The federal government’s new GST rebate for first-time home buyers, effective May 27, 2025, provides enhanced affordability for buyers and brings new considerations and opportunities for those in the construction industry. The new GST rebate applies for new builds where purchase agreements have been signed after May 26, 2025 and before January 1, 2031 and…

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Most people understand that giving a donation to a registered charity in Canada results in tax savings, but did you know there could be additional tax benefits depending on what you give? Donating shares If you or your corporation own publicly traded shares that have grown over time, once sold, a capital gain is realized…

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Welcome back to our blog series on business valuations. In each post we explore a fundamental valuation topic to help you better understand the steps we take to appraise your business. Most professionals will mention using an “EDBITDA multiplier” as a tool for determining the value of a business. Let’s break that down. EBITDA is…

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In May, the Canada Revenue Agency (CRA) transitioned to online mail as the default method of delivering most business correspondence. The CRA’s implementation will proceed as follows: • May 12, 2025 – All new businesses and program account registrations • June 16, 2025 – Existing businesses registered with My Business Account or those that have…

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For those of you who have spent any time within the walls of Pinnacle, you have probably heard us drop the “value” word. Often this is in the context of our billing practices as we apply a value-based model, rather than the tired billable hour. And other times, we are in front of a whiteboard…

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  We often get asked by our clients whether they can gift property to their children – and if so, whether there are any tax considerations. The answer is not always what people expect to hear. Transactions at Fair Market Value If capital property (for example real estate or investments) is given as a gift,…

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Introduction: In the small owner-managed business environment, the question of compensation is a recurring theme that often leaves entrepreneurs pondering the best compensation strategy. Clients frequently approach us with questions like, “How should I pay myself?” or “How should I compensate my employees?” While a conventional response might consider the tax aspects of dividends versus…

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In recent months, the Federal and British Columbia governments have introduced legislative measures to discourage short-term rentals as part of broader attempts to free up units for long-term housing. Some of these measures may impact short-term rental unit owners from multiple perspectives. Potential impacts include income tax, GST, filing requirements, and other administrative compliance. Federal…

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The COVID-19 pandemic thrust many employers into uncharted territory – requiring rapid adoption of remote working technology and development of guidelines to maintain productivity while still preserving some sort of positive work culture amongst employees. Many businesses were quite successful in this transition and their employees may now have the ability to perform 100% of…

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Whether you and your partner file as common-law is more a matter of fact than it is a choice. The CRA considers an unmarried couple who have been living together in a conjugal relationship for 12 continuous months as common-law. There are several benefits to filing as common-law that can help reduce your combined tax…

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