Valuations for Income Tax Purposes – What Does the CRA think?

Tax planning and corporate restructuring have become an integral part of the services provided by professional advisers to their clients. A key component of any plan is establishing the fair market value (FMV) as the valuation represents the first step towards assessing the tax consequences of any transaction. This post looks at valuations for income […]

10 Tips for a Successful Not-for-Profit Audit

As accountants and trusted advisors for many not-for-profit organizations and charities, we share your goal of a successful audit. Here are our tips for a successful not-for-profit audit Our tips to achieve a successful not-for-profit audit: Review all lease agreements and leasehold improvements. Make sure all leases are readily available for the auditors, especially any […]

What South Dakota v. Wayfair Means for Canadian Companies

Are you a Canadian company selling goods to US customers? If so, the Wayfair decision might drastically alter your US Sales Tax Exposure. The clear implication of the Wayfair decision is that there will likely be a mass rush of states adopting new sales tax laws that will mirror the far lower threshold of “economic nexus” that has been implemented by South Dakota.

Recent Changes to the QST Registration Rules for Non-Resident Suppliers of Digital Supplies

What are the new Quebec Sales Tax (QST) Rules? On March 27, 2018, the Quebec budget introduced new Quebec Sales Tax (“QST”) rules expanding the threshold of QST registrant requirements with focus on non-resident suppliers in the e-commerce sector.  The budget addressed the lack of specific rules for online sale transactions which previously led to […]

Three Reasons You May Need a Business Valuation

What is a Business Valuation? An independent business valuation is based on a sound set of principles and approaches to estimate the worth or fair market value (FMV) of a business.  The three approaches to determine FMV are the asset approach, the income approach, and the market approach. No matter which approach or method is […]