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    Collins Barrow Victoria

    Victoria, BC – Norgaard Neale Camden Ltd., one of the largest locally owned and operated accounting firms in Victoria, BC, has joined Collins Barrow. Now operating as Collins Barrow Victoria Ltd., the firm is part of an expanding network of 25 independent member firms across Canada.
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    Collins Barrow urges delay of private company tax proposals

    Collins Barrow is urging the Canadian government to delay the enactment of measures that profoundly change the taxation of private corporations and their shareholders, as proposed in draft legislation introduced July 18, 2017. CB National and all 26 member firms unanimously recommend all measures be delayed for, at minimum, one year to accommodate more detailed analysis.

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    5 reasons why your business needs to be using analytics today

    We keep hearing in the news and in professional publications that everyone needs to use data analytics. It’s the greatest thing since sliced bread. So why should businesses consider using data analytics? The reason is simple: data analytics presents many new opportunities to improve efficiency, gain actionable information on customers and add value to financial reporting. Analytics can have many positive effects on your organization, including those highlighted below.

The Latest at Collins Barrow Victoria - Downtown

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    Selling your farmland - GST / HST implications

    With farmland values on the rise in Canada, many farmers are contemplating selling some or all of the land used in their farming businesses. Farmland sales may have GST/HST implications depending on such factors as the nature of the purchaser and the intended use of the land subsequent to sale. 

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    Issues facing Canadians selling U.S. real estate

    Canadians selling U.S. real estate face a number of challenges, most notably the difficulty in finding someone with special training on this topic. Given the high U.S. dollar, many Canadians are now looking to dispose of their U.S. property, but not many advisors have carefully researched this topic and developed the expertise necessary to help with these sales. As a result, the escrow agent, the real estate agent and the accountant you deal with may offer conflicting advice. In order to make sense of their perspectives and cope with the limited expertise available, be sure to keep the following issues in mind when selling U.S. real estate.

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    Non-resident / U.S. companies doing business in Canada

    In many cases, foreign companies doing business in Canada are in need of additional expertise to effectively navigate the Canadian tax system. Specifically, U.S. companies find themselves confronting a tax environment that is very different from their domestic system. When doing business in Canada, here are some of the key tax considerations foreign companies should be prepared to navigate.

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    Collins Barrow Toronto’s Ben Gibbons wins 40 Under 40 Award

    Toronto, ON – Collins Barrow Toronto congratulates Ben Gibbons on the recognition he recently received in CPA Practice Advisor’s 40 Under 40 Awards. This honour recognizes the most influential people under the age of 40 working in the accounting, tax and advisory profession, both for their achievements on the job and their strong community involvement.

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    Budget 2017 Update – Extended transitional period for work in process of professionals

    An earlier version of this Tax Flash was originally published on May 11, 2017. The following version has been amended to reflect important updates as of Sept. 8, 2017.

    As proposed in the March 22, 2017 budget, every professional must include year-end work-in-progress (WIP) into taxable income effective for taxation years beginning after March 21, 2017. WIP for professionals typically represents unbilled professional time and cost incurred in the rendering of services to clients. This is often captured in the form of a professional’s “charge-out” rate, which represents their cost, overhead and some profit component.

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    A quick guide to platform acquisitions

    When growing through mergers and acquisitions, there are generally two distinct types of acquisitions: (1) the platform acquisition and (2) subsequent one-off acquisitions. When a company expands into a new market, the expansion often comes in the form of a platform acquisition, the initial acquisition that a private equity group makes to enter an industry with the intent to roll up (or acquire) other companies in an industry. (One-off acquisitions consist of companies within an industry in which the buyer already operates.) The acquiring company entering the new market usually seeks a business with an already sizeable operations base, which then becomes the platform from which to launch further expansion. The term “platform acquisition” originates from the private equity sector, where platform investments are very common.