The Latest at Collins Barrow Sturgeon Falls

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    Transferring farm property from partnerships to individuals

    Inter-generational farm transfers are common as succession plans. When parents transfer farms to their kids, they have rights that other business owners do not have. For example, if a farm or fishing property meets the criteria for a favourable intergenerational transfer, they can transfer at less than fair market value. However, many farming operations function as unincorporated partnerships, which can lead to complications. Typically, this is a mom and dad type scenario, where both parties are individuals farming multiple pieces of land, and they want to transfer one piece to the next generation.

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    Environmental Stewardship

    Collins Barrow is focused on reducing its carbon footprint.  Accounting can be a “paper pushing” environment to work in, however being environmentally focused is not only good for our environment, but is good for our staff, our clients, and our neighbors on this earth.

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    Updated Voluntary Disclosures Program

    Audits and assessments undertaken by the Canada Revenue Agency (CRA) that uncover errors or omissions by a taxpayer can lead to significant penalties. These penalties can range from a percentage of unpaid taxes to fixed monthly penalties, up to $2,500 per incident, in the case of late-filed information forms. In severe cases, criminal charges and jail time could result.

    Collins Barrow

    The tax implications of cryptocurrency

    Although cryptocurrencies have existed since Bitcoin emerged in 2009, this medium of exchange has experienced a massive surge in popularity in recent months. Offering a wide range of opportunities (and risks), cryptocurrencies have inspired a great deal of confusion due to their unique properties.

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    Collins Barrow SNT continues Secondary School Bursary Program

    SUDBURY, ON – Collins Barrow SNT LLP (CBSNT) is proud to announce the continuation of its Secondary School Bursary Program, an initiative to support students interested in pursuing post-secondary education in accounting. As part of the continuation, the firm has pledged 11 additional $500 bursaries for students in the surrounding area.

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    Modern leadership qualities you need to succeed

    There’s a war for talent all over the world. Baby Boomers are rapidly retiring, and we have a severe labour shortage in Canada. As a result, the new generation of younger employees is becoming more and more empowered. They can decide where they work, when they work, how long they work, what they wear to work and how much you pay them to work.

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    Preventing labour code changes from killing your business

    It is clear to business leaders, either motivated by profit or not, that government and its legislation will continue to make it increasingly challenging to run a profitable or financially viable not-for-profit venture. These legislative changes, most recently dealing with taxation and labour, will negatively impact the bottom line.