fbpx

RLB Blog

Categories

AirBnb 101: Renting Out a Second Property

AirBnb 101: Renting Out a Second Property
July 12, 2021

Renting out a second property We have covered renting out a portion of your home, but what do we need to know when we own a second property to rent out full time?

Continue Reading

Airbnb 101: Renting Your Home

Airbnb 101: Renting Your Home
July 12, 2021

Trying to earn a little extra on the side is common these days – everyone could use a little extra spending money.  But just because it is not your full-time job doesn’t mean you don’t have to consider the tax implications.  Today we will cover one method of earning additional money – renting out your home through organizations such as AirBnB.

Continue Reading

What is the Canada Recovery Hiring Program?

What is the Canada Recovery Hiring Program?
July 4, 2021

The 2021 Budget proposed a new program called the Canada Recovery Hiring Program to help eligible employers with the costs of re-hiring or hiring new staff as their business opens back up. Employers can only claim one subsidy per qualifying period; the Canada Recovery Hiring Program (CRHP) or the Canada Emergency Wage Subsidy (CEWS). There are many similarities between the two programs, however, there are a couple of subtle differences.

Continue Reading

Hiring Your First Employee In Ontario – What You Need to Know

Hiring Your First Employee In Ontario – What You Need to Know

Employees are essential to growing a business, but the many factors to consider can be overwhelming if you have not done it before. Here you can find a list of essential considerations with some helpful links to get you started.

Continue Reading

Donation Strings

Donation Strings
June 21, 2021

There may be times when it is best not to accept a donation. Pause here for all those who work in fundraising to catch their breath and get over the initial shock. It would be heartbreaking to turn down funds when that is what most charities and not-for-profits seek out, but when a donation comes with strings attached, it is crucial to consider the impact of those restrictions. The saying “don’t look a gift horse in the mouth” is the worst piece of advice for organizations who are offered a restricted donation. But do not lose hope. There are steps to take before having to resort to refusing a gift. So first, let us imagine the scenario. Someone comes to you with the offer of a gift of money, but they want to have a say in how it is used.

Continue Reading

COVID-19 WSIB Reimbursement

COVID-19 WSIB Reimbursement

Ontario COVID-19 Worker Income Protection Benefit Employers may now submit claims online for the Workplace Safety and Insurance Board (WSIB) reimbursement for paying their employees under the Ontario COVID-19 Worker Income Protection Benefit.

Continue Reading

GST/HST Changes Effective July 1st, 2021

GST/HST Changes Effective July 1st, 2021

GST/HST Changes Effective July 1, 2021 As many of us have been confined to our homes during the pandemic for some or all of the past year, it should come as no surprise that online shopping platforms have flourished. Canadians have enjoyed the convenience and safety of shopping from their living rooms, confirmed in the Government of Canada's Fall Economic Statement, where it was noted that retail e-commerce was up nearly 70% in the first eight months of 2020.

Continue Reading

Not-for-Profits: Reserves and Fund Balances

Not-for-Profits: Reserves and Fund Balances
June 1, 2021

In Part 1 we reviewed the 3 types of contributions and how each is recognized using both the deferral method and restricted fund method. Here we discuss the net asset treatment under both the deferral method and restricted fund method. RLB’s Not-For-Profit team presented on this topic along with Contributions at their December 2020 Coffee Talk webinar presented by Colleen Gallagher or Michelle Steele.

Continue Reading

Not-for-Profits: Contributions

Not-for-Profits: Contributions

Many Not-For-Profit and Charitable organizations struggle with understanding the difference between the deferral and restricted fund methods of recognizing contributions. RLB’s Not-For-Profit team presented on this topic at their December 2020 Coffee Talk webinar presented by Colleen Gallagher and Michelle Steele.

Continue Reading

Annual General Meeting Best Practices

Annual General Meeting Best Practices
May 31, 2021

As accountants who specialize in condominium audits, we are asked to present audited financial statements at hundreds of Annual General Meetings each year.  Before the pandemic, these AGM were typically held in person. With restrictions on gatherings, the industry was required to find a new way to have AGM meetings… the solution was virtual!  We have found these virtual meetings to be quite successful as they have resulted in higher attendance, and unit owners can attend the meeting from the comfort of their own homes.

Continue Reading