Cannabis: An industry growing in every sense

Background The Carbon Levy came into effect January 1st, 2017 and will be charged on all fuels that emit greenhouse gas emissions at a rate of $20/tonne in 2017 and $30/tonne in 2018. Fuels include diesel, gasoline, natural gas and propane. The amount of Carbon Levy applied to each fuel is based on the amount […]

“We are only tenants, and shortly the great Landlord will give us notice that lease has expired” – Joseph Jefferson. Overview The IASB published IFRS 16 Leases in January 2016 with an effective date of January 1, 2019. The new standard will replace existing IAS 17 rule and will require lessees to

When calculating your taxes, it is important to understand your deductible expenses and eligible tax credits that you can claim. Deductible expenses are subtracted from your income before it can be subjected to taxation. Understanding these expenses will help you go a long way in reducing tax liabilities. Tax credits, on the other hand, are […]

“Action is the foundational key to all success.” — Pablo Picasso According to the study done by the Royal Bank of Canada, one in four business owners who are at the age of 50 of small and medium-sized business want to sell their business within the next five years. Unfortunately, 77 percent of owners do not […]

Are you sure of using all the tax deductions you are eligible for? Are you filing and paying your taxes on time and avoiding penalties and interest? We can help you optimizing your taxes and saving money.

Every organization is formed on some overarching goal & objective, such as building a profitable business by satisfying a need or a not-for-profit organization dedicated toward a charitable focus that guides its actions.

Preparing your annual tax returns is always considered a tedious task, however knowing the changes is very crucial and allows you to be proactive for the upcoming year.

“…but in this world nothing can be said to be certain, except death and taxes.” Ben Franklin 2015 Personal Tax return You are not necessarily need to be an expertise on taxation but knowing key areas will be always beneficial to have educated discussion with your tax consultant. Following are the key updates that happened […]

“Life is a series of natural and spontaneous changes. Don’t resist them – that only creates sorrow. Let reality be reality. Let things flow naturally forward in whatever way they like.” Lao Tzu IFRS 9, Financial Instruments The final version of IFRS 9, Financial Instruments, was issued by the International Accounting Standards Board (IASB) in […]

Without music to decorate it, time is just a bunch of boring production deadlines or dates by which bills must be paid. – Frank Zappa

The draft rules announced by the Department of Finance on December 13, 2017, now extend the TOSI rules to certain family members over the age of 17.

While the press mainly focused on spending cuts, we listed here changes that will have more impact on finance side of our clients.

IFRS 15, Revenue from Contracts with Customers was issued in May 2014 and replaces IAS 11 Construction Contracts, IAS 18 Revenue and various interpretations. IFRS 15 establishes a single model of accounting for revenue arising from contracts with customers. IFRS 15 requires entities to recognize revenue reflecting the transfer of goods or services to customers […]

Every internal audit function has its own internal audit framework which is Internal Audit Charter (the “Charter”). The Charter outlines the organizational status and role of the internal audit function, independence and governance, etc. However the Charter usually provides high level guidance, and therefore, it is also essential to have a robust Internal Audit Manual […]

When you’re getting ready your tax returns, you want to make sure you prepare your tax returns in such a way that the Canadian Revenue Agency (CRA) doesn’t approach you for a tax audit.