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How Can We Help You?
Review asset mix of your non-registered portfolio. Interest income is the highest taxed of your investment income. Consider restructuring your portfolio so that interest income is earned in a registered plan (RRSP, RRIF, TFSA) where it is tax sheltered. Are you carrying debt that is not tax deductible? Consider reducing this debt with non-registered assets.
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RRSP Contributions In order to obtain a deduction on your 2016 personal income tax return, you must contribute to your RRSP on or before March 1, 2017. As always, consider contributing earlier so that your money is growing tax free as soon as possible. Spousal Contributions Contributions made to a spousal plan before December 31
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The Canada Revenue Agency (the “CRA”) has recently announced a number of significant changes in relation to the disposition of residences. Section 40(2)(b) of the Income Tax Act provides a possible exemption on the gain when the property is sold. The exemption is applicable when the test in Section 40(2)(b) is satisfied and the property
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AMENDMENT TO THE BUSINESS CORPORATIONS ACT (ONTARIO) 2016 There is a new requirement for every Ontario corporation to prepare and maintain, at its registered office, a register of its ownership interests in land in Ontario. This change is effective December 10, 2016. Currently, Part XI of the Business Corporations Act (the “Act”) requires Ontario corporations
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On November 24, 2016, Hogg, Shain & Scheck (HSS) will be attending the Ted Rogers School of Business Management & School of Accounting & Finance Awards Ceremony to present the HSS Professional Corporation Award to two deserving undergraduate recipients. The Hogg, Shain & Scheck Professional Corporation Award recognizes full-time students whose major is Accounting and
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On Tuesday, October 4, 2016, Hogg Shain & Scheck proudly presented and hosted a harvest-themed Open House to welcome all staff and clients to their new offices. It was a huge success that was filled with laughter, learning, and celebration. Attendees from prominent financial institutions and partner groups such as RBC, BDC, and TD were
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Newton’s Electric Open House From May 13-14, 2016, Newton’s Electric, an electrical and automotive company in Brampton, hosted an open house event for their customers and suppliers. As Newton’s Electric is one of our clients, we wanted to support this special open house event. To show our support, we set up a vendor booth for
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Hogg, Shain & Scheck – Special Edition Dinner Event Featuring David Shribman American politics are at a pivotal point in history. This year’s presidential race features candidates who all have unique platforms and values. No other candidate however, is as eccentric, bold and unfiltered as Donald John Trump. On June 1, Hogg, Shain & Scheck
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Hogg, Shain & Scheck is proud to announce our newest members! We’d like to welcome Maria Kosinevska, Jordan Gabriel and Asifur Rahman to our team. Both Maria and Jordan are joining us after graduating from Ryerson in April with Bachelor of Commerce degrees, specializing in accounting and minors in finance. Kosinevska gained work experience throughout
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Hogg, Schain & Scheck are proud to be gold level supporters of The Writers Guild of Canada Screenwriting Awards, which were held May 2, 2016 at the Telus Centre’s Koerner Hall. HSS is also sponsoring the Dora Mavor Moore Awards, presented by the Toronto Alliance for the Performing Arts. The Dora Awards will be held
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Theme: Economic growth, Job creation, Strong middle class When the new government said last year that it would return Canada to deficits, few expected the numbers to jump to nearly $30 billion this year and next and add $100 billion in debt over the next five years. But lower-than-expected revenues have forced the government’s hand,
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As a not-for-profit organization you have a mandate to achieve certain goals. The money that is available to your not-for-profit organization is essential for reaching the goals, and a quality bookkeeping system is essential to keep track of and manage that money. Since the funds are such an essential part of keeping your organization running, it
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