Our Blog
GST/HST election for closely related persons: Important changes for 2015
The GST/HST joint election available to closely related persons (the "156 Election") under section 156 of the federal Excise Tax Act (the "ETA") saw significant amendments after the last federal budget was tabled last February. Generally speaking, a Related Party...
Ontario Provincial Budget Commentary – May 1, 2014
On May 1, 2014, Ontario Finance Minister Charles Sousa tabled his second Budget. The deficit for the 2013-14 fiscal year is projected to be $11.3 billion, which is $400 million less than the amount estimated when the 2013 Budget was tabled. The deficit for the 2014-15...
Lipton Emergency Action Plan Correspondance – Terminal Server & Mobile Email Down – Please Read
We are currently experiencing issues with our Terminal Server and Mobile Email Support. As of right now, we are unable to receive and send emails via our mobile devices, however the email in the office is working fine. We are still recieiving in the office and we can...
Let’s Talk – Winter 2014 Edition
A Message from the Managing Partners Managing Partners Fred Arshoff and Jeff Nightingale discuss what Lipton LLP is striving to achieve in the months and years ahead. Rule Changes with Respect to Foreign Income Reporting The Canadian government has made it a priority...
2014 Federal Budget Commentary
The Federal Government presented its 2014 Budget, "The Road to Balance: Creating Jobs and Opportunities," on Tuesday, February 11. The Budget includes in its 419 pages approximately $280 billion in spending over the next several years. The Government won't raise...
Getting Ready for 2014
With the exception of RRSP contributions (in most cases) and pension income splitting, any tax planning strategies intended to reduce one’s tax payable for 2013 must be implemented by the end of the calendar year. While 2013 tax returns don’t have to be filed for at...
How to Choose an Executor
Choosing an executor -- the person or institution you put in charge of administering your estate and carrying out your final wishes -- is one of the most important decisions you'll make when preparing a will. Picking the right executor can help ensure the prompt,...
Consider Taking Advantage of Income-Splitting Loans by September 30, 2013
For those of you considering taking advantage of income splitting loans with family members, it is expected that the CRA will raise the current perscribed interest rate of one percent (1%) to two percent (2%) on October 1, 2013. As a result, now is an ideal time to...
Non-taxable benefits can help retain excellent employees
Good employees are difficult to find, so it may be worthwhile to offer benefits that will encourage them to stay. Many owner-managers would like to provide their employees with additional benefits but may be reluctant to do so because Canada Revenue Agency (CRA)...
Mel Leiderman Receives ICAO’s Highest Designation Level – FCPA, FCA
Lipton LLP Chartered Accountants is proud to announce that the Institute of Chartered Accountants of Ontario (ICAO) has granted the prestigious designation of Fellowship to Mel Leiderman. Fellowship, the highest designation that the Institute confers, recognizes...
CRA Announces Change to Reporting Foreign Income on Form T1135
Recently, the CRA released the revised Foreign Income Verification Form T1135 as announced in the 2013 Federal Budget. Effective immediately, taxpayers are required to use this new form. Taxpayers must now provide additional information, including: The name of the...
Congratulation to our recently promoted staff
Lipton LLP announces our latest promotions The Partners of Lipton LLP Chartered Accountants are pleased to announce the following promotions effective July 1, 2013: Bryan Walderman, BA, MCSE, has been promoted to Manager of IT Services. Bryan has been...
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