Professionalism and personalized service are hallmarks of our Peterborough and Lindsay offices. We provide audit, accounting, tax, estate, succession and financial planning, business valuation, litigation support, forensic accounting, business advisory, HR and IT advice to a diverse group of clients in the agriculture, construction, wholesale and retail, professional services and not-for-profit sectors.
Even though Canada does not have an inheritance tax, a significant and unexpected tax liability can be left behind by a farmer at death without proper planning and preparation.
Collingwood, Meaford, Owen Sound, Walkerton, Toronto, ON – Founded in 1950, Gaviller & Company, a regional chartered professional accounting firm serving the Collingwood, Meaford, Owen Sound and Walkerton, Ontario, areas, has joined Collins Barrow. Now operating as Collins Barrow SGB, the firm is part of an expanding network of 26 independent member firms across Canada.
The Latest at Collins Barrow Peterborough
Courtice, ON — “When it’s safe to say that six out of 10 small business owners will be exiting their businesses over the next 10 years,” notes Partner Peter Hobb, CPA, CA, CFP, of Collins Barrow Durham LLP, “it’s essential they start educating themselves about just who needs to be involved in the process and, most important, ensuring they have a backup plan.”
Despite the objections of The Canadian Bar Association (CBA), the Chartered Professional Accountants of Canada (CPAC) and the Society of Trust and Estate Practitioners (STEP), the 2014 Federal Budget introduced legislation to eliminate the graduated rate of taxation for testamentary trusts.
Victoria, B.C – Norgaard Neale Camden Ltd., one of the largest locally owned and operated accounting firms in Victoria, B.C., has joined Collins Barrow. Now operating as Collins Barrow Victoria Ltd., the firm is part of an expanding network of 25 independent member firms across Canada.
Sudbury, ON — Demystifying government grants and funding mechanisms, understanding the funding cycle, eligibility criteria and application process were subjects of a breakfast seminar presented yesterday by Collins Barrow’s Sudbury-Nipissing office.
U.S. persons looking to catch up on required U.S. income tax filings may now be able to take advantage of an updated set of “taxpayer friendly” rules introduced in June 2014: the Streamlined Filing Compliance Procedures (Streamlined Program), and the Offshore Voluntary Disclosure Program (OVDP). These programs are integral parts of the ongoing Internal Revenue Service initiative to encourage U.S. taxpayers, particularly those located outside the U.S., to become compliant.
Chatham, ON – The Managing Partner of our Chatham-Kent office, Collins Barrow’s Bill Loucks, CPA, CA, CFP, has been appointed to the board of Highbank Resources Ltd. (TSX.V:HBK) of British Columbia, an aggregate exploration and development company. In addition to overseeing Chatham consulting services, Mr. Loucks brings more than 20 years of experience to the role as a former long-serving director of Collins Barrow’s National Board and of Chatham-Kent Hydro Inc
A life interest in real estate provides an exclusive right to use a property during the lifetime of the holder of the interest. Often, an individual will incorporate a life interest on a transfer of a property by way of gift to a relative in order to ensure that the individual has use of the property during their lifetime, to know for certain who will own the property when they die, and to avoid probate fees upon death.
Collins Barrow once again took part in Canada's Outdoor Farm Show on September 9-11, 2014 where we challenged the visitors to our booth to guess the number of soybeans in the jar. The correct answer was 17,539.
Effective October 18, 2014, the Director of Corporations Canada has the legal authority to dissolve any corporation initially incorporated under the then Canada Corporations Act for failure to transition to the Canada Not-for-profit Corporations Act (NFP Act). The good news is that corporations that have not transitioned as of October 17, 2014 will not automatically be dissolved as of that date. Rather, steps will need to be taken by Corporations Canada that are intended to ultimately lead to dissolution.
A government-sponsored program, the Registered Disability Savings Plan (RDSP) assists eligible Canadians in building long-term savings. Contributions to an RDSP qualify for matching government grants and bonds. With an RDSP, beneficiaries can realize a return on investment of up to 300 per cent.