New mortgage rules bring challenges for first-time home buying entrepreneurs

When the Office of the Superintendent of Financial Institutions’ (OSFI) implemented new rules earlier this year designed largely to cool the red-hot housing markets in Toronto and Vancouver, many economists lauded the move. Indeed, housing affordability has emerged as a major issue in Canada in recent years, particularly in our largest cities. Many homes that […]

How budgeting pitfalls can derail a start-up’s success

The early days of any new business are the most exciting. That’s when entrepreneurial hope springs eternal, when innovation and ideation are most important and when unbounded growth seems just a few sales away. It’s a fun—if somewhat terrifying—time. Many business owners will develop detailed business plans as they launch a new company, often with […]

KRP welcomes new partner Adriano Romeo

The Kestenberg Rabinowicz Partners LLP management team is growing once again. We’re proud to announce that Adriano Romeo, a KRP senior manager since 2011, has been promoted to partner. Adriano has more than a decade of experience working with the owners of small- and medium-sized businesses across sectors including construction, real estate, manufacturing, franchising and […]

Auditor General’s report on CRA call centre issues should come as no surprise

If you’ve had reason to phone the Canada Revenue Agency of late, you may have experienced a long wait to speak to an agent—if anyone bothered to take your call. The anecdotal experiences of our accountants and clients has been confirmed in a new Auditor General’s report that sheds light on communication shortcomings at the […]

An ongoing business debate: Should I buy or lease my vehicle?

In more than 30 years of practice as a Chartered Accountant, one of the most common two questions I’ve been asked by clients is whether they should buy or lease a car, and whether they should buy personally or under their company name. Inevitably my answer has been, “It all depends.”  How long do you […]

Webinar–Canadian federal tax reform: How will it affect your business

When the Department of Finance released its proposed changes to the taxation of private corporations in Canada on July 18, 2017, entrepreneurs across the country immediately took issue with measures they felt would cause undue financial harm to their businesses. And for good reason. If passed, these proposals will have extensive implications for all private […]

Ontario offers small business owners a tax cut in fall economic statement

Small business owners in Ontario are getting a break on their taxes. This week Minister of Finance Charles Sousa delivered a fall economic statement that will lower the corporate small business income tax rate on the first $500,000 of business income to 3.5 per cent from 4.5 per cent, by January 1, 2018. The change […]

Want a loan for your business? Here’s the information you’ll need

Whether you operate a brand-new start-up or a business that’s been in existence for many years, if you need financing, banks and other financial institutions will require some standard information before cutting you a cheque. All too often, entrepreneurs are caught off guard when asked to provide this documentation. The type of credit you need–such […]

CRA proposes major changes to Voluntary Disclosure Program

A new Canada Revenue Agency (CRA) directive is about to make it much harder for entrepreneurs to correct legitimate tax errors without significant repercussions. The CRA recently proposed changes to the Voluntary Disclosure Program (VDP), an initiative that allows taxpayers to correct mistakes or oversights on their Canadian tax returns, or make new submissions, for […]

KRP founding partner Ralph Rabinowicz announces his retirement

One of our founding partners, friends and mentors, is taking a final bow after a long and illustrious accounting and management career. Ralph Rabinowicz–who co-founded Kestenberg · Rabinowicz · Partners LLP in 1973 with the aim of providing comprehensive and effective accounting and strategic financial advice tailored to the needs of some of the Greater […]