The 2024 Canadian Federal Budget
On April 16th, 2024, the federal government released its budget for the upcoming year, with various aims to enhance social welfare. This budget also introduced tax legislation chan
K&P CPAs enhances its advisory and tax planning through Ask Blue J, Generative AI for Tax
K&P CPAs, a boutique licensed public accounting and valuations firm based in Toronto, Canada, is pleased to announce its adoption of Ask Blue J, generative AI for tax research.
Wealth transfer
Introduction Canada is currently experiencing a significant demographic shift that is reshaping the landscape of wealth distribution: the inter-generational transfer of assets. As
Valuing a Business
Introduction Clients often approach us inquiring about what a business valuation entails. Their interest stems from many situations that include: (i) a lender has asked for a valua
Limitations of Rule Of Thumb Approaches in Business Valuation
Introduction In the realm of business valuation, professionals often encounter a term known as the “rule of thumb.” Business owners often benchmark their business
CEBA repayment deadline approaching — January 18, 2024
Businesses must repay their CEBA loan by January 18, 2024, to be eligible for the forgivable portion of the loan. This is less than one week away – contact your financial institu
Canada’s New Reporting Requirements for Trusts
Certain trusts, including bare trusts, that were previously not required to file a trust return, will be required to do so under new reporting rules. Trusts obligated to file, will
Canada’s New Reporting Requirements for Bare Trusts
Bare trusts will be required to file a T3 Return, and report beneficial ownership information on Schedule 15. The new trust reporting rules apply for tax years ending after Decembe
Guide to the Ontario Business Registry
On October 19th, 2021, the Government of Ontario launched the Ontario Business Registry online service to provide businesses and not-for-profit corporations a 24/7 platform to use
Underused Housing Tax – Deadline Extension
The Minister of National Revenue has extended the deadline until April 30, 2024, for owners affected by the Underused Housing Tax (UHT) to submit their returns for the 2022 calenda