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When an organization is undergoing an audit or a review, it can be difficult to understand the differences between the two; after all, both are known as assurance engagements and need to comply with accounting standards for private enterprises (ASPE). Audits and reviews are closely linked but they fulfill different needs and are associated with different
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It’s a simple question, but one you’ve probably heard different answers for. As a business owner, how long do you have to keep your tax records? Is there a statute of limitation of how far back they can go to audit you? Well, here’s the answer, straight from the source. According to the Canada Revenue
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The Canada Revenue Agency (the “CRA”) has recently announced a number of significant changes in relation to the disposition of residences. Section 40(2)(b) of the Income Tax Act provides a possible exemption on the gain when the property is sold. The exemption is applicable when the test in Section 40(2)(b) is satisfied and the property
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AMENDMENT TO THE BUSINESS CORPORATIONS ACT (ONTARIO) 2016 There is a new requirement for every Ontario corporation to prepare and maintain, at its registered office, a register of its ownership interests in land in Ontario. This change is effective December 10, 2016. Currently, Part XI of the Business Corporations Act (the “Act”) requires Ontario corporations
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Are you looking for cash funding to grow or maintain your business? When business owners think about financing from a bank, they’re usually thinking about procuring a “short term loan.” A term loan offers a business owner a cash payment that is to be paid back in installments over a specified period of time. For the duration
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On November 24, 2016, Hogg, Shain & Scheck (HSS) will be attending the Ted Rogers School of Business Management & School of Accounting & Finance Awards Ceremony to present the HSS Professional Corporation Award to two deserving undergraduate recipients. The Hogg, Shain & Scheck Professional Corporation Award recognizes full-time students whose major is Accounting and
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Hogg, Shain & Scheck (HSS) was honoured to be a winner for the 4th Annual International Finance Awards (IFA) 2016. The Award for Excellence in Strategic Financial Accounting – Ontario & Sustained Excellence In Tax Services and the award for Best Auditing & Tax Accounting Firm – Ontario was bestowed upon HSS, putting them at
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On Tuesday, October 4, 2016, Hogg Shain & Scheck proudly presented and hosted a harvest-themed Open House to welcome all staff and clients to their new offices. It was a huge success that was filled with laughter, learning, and celebration. Attendees from prominent financial institutions and partner groups such as RBC, BDC, and TD were
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Newton’s Electric Open House From May 13-14, 2016, Newton’s Electric, an electrical and automotive company in Brampton, hosted an open house event for their customers and suppliers. As Newton’s Electric is one of our clients, we wanted to support this special open house event. To show our support, we set up a vendor booth for
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Hogg, Shain & Scheck – Special Edition Dinner Event Featuring David Shribman American politics are at a pivotal point in history. This year’s presidential race features candidates who all have unique platforms and values. No other candidate however, is as eccentric, bold and unfiltered as Donald John Trump. On June 1, Hogg, Shain & Scheck
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Hogg, Shain & Scheck is proud to announce our newest members! We’d like to welcome Maria Kosinevska, Jordan Gabriel and Asifur Rahman to our team. Both Maria and Jordan are joining us after graduating from Ryerson in April with Bachelor of Commerce degrees, specializing in accounting and minors in finance. Kosinevska gained work experience throughout
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Hogg, Schain & Scheck are proud to be gold level supporters of The Writers Guild of Canada Screenwriting Awards, which were held May 2, 2016 at the Telus Centre’s Koerner Hall. HSS is also sponsoring the Dora Mavor Moore Awards, presented by the Toronto Alliance for the Performing Arts. The Dora Awards will be held
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