RLB Blog

The construction industry is starting to see an increase in ownership changes as owners decide to retire and pass on their legacy to the next generation, a key employee or a third party. The sale of a business sets up the seller’s retirement plans while the purchaser can move from a skilled construction worker to an owner building his/her own legacy. As such, understanding the benefits and drawbacks of different purchase and sale options is vital.The actual structure of the company being purchased will vary the overall results, therefore obtaining advice from your trusted advisors early in the process will be important.

In recent years, the topic of mental health and psychological well-being went from being a taboo subject to a point of focus for many individuals and organizations. Those living daily with mental health struggles were suddenly unburdened of their shame and guilt and invited to speak openly about the challenges they face day-to-day. As more and more people stepped forward to share their own experiences, the question was no longer “how do we normalize this?” but more so “how can we help?” The focus shifted from awareness of the situation to support and education.

Guelph, ON | April 16, 2020 – RLB Chartered Professional Accountants (RLB), accounting and advisory firm in South-Western Ontario, announced today that they won the Best of Accounting Award for providing superior service to their clients. ClearlyRated's Best of Accounting® Award winners have proven to be industry leaders in service quality, based entirely on ratings provided by their clients. RLB received satisfaction scores of 9 or 10 out of 10 from 77.4% of their clients, significantly higher than the industry average of 45% in 2019.

Human Resources can be a tricky subject, so we’ve compiled a short list to help navigate HR in your business.

No matter how big or how small your construction company is, cash is the lifeblood of your business. There are several options for procuring funding to get started, enhance growth and invest in your company’s future. Each option has its own advantages and disadvantages so be sure to compare the different financing alternatives available to you before signing on the dotted line.

The latest round of changes to the Construction Lien Act that took effect on October 1st, 2019 making prompt payment the hot topic in the industry. As you begin working on projects that fall under the prompt payment rules, there is more to consider than just the wording of your contracts. Your staff also need to be prepared for the changes coming to their roles and processes.

CRA is implementing new digital services that will be launched to the public in June of 2019, which will allow charities and their representatives to submit applications and returns more efficiently. The changes being made will affect forms T2050 (Application to Register a Charity under the Income Tax Act) and T3010 (Registered Charity Information Return).

You’ve done it. After years of hard work, saving and making smart investments, you can finally afford to purchase your first home. Now what?

The basic activity of a condominium, collecting monthly common element fees, qualifies it as a not-for-profit organization. A corporate tax return is filed annually but no taxes are assessed. In addition, the corporation may have to file a Non-Profit Organization (NPO) Information Return. This return must be filed if combined interest and rental income exceed $10,000 in the current fiscal year, if the corporation owned assets valued at more than $200,000 at the end of the previous fiscal year or if the corporation has ever filed an NPO Information Return in the past. It is important to file this return within six months of the fiscal year end to avoid penalties. This return does not assess tax but can impose penalties, if filed late, of $25 per day up to a maximum of $2,500.