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THE PINNACLE PAC BLOG
American Selling Canadian Property
As a non-resident investor in Canadian real property, you are required to advise the Canada Revenue Agency (CRA) within 10 days of selling your investment. Normally, this takes the form of an application for a Clearance Certificate since the person who bought the...
We Don’t Love Tax Returns (we don’t even like them)
Funny?…but we don’t love tax returns (we don’t even like them) Accountant = tax return. Right? Wrong. We don’t love tax returns. I’m talking about the personal returns. The ones due at the end of April. With endless slips and receipts and schedules and forms and...
Pinnacle PAC is Hiring!
We're looking for an Accounting Technician. We are a results oriented firm with a focus on fun, freedom, and flexibility. We believe people should live great lives. We are leading the transformation of our industry; the transformation of the practice of accounting -...
New Family Income Splitting Initiative
When the PMO announced the new family income splitting initiative there was a lot of excitement among families. You’ve probably heard a fair share of criticism as well (which is to be expected when there’s politics involved). But what’s really going on with the family...
Can I Have My Annual General Meeting in Hawaii??
I have a client who for years has held the Annual General Meeting for her corporation on Maui. She and her husband are the sole directors of the corporation (although I’m not sure her husband even knows where the office is, but that’s another matter). Every year she...
Some Perks of Small Town Living
When I was in highschool in my sleepy, sole-industry, freezing cold, tiny little town in North Eastern Ontario, I couldn’t wait to graduate and move to a city. I was no longer stimulated by knowing so much about the people who surrounded me and seeing the same street...
Personal versus Corporate Ownership of Rental Properties
We are often asked by clients whether they should own rental properties personally or own them through a corporation. Our advice is usually to own properties personally when rental income is nominal and when there are only a small number of properties. The advice...
Hockey Is Back
Hockey is back! Don’t you just love it? Almost at the quarter pole for the 2014-2015 season and we have seen plenty of surprises already. As an avid Canucks fan the biggest surprise of the year has been the performance of the team. Currently sitting one point out of...
Going Paperless in 3 Easy Steps
I thought we were going paperless. So why were we still using so much paper? Almost 10 years ago our office implemented “paperless” files. The decision arose partly out of a concern for the environment but mostly from the realization that we were spending a lot of...
If You are Anything Like Me (Insights on the New CRA App)
If you are anything like me, you need a reminder if you are going to get anything done on time. Fortunately for me, there aren’t any consequences to missing my hair cut appointment – save for looking like a bit of a hippy. Dealing with CRA is a different ball game. ...
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