BCBusiness

bcbusiness.ca february 2016 BCBusiness 33 Rank most infLUEntiaL infLUEnCE LovE infLUEnCE LovE BRands sCoRE sCoRE Rank Rank 34 sun-Rype 64 130 34 10 35 Boston Pizza 64 117 35 16 36 Destination BC 64 94 36 36 37 electronic Arts 61 78 37 50 38 Happy Planet 61 71 38 58 39 Vancouver Whitecaps 57 84 39 40 40 Rocky Mountaineer 56 76 40 53 41 Mission Hill 55 91 41 37 42 Flight Centre 53 88 42 40 43 earth's Own 53 63 43 62 44 Clearly Contacts 52 74 44 55 45 Cactus Club Cafe 51 103 45 27 46 Port Metro 48 64 46 60 47 JJ Bean 47 75 47 54 48 Kokanee 46 83 48 47 49 Milestones Grill + Bar 45 98 49 50 50 earls Kitchen & Bar 43 95 50 34 51 Okanagan spring Brewery 43 86 51 52 52 Panago 43 102 52 29 53 Canadian Direct insurance 43 62 53 54 54 Blenz Coffee 42 81 54 49 55 Granville island Brewing 34 96 55 56 56 Joey Restaurants 32 82 56 48 57 Moxies Grill & Bar 31 85 57 43 58 OK Tire 31 84 58 44 59 Mr. Lube 29 77 59 52 60 WirelessWave 29 64 60 61 61 Craftsman Collision 26 74 61 56 62 Browns social House 24 72 62 63 63 Kit and Ace 22 41 63 65 64 Aritzia 22 51 64 64 65 urban Barn 22 67 65 59 to "foster a two-way dialogue between BC Hydro and Peace region residents, businesses, property owners, commu- nities and Aboriginal groups to ensure we are aware of local interests, issues and concerns." And the corporation has tried to address those concerns. It has set up a $20-million fund to com- pensate municipalities for lost tax revenues from the 31,000 square kilo- metres of prime farmland that will be ooded. Hydro has also held consulta- tions with First Nations groups—at least two of which stand to lose ancestral lands and hunting territory—that the B.C. Supreme Court, in a recent ruling, described as "extensive and conducted in good faith." For Ken Boon, who will lose part of his homestead to Site C—including a farmhouse built by his wife's grand- father—it's the intangibles that can't be compensated for. "It's tough for the people who have lived here a long time or plan to live here a long time. There are real roots here." ■ Q: At what point should my growing business seek the services of a profes- sional accounting and business advisory fi rm? A: It's never too soon to ask for advice as decisions made early in the life of a business can have a long-term impact. It's also just as important to maintain a regular dialogue with your accounting advisor. While a strong brand is an un- shakeable foundation of a successful business, accounting and tax planning strategies need to be regularily updated for the changing circumstances a grow- ing business will encounter. Q: As my business and brand evolves, what tax planning strategies should I be considering? A: Although a sale of your business may not be imminent, it's never too early to consider the tax planning that may be implemented to minimize the taxes that could be payable. Changes in the share ownership through the use of a holding company and a family trust could allow a business owner to multiply access to the lifetime capital gains exemption. In addition, the proper structure can also afford income splitting opportunities by paying salaries and/or dividends to fam- ily members. ASK AN ADVISOR L: Steve Reed, CPA, CA R: Warren Haag, CPA, CA Offi ces located in Vancouver & Abbotsford, British Columbia, Canada Visit us at www.manningelliott.com Have Additional Questions? Call 604-714-3600 Taking your growing business and brand to the next level requires guidance and expert tax planning from a fi rm you trust. If you are serious about taking your busi- ness to the next level, contact one of our professional accountants and business advisors today.

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