Do I Need a GST/HST Number?

The human hand fills the last missing elements of the surface from the jigsaw puzzle. Image with words business and tax

If you’re thinking of starting your own small business, you may have heard that the first thing you need to do is register for a GST or HST number. Registering is the easy part, but what exactly is a GST/HST number and when do you actually need to get one? What is a GST/HST number?...

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Halloween Celebrations at Sloan Group

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Sloan Group celebrated Halloween by hosting a costume contest where everyone voted for their favourite costume. Employees had a freaky fun time with creative costumes and the party ended with a festival-themed lunch. Check out all the best moments from the fun afternoon.      

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Do you have a real financial plan?

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You have an accountant who diligently prepares your tax returns, and if you have a business, your financial statements, a financial advisor who recommends appropriate investments, and a lawyer who prepared a Will and advise on estate planning matters. But chances are they don’t know if the ...

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Converting dividends to capital gains – Perhaps the last available significant opportunity

DIVIDENDS CONCEPT

So what’s left? That the question that business owners and their accountants have been asking themselves following the implementation of aggressive new tax measures including the end of income sprinkling with family members (TOSI), the end to the multiplication of the small business deduction ...

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Is Cryptocurrency Subject to GST/HST? – The Answer is Unfolding as We Speak

Gdansk, Poland - May 22, 2019: Physical Bitcoin, Litecoin and Ethereum gold coins on a black stone slate plate with chain. Cryptocurrency blockchain abstract concept.

If the world of cryptocurrency appears to you as a “Wild West” it is because it is.  Fortunes are made and lost overnight.  Equally buffeted or flat-footed by the cryptocurrency events are the taxing authorities.  The Canada Revenue Agency promulgated their initial positions on cryptocurrency ...

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Is Entrepreneurship Taking its Toll?

Young co-workers team talking during startup - Happy people planning a new project in creative workplace office - Focus on right top men - Technology, entrepreneur, marketing concept

Do something you love for money, and you will never work a day in your life, or so the saying goes. For many entrepreneurs, the idea of working on something they are passionate about while maintaining full control is a tempting one. However, the grind of actually running a business can sap the ...

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Gifts-in-Kind: How to Maximize Your Tax Deduction

Charity Money Savings Jar

Can Canadian charities issue tax receipts for donations that are not monetary? The answer depends on the status of the charity and the nature of the donation. The prerequisite for any charity to issue tax receipts of any kind is that it must be recognized by the Canada Revenue Agency as a ...

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IRS & CRA are Actively Looking for Cryptocurrency Traders and Investors

New york, USA - Avgust 22, 2017: Male hand holding Bitcoin in front of cryptocurrency invest chart.

In late July the IRS sent letters to 10,000 owners of cryptocurrencies advising them of their tax obligations.  In the second week of August, the IRS sent a second round of letters to known users of certain cryptocurrency exchanges.  In some cases, the letters sent in July and August come with ...

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Canada’s Tax Gap: Up To $11B In Taxes Avoided In The Year 2014

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In a recent news release (June 2019) Canada Revenue Agency commented on something they refer to as a “tax gap”. According to CRA, the gap is the amount of unpaid income tax.  The recent report focuses on the 2014 tax year and their estimate that between $9.4 billion and $11.4 billion is owed to ...

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Don’t Underestimate the Importance of Tax Planning

Blackboard Business Strategy Concept

Taxes are a tricky business, making tax planning an essential tool for any business to plan ahead effectively. Regular tax planning can help business owners lower the amount of taxable income, reduce the tax liability, and gain more control of when taxes are paid. At Sloan Partners, we see ...

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