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    Welcome to Collins Barrow

    Known for our responsiveness and aggressively entrepreneurial culture, we are the eighth largest public accounting network nationally by revenue. Our over 1340 professional and support staff and more than 235 partners and principals provide a full range of audit, tax and advisory services to private and public companies through our regional offices from coast to coast.
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    2017 Federal Budget

    Budget 2017 has been released! Check out our professional tax analysis, videos and dynamic infographics here.

The Latest at Collins Barrow

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    Budget 2017: What did (and didn’t) emerge

    Another federal budget has come and gone. If you blinked you might’ve missed it! Compared to last year’s changes to the small business deduction eligibility, among others, there weren’t many significant changes from a tax perspective in Budget 2017.

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    Incorporating a proprietorship business

    When an individual operates a business without having a corporation it’s referred to as a proprietorship business. But when is the right time to incorporate?

    If there’s income in your business that you don’t need to spend personally every year, you should seriously consider incorporating. Not only will you potentially limit liability and protect personal assets, but the tax rates for a corporation are lower. You can also leave money in the corporation for many years and get tax savings that way. 

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    2017 Federal Budget Infographic

    No news is good news, as far as tax rates go, in the just-released Federal Budget. Other tax deductions and credits weren’t so lucky. Get the scoop on all the major Budget 2017 tax changes! View infographic.

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    Budget 2017: 4 areas to watch

    The Minister of Finance, Bill Morneau, announced that the government’s federal budget will be tabled on March 22, 2017. Last year’s Canadian federal budget came in with a whopping $29.4-billion deficit and notable tax changes in the area of the small business deduction eligibility, among others. There were a number of items promised by the Liberal government during its campaign that were not announced in last year’s budget.  Will the Liberal government hold true on those promises in the 2017 budget? How will those potential tax changes impact business owners and individuals? Some areas to watch are outlined below.

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    Foreign corporations operating in the United States

    *Updated March 10, 2017

    With increasing frequency, Canadian corporations are venturing across the border into the United States to perform services or sell their products. Consequently, we often field questions about the U.S. corporate income tax filing requirements for Canadian corporations generating revenue from our trading partner to the south. This article summarizes some of those requirements.

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    Collins Barrow Tax Tips

    Whether you’ve got a personal or corporate tax question – related to financial matters at home or abroad – our experts have got plenty of tips to share with you. Check back often as we’re always releasing new videos!

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    CRA may propose radical changes to the Voluntary Disclosure Program

    In April 2016, the Minister of National Revenue established the Offshore Compliance Advisory Committee (“OCAC”) for the purpose of advising the Minister and the Canada Revenue Agency (“CRA”) on administrative strategies to deal with offshore compliance. In the fall of 2016, OCAC issued a report on CRA’s Voluntary Disclosure Program, which was endorsed by the Minister of National Revenue on December 8, 2016. On February 22, 2017, the CRA released its formal response, in which it indicated that the review of the recommendations prepared by OCAC will be completed by March 31, 2017.