Chef Michael Smith

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Tax alert T3 Schedule 15: Does your trust have additional reporting requirements?

In its last update on August 12, 2024, the Department of Finance (Finance) released draft legislation that proposes changes to these rules, which were originally enacted on December 15, 2022. It’s critical that you determine your trust’s reporting requirements each tax year as the non-compliance penalties are significant.

7 min read | 18 Nov 2024

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Tax Alert Flipping a house? Your gain could be fully taxable under this new rule

The federal government has released draft legislation for the new residential property flipping rule introduced in Budget 2022. Read more in our summary.

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Every action has a ripple effect. For a business like The Inn at Bay Fortune and its restaurant, The FireWorks, run by Chef Michael Smith and his wife, Chastity, in Eastern PEI, those ripples are what make life worthwhile.

Starting with family. Their 11-year-old daughter, Ariella, is learning the ropes of the operation and contributing to its success. She and her siblings have grown up seeing their parents build a meaningful business that supports their community.

Chef Michael and Chastity also pay their staff well including health and benefits so everyone feels valued and appreciated for their work – without tips. They use small independent producers, who share their passions for everything from mushrooms to oysters to cured meat. Chef Michael and his team take the time to learn their stories and get to know them as people. They connect with their guests, too, with farm tours before every meal and communal dining, giving complete strangers the chance to break bread and get to know each other.

From maintaining a sustainable business to showcasing artwork by local artists to hosting an annual Village Feast benefitting communities in rural Kenya, Chef Michael and Chastity work hard on their dream and are incredibly proud of the ripples that connect them to everyone in their community. It’s part of what being Canadian is all about, says Chef Michael. “Take a look at the communities around you and make sure you’re doing your best.”

Take a look at the communities around you and make sure you’re doing your best.

Chef Michael Smith
Proprietor, The Inn at Bay Fortune

Interested in finding out more?

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Every action has a ripple effect. For a business like The Inn at Bay Fortune and its restaurant, The FireWorks, run by Chef Michael Smith and his wife, Chastity, in Eastern PEI, those ripples are what make life worthwhile.

Further reading

Take a look at the communities around you and make sure you’re doing your best.

For more Faces of a Vibrant Community, visit our hub.

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Chef Michael Smith

Every action has a ripple effect. For a business like The Inn at Bay Fortune and its restaurant, The FireWorks, run by Chef Michael Smith and his wife, Chastity, in Eastern PEI, those ripples are what make life worthwhile.

Further reading

Take a look at the communities around you and make sure you’re doing your best.

Interested in finding out more?

Meet other faces of a vibrant community

For more Faces of a Vibrant Community, visit our hub.