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    Collins Barrow Kawarthas LLP

    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.

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    Infographic: The pros and cons of incorporation

    If you are a doctor or dentist who is considering incorporating, it is important to know when it’s appropriate to take this step. Could income-splitting, the tax deferral and the capital gains exemption have a positive effect on your savings? Not everyone is in a position to benefit from these opportunities, but if the examples outlined in this infographic apply to your practice, incorporating could be right for you.

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    Employee stock options: do we have an agreement?

    In the fall of 2015, the Liberal government threatened to end the preferential tax treatment for certain employee stock options. But after much opposition, Finance Minister Morneau eventually backed off. In 2016, the Canada Revenue Agency issued comments on those rules, following up on the Tax Court’s decision in Transalta v. The Queen (2012 TCC 86).     

The Latest at Collins Barrow Peterborough

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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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    CB Toronto supports historic global flight

    Toronto, ON – Collins Barrow Toronto is pleased to announce their support of the C150 Global Odyssey (C150GO). With a passion for aviation, adventure and their home country, Canadian father-son team Bob and Steven Dengler set out with C150GO on Canada’s first around-the-world helicopter flight. As an added distinction, they are also the first-ever father-son global circumnavigation team. The Canadian crew will fly a Canadian-made Bell 429 Global Ranger helicopter over 37,000 km in just over one month. Starting in Ottawa on July 1, 2017 and zigzagging the globe, the crew will visit more than 100 airports in 14 countries as they travel the world.

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    Splitting up a farm corporation

    The time may come for operators of a farm corporation to split up as a corporate entity. Family members who have farmed together may desire independence, or they may want to segregate aspects of their operations into multiple separate corporations. Siblings who have farmed together for years may decide to go their separate ways as either part of succession planning for their children or simply a desire to farm on a stand-alone basis. A portion of the operations may also be spun out of the corporation in order to maintain the corporation’s status as a “family farm corporation.” While operations such as a grain elevator or a custom spraying machine may be related to farming, if these assets are not used principally in a farming business they could put the farm offside of the definition of a share of the capital stock of a family farm corporation. 

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    A little free advice: encourage your auditor to speak freely

    Having led over 1,000 audits of almost every shape and size, I often find myself in possession of extremely confidential and sensitive client financial information. This position of privilege occasionally provides me with a glimpse into a cross-section of some of the most successful (and sometimes unsuccessful) businesses in Canada each and every year. It is from this vantage point that I am offering a little free advice from a simple auditor to any client or potential client.