RLB Blog

Living in a post-pandemic world, many organizations have evaluated whether their current accounting software truly meets their needs. It may be time to consider the costs and benefits of using cloud-based accounting software for your Not-for-Profit Organization.

At RLB, we want to provide our clients with the tools required to assist with preparing for an efficient year end engagement and to ensure that your organization is sufficiently prepared. The additional effort to be more prepared will save time and money, allow you to have more organized records (both at year end and through the year) and ensure your annual deadlines are met.

This article was originally written for and published in the GVCA Journal (Jan-Feb 2023 - Issue 1).

 GST/HST on Assignment of New Housing Agreements

A compilation engagement (previously referred to as a notice to reader) will be going through some changes this year. This is the first time in over 30 years that the Auditing and Assurance Standards Board has issued a new standard. For those who manage a business and engage a practitioner to compile your financial information, these changes should be taken note of.

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?

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.

Many companies rely on financial leverage such as loans, mortgages, and credit facilities to sustain and grow their businesses. Current economic conditions may place higher reliance on financing for the operational success and continuance of your company. Once you have acquired financing from a bank, a private lender, or another financial institution, it is essential to plan for what comes next. The following tips will help you get the most out of your financial leverage.

On Monday, April 19, 2021, Minister of Finance Chrystia Freeland released the 2021 Canadian federal budget. This is very likely the last budget before the next federal election. The minority Liberal government proposed measures encouraging support from other parties and included something for almost every potential voter.

Ever had a threatening phone message supposedly left by the CRA? Read news stories about an unsuspecting senior bulk-purchasing iTunes gift cards to avoid more severe penalties? The truth is new ways to scam Canadians pop up daily. Robot voicemails and requests for gift cards are still happening in our communities – but there are many more scams running that you might not know. Beware of fraud! Do you know how to protect yourself and your loved ones from some of the less obvious scam attempts?