Taxation

SPH’s taxation practice covers the key taxation needs of businesses and individuals in Canada and abroad today.

Everything you do in the business world likely has tax consequences. Our team of highly trained tax specialists can guide you through the labyrinth of income tax, GST, provincial sales tax and harmonized sales tax laws.

We can help you anticipate transactions that might otherwise invite undue taxation of your personal or business assets, and help ensure that you pay the least amount of tax possible.

Our tax specialists are trained to look at the big picture. There can be many business, legal or other reasons for undertaking a particular transaction or structure that outweighs the tax consequences. Let our team work for you.

Our team is trained to provide a complete range of services including:

Corporate Tax

Accounting for income taxes has become more complex over the years from increased regulatory requirements, changing interpretations and new tax rules. There are several downsides as governments demand more and more information – errors in tax compliance including exposure to non-deductible interest and penalties and missed opportunities for deductions and credits. Regardless of the complexity, the timely filing of corporate income tax returns is a legal necessity and many companies struggle to find the resources to fulfill this obligation.

At SPH, we have a wealth of experience in corporate tax planning and compliance for small businesses and non-profit organizations. We ensure your corporation takes advantage of every possible opportunity.

Personal Tax

At SPH, we understand that sometimes your corporate and personal taxes often overlap. This often provides an opportunity for effective strategies to minimize your overall tax burden. What is the optimal amount you should invest in your RRSP from a tax standpoint? How much should your corporation pay you to maximize your RRSP contribution room and CPP contribution or to avoid a clawback of your social security benefits? These are just some of the questions our qualified advisors can answer for you.

These days filing a personal income tax return can be daunting. In a world of pension splitting, medical expenses and one-time tax credits, SPH can take care of your personal income tax return preparation and filing so you don’t have to worry about the complicated tax rules and interpretations.

Commodity Taxes

Commodity taxes include everything from HST to excise taxes on fuel, tobacco and alcohol, among others. These taxes are generally transaction based and require an in-depth understanding to ensure your systems are set up to capture all the information needed to comply with these taxes and guarantee you claim all the benefits to which you are entitled.

Contact us today to discuss your unique tax concerns.