Foreign Corporations

Friday February 16, 2018

Shortly before Christmas, the US congress passed a massive tax reform bill. The reduction in personal and corporate tax rates has received significant attention. One of the lesser known aspects of the bill, is the US tax on accumulated retained earnings of foreign [...]

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Trump’s Tax Plan

Wednesday December 20, 2017

On December 19, 2017, the Conference Committee between the House and Senate concluded and their final version of the Tax Cuts and Jobs Act was released to the public. This pending legislation is very complex and wide-ranging, affecting individuals, business and also estates [...]

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

Thursday November 2, 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 [...]

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Proposed Tax Changes – An Update

Tuesday October 24, 2017

Prime Minister Justin Trudeau and Minister of Finance Bill Morneau made several announcements during the week of October 16th, indicating that the Liberal government intends to stay the course with the majority of the proposed tax changes. They then proceeded to withdraw a [...]

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Morneau’s “unintended consequences”

Tuesday October 17, 2017

The Department of Finance’s Backgrounder issued on October 16, 2017 titled “Income Sprinkling Using Private Corporations” is full of contradictions that you need to know about. 1. The government has not lowered taxes for middle class Canadians (still as yet an undefined class [...]

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

Monday September 11, 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 [...]

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