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Immediate Expensing Deadline: December 31, 2023

The 2021 Federal Budget brought in rules that allowed individuals, partnerships, or private corporations to entirely write off asset additions (some types of assets, such as buildings, were excluded) in the year of acquisition, unlike in previous … [Read more...]

The Short-Term Rental Accommodation Act: Targeting Airbnb, VRBO etc.

The B.C. government introduced the Short-Term Rental Accommodation Act on October 16, 2023, in response to the housing crisis of long-term rentals. It aims at the estimated 16,000 homes in B.C. that are used exclusively as short-term rentals … [Read more...]

Reminder to File Your Underused Housing Tax (“UHT”) Forms by October 31, 2023

As we initially reported in our March 14, 2023 newsletter the government requires Canadians to file UHT returns for residential property held inside a private corporation, partnership or via a trust (including a bare trust). For the 2022 taxation … [Read more...]

GAAR Changes to End Surplus Stripping?

The 2023 Federal Budget released draft legislation amending the General Anti-Avoidance Rules (“GAAR”) that would significantly impact any transactions the government finds abusive. After an initial consultation period, updated draft legislation was … [Read more...]

The Federal Budget 2023 in a Nutshell

The 2023 federal budget was released with great anticipation for some possible harsh tax measures to counteract previous government over spending. However, with a projected federal deficit of over $40 billion it seems the government is keen to double … [Read more...]

The Tax Season is Here!

In order to get a head start on tax filing, below is a list of information that may be required to complete your 2022 personal income tax returns: T4 Employment Income slips T4A Other Income slips T4A BCMA slip T4A(P) Canada Pension slip … [Read more...]

Measuring practice performance

Imagine for a moment you are driving a car with no GPS to direct you, no instruments to tell you the speed and no fuel gauge or indicator light warning you the engine is running out of oil. It is unthinkable; you would never get into a car without an … [Read more...]

Are your investments down? Good time for an estate freeze!

What is an estate freeze? An estate freeze refers to transferring the future growth of your corporate investments into your children's hands. An estate freeze limits the value of your estate reflected in your corporate holdings when the freeze is … [Read more...]

File Your Underused Housing Tax Form Before April 30 To Avoid $10,000 Penalty!

The Federal Government has finally jumped on the band wagon of requiring certain property owners to declare the use of their property. Some may be familiar with the Empty Homes Tax (city of Vancouver) or the Speculation Tax (province of BC). Now it’s … [Read more...]

Buying a practice: Due Diligence Audit

Financial Review Ask your CPA (choose one with experience in dental practices) to obtain copies of the tax returns and financial statements for the clinic’s previous four years. Use these to identify revenue and expense trends. Ask your CPA … [Read more...]

Our New Dentist Program is designed to help new dentists start their career with a solid financial foundation.

What sets us apart from other dental CPA firms is our years of experience working closely with dentists. We offer an unmatched skill set that goes way beyond routine accounting and tax planning. From Practice purchase or Start up assistance and loan financing to practice management and financial/retirement planning, we will help you manage every aspect of the financial side of your dental career.

Call at 604-669-7558 or email us at info[at]purtzki.com to request a free consultation.
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