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The Latest at Collins Barrow Windsor

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    Should you be registered for Canadian GST/HST?

    Foreign companies, individuals and organizations who provide goods and services to customers in Canada should consider whether their business activities in Canada invoke a requirement to register for the Goods and Services Tax / Harmonized Sales Tax (GST/HST). 

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    Infographic: Government grants open new doors

    Collins Barrow Windsor LLP may be the only accounting firm in Southwestern Ontario that specializes in grants and incentives. The knowledge we share is extremely valuable to our clients, as there are currently around 200 grants and incentives available in various industries in Canada.

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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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    Taking action on passive investment rules

    If you listened closely on budget day, you could hear a sigh of relief across Canada after the federal government announced new rules on passive investment income. Largely considered a fair improvement from previous iterations of the rules, many tax practitioners welcomed the changes. However, not all were pleased. And some were far from relieved.

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    Collins Barrow Montreal promotes Constantina Gomatos to principal

    Montreal, QC – Collins Barrow Montreal is pleased to announce that Constantina Gomatos has been promoted to principal. Practicing tax since 2004, Gomatos has dealt with a diverse clientele, which includes owner-managed businesses, their shareholders, their corporations and foreign entities operating in Canada. She also works with Canadian entities operating in foreign jurisdictions in a variety of industry sectors, including manufacturing, distribution, real estate and retail. 

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    Further elimination of the small business tax deferral

    After months of speculation regarding the taxation of passive investment income earned by private corporations, the Minister of Finance tabled Budget 2018 on February 27, 2018. The budget includes a measure to further limit the small business deduction as a result of a perceived tax deferral advantage when passive investment income is earned inside private corporations.

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    U.S. Tax Reform Punishes U.S. Citizens Abroad

    From a taxation perspective, the period from July 2017 to February 2018 has been one of the most tumultuous in recent history for Canadian private company owners. For those who also have the privilege of being U.S. citizens or resident aliens, things have gotten downright ludicrous. In a rush to pass into law the most sweeping tax reform in a generation, U.S. lawmakers have stuck U.S. citizens resident in Canada with retroactive, double taxation, the elimination of much of the tax deferral previously available in their companies, a looming April 17th payment deadline and virtually no rules or regulations to guide them through the chaos.

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    Infographic: Closeup on SR&ED

    A staple of the Income Tax Act, the SR&ED program encourages people to innovate within their company, largely by improving products and processes. If you are engaged in those kinds of activities, there are government incentives in place that will reward you for your efforts.