Serving on the board of a non-profit or charity comes with legal and fiduciary responsibilities, including oversight of the organization’s finances. Many board members take this responsibility seriously while also feeling unsure about how to interpret the financial information presented to them. That uncertainty is common. Most boards are made up of volunteers with diverse professional backgrounds, and few members have formal accounting training. Financial oversight does not

What You Need to Register, Charge, and Remit For many small business owners in British Columbia, GST is one of those topics that feels manageable until it suddenly is not. We often see businesses focus on growth, sales, and day to day operations, only to discover later that GST has quietly become an issue in the background. Most GST problems are not the result of intentional non compliance. They usually stem from misunderstandings around when registration is required, what sh

Change in Use Scenarios Short-Term to Long-Term Rental or Personal Use  If you convert a short-term rental property (e.g., Airbnb) to a long-term rental or personal use, GST implications may arise. GST may be payable on the property's fair market value (FMV) at the time of conversion. Additionally, from a tax perspective, this change constitutes a deemed disposition, requiring you to report any capital gains. Income-Producing to Personal Use  When changing a rental property t

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