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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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

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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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Think Twice Before Leasing That High-End Vehicle

Halifax, Canada - July 29, 2018 - Porsche 911 Carrera S at the Porsche of Halifax dealership on Kempt road in Halifax's North End.

If your business has not received a letter from the CRA reviewing your Corporation’s automobile expenses, one may be coming soon.  Hot on the heels of this summer’s Truck and SUV project, CRA has begun its vehicle expense project. What are the consequences? The goal of the vehicle expense ...

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Client Spotlight: The Accountant’s Coach

Client Spotlight - Frank Kreze

One of Sloan Partners’ valued clients is also their valued advisor and management training partner. LMI Canada is a coaching and leadership organization, focused on improving communications, productivity and goal setting. In a win-win situation, LMI Canada came to realize that their financial ...

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CRA Is Attacking Family Trusts But Significant Opportunities Remain

Financial Advisor Talking To Senior Couple At Home

Background Family Trusts are a powerful and effective financial planning and asset protection tool. Traditional reasons for creating a trust include will and succession planning, asset and legal liability protection, and asset administration. However, Trust has evolved as a tax planning and ...

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Breakfast Event (May 22nd) – Doing Business in the UK: Today and Tomorrow

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Business is better when it’s done together. You don’t have to navigate the UK alone! Despite the ongoing turmoil surrounding the lack of certainty with Brexit, Britain doesn’t seem to be putting off foreign investors. Britain is the top investment destination in the world for the first time in ...

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Ontario Budget Commentary – How Will You Be Affected?

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Contents Overview Business Income Tax Measures Personal Income Tax Measures Estate Administration Tax Other Measures Overview The Ontario Government plans to spend more than they’ll earn in revenue during 2019-2020 resulting in a deficit of $10.3 billion. There are no changes in corporate or ...

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