Blogs delivered from our CPA’s & business advisors to help you maximize your growth potential.

RSW’S COVID-19 Advice Centre

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Over the few weeks, no doubt you have been inundated and overwhelmed with the announcement of support programs by both the federal and provincial governments.

Underused Housing Tax (UHT) return has been extended to April 30, 2023

Underused Housing Tax (UHT) return has been extended to April 30, 2023 The Canadian government and Canada Revenue Agency (CRA)  has extended the deadline for filing the Underused Housing Tax (UHT) return to April 30, 2024. This extension applies to the 2022 calendar...

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Recession Proof Your Business by Keeping an Eye on Cash Flow

Recession Proof Your Business by Keeping an Eye on Cash Flow

Running a business is no small feat, and the importance of effective cash flow management to sustain and grow your operations cannot be overstated. Economic uncertainties, like the possibility of a recession, can be daunting, but with the right strategies in place,...

Avoiding Common Pitfalls when Applying for SR&ED Tax Credits

Applying for SR&ED Tax Credits and knowing how to avoid the pitfalls in doing so will help you reduce the taxes you owe. Tax credits can substantially reduce the tax you pay each year, but qualifying for them can be complicated. The tax credit for Scientific...

Employee Ownership Trusts

Employee Ownership Trusts

Employee Ownership Trusts A New Option for Business Succession in Canada If you are a business owner in Canada, you may be wondering how to plan for the future of your company and your employees. You may have considered selling your business to a third party,...

Underused Housing Tax – What You Need to Know

Underused Housing Tax – What You Need to Know

What You Need to Know About The New Underused Housing Tax Update: The Canada Revenue Agency announced on March 27, 2023 that they will provide transitional administrative relief for the 2022 tax year. Even though the deadline for filing the UHT return and paying the...

Canadian Guide to Record Retention Policy Best Practices

Canadian Guide to Record Retention Policy Best Practices

Canadian Guide to Record Retention Policy Best Practices All you need to know about Canadian document retention policies and best practices according to the Canada Revenue Agency (CRA) Well, have at it — at least some of it. As you wash winter off your windows and...

Navigating the Alphabet Soup of Registered Savings Plan Options

Navigating the Alphabet Soup of Registered Savings Plan Options

Navigating the Alphabet Soup of Registered Savings Plan Options We can all agree that saving money for the future is a great idea, regardless of how you do it. Where things get murky, is when trying to decide which saving vehicle is the best option for your specific...

What Rising Interest Rates Mean for Small and Mid-Sized Businesses

What Rising Interest Rates Mean for Small and Mid-Sized Businesses

What does rising interest rates mean for small and mid-sized businesses? To rein in inflation, which is at its highest point in 40 years, the Bank of Canada recently raised its benchmark interest rate to 2.5%, a full percentage increase. This is the largest one-time...

Should You Incorporate Your Medical or Dental Practice?

Should You Incorporate Your Medical or Dental Practice?

Should You Incorporate Your Medical or Dental Practice? Running a medical or dental practice is not the same as operating most businesses. In fact, until relatively recently, regulated professionals did not have the option to incorporate and access the advantages of...

RSW Tax Insights – Intergenerational Business Transfers

RSW Tax Insights  Intergenerational Business Transfers In June 2021, Bill C-208 became law to provide an easement for intergenerational business transfers to make sure that these transitions are excluded from the anti-avoidance rule of section 84.‍1 As a backgrounder,...