SB Partners


Each specialty has its unique needs—from particular accounting practices to rigorous reporting requirements.

You have the skills, knowledge and reputation in your specific field; SB Partners has the resources, expertise and experience in providing comprehensive advice to businesses. Like you, our focus is client service—our job is to focus on helping you achieve your financial goals, so you can focus on doing what you do best.

SB Partners has a wealth of experience servicing various professionals, and are comfortable moving in your worlds. Our team has a knowledgeable network of professionals to draw on. We offer a wealth of experience in arranging complex strategies for our clients.

Each business is different, yet each business needs the support of advisors who understand their unique situation. SB Partners will work with you to face your key challenges and take advantage of opportunities.

Harmonized Sales Tax in Ontario

On July 1, 2010 the Ontario Retail Sales Tax (RST) will be combined with the federal Goods and Service Tax (GST) to create a federally administered Harmonized sales tax (HST). The HST would have a combined rate of 13% of which 8% would be the provincial portion and 5% would be the federal portion. The HST, except for some exceptions, would generally use the same rules and tax base as the GST.

What does this mean to professional service providers

  • Professional services are currently not subject to RST in Ontario. Under the HST system any professional fees subject to GST will be subject to HST resulting in an 8% increase in the total charge for such services. This increase should not be an issue for business customers entitled to claim input tax credits for the HST but will result in an increase in costs for consumers and businesses not entitled to claim input tax credits.
  • HST will generally increase the costs of doing business for professionals providing exempt supply services, such as physicians, dentists and other health care provided services.
  • Costs currently borne by professional, including computers, furniture and equipment and promotional materials are subject to unrecoverable RST. Under the HST, professionals may be able to recover the HST paid by claiming input tax credits on their GST/HST return.
  • Systems businesses now used to comply with the GST will need to be modified to handle the HST. Modifications will include accounts receivable and billing systems and well as accounts payable.
  • Service providers should also plan and modify their systems to deal with the removal of RST from costs.
  • Service providers should review contracts with their customers to ensure they can contractually add on the provincial component of the HST to their prices.

Next Steps

Talk to our Professional Services Practice Group:

HST is here on July 1st - Be prepared with our free guide
What our Clients Say

Joanne Pellegrino, Accountant, Izumi Outdoors Inc.

"In the three years that Ive been dealing with SB Partners I have always found them to be courteous, thorough and professional. Their work on our annual statements and tax returns is exceptional and their expertise makes my job a whole lot easier."