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Ontario Budget Commentary, February 25, 2016 If you have any questions regarding the Ontario Budget or its impact on you or your business, please contact us. We hope you find our Commentary informative. Introduction On February 25, 2016 Finance Minister Charles Sousa tabled his fourth Budget. The deficit for the 2015-16 fiscal year is projected
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As the wave of baby boomers start to retire and have more free time, one’s thoughts might be spent more on travelling than ever before. Whether it’s a Mediterranean cruise, scuba diving in the Caribbean or just exploring our neighbours to the south, one desire for many Canadians is to escape our winter’s bitter cold.
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Understanding Capital Asset Accounting for Manufacturers Capital assets are the tangible items such as buildings, equipment, and property used by a business to manufacture, supply, or rent items to others. In manufacturing, these can include machines, tools, warehouses, trucks, computers, and more. It is critical that business owners understand why capital asset management is important
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Many employers are aware of some of the more prominent grants and investment tax credits (“ITCs”) available in Canada, such as the Scientific Research and Experimental Develop Tax Credit and the Federal Apprenticeship Job Creation Tax Credit. However, this is just scratching the surface of the lucrative grants and ITCs that may be available to
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Hogg, Shain & Scheck welcomes new employees in 2016! We’re pleased to announce that our team is growing. We’d like to welcome our new hires Philip Varmuza, Taylor Davis and Alex Briganti to the Hogg, Shain & Scheck team! We’d like to welcome Taylor Davis to Hogg, Shain & Scheck as of March 16, 2016.
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Business owners in Ontario often find themselves having to make choices with important financial consequences for their companies. A poorly thought out decision could lock a company into an unfavourable agreement or contract for a very long time. On the other hand, a good decision could provide a firm with a long-term strategic advantage, which
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When top business executives are asked to recall an experience when they and their management team were performing at their best, their answers often include the same themes: At the top of their game, the team worked intensely to achieve a shared, deeply meaningful business objective. The executives often speak of enjoying open communication with
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The topic of accounting for leases is a wide and potentially complicated field. One of the reasons is the fact that no two leases are alike. Each lease is the product of negotiation between the lessor, who generally owns the property, and the lessee, who is generally looking to rent the property. Therefore, each lease
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On December 7, 2015 the Federal government announced numerous personal and corporate tax changes which become effective January 1, 2016. They include: The Federal personal tax rate for taxable income between $45,282 and $90,563 will be reduced from 22% to 20.5%; The top Federal personal tax rate of 29% will apply to taxable income
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Restricted Input Tax Credits The recaptured input tax credit (RITC) rules were introduced with the Ontario and British Columbia Harmonized Sales Tax (HST) on July 1, 2010. Canada Revenue Agency (CRA) has started to audit businesses’ compliance with these rules. As noted in a previous memorandum, large business and certain financial institutions are required to
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Litigation is a complex and nerve-wracking experience, and unless you have expert guidance on your side, your case can be under-researched and underrepresented. The result: financial loss and potential legal implications that can have a significant impact on your life now and in the future. Your accountant can provide critical support throughout the litigation process
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Plan your meeting by setting the rules and desired outcome Start on time and finish on time Identify the meetings main purpose and plan your agenda accordingly Always start with a review of the big wins or success stories – this puts everyone in positive frame of mind Most sales meeting main purpose and plan
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