by David Monteith | Jun 29, 2026
TLDR: Converting Customer Liabilities Into Continuous Financial Control Most Canadian restaurant operators treat gift card sales as immediate revenue and absorb the cash directly into operating expenses. The Excise Tax Act and the Income Tax Act treat those...
by David Monteith | Jun 22, 2026
Protecting Your Restaurant’s Profit Margin: The Ultimate Defence Against Aggressive CRA Audits TLDR The Canada Revenue Agency actively targets restaurants for unreported cash income using aggressive net worth audits and harsh penalties for point-of-sale...
by David Monteith | Jun 15, 2026
The Hidden Insurance Gaps Leaving Restaurant Owners Personally Bankrupt TLDR Summary Standard commercial insurance policies leave Canadian restaurant owners exposed to catastrophic financial risks. Generic packages routinely omit employment practices liability,...
by David Monteith | Jun 8, 2026
The Financial Case for Closing Your Restaurant One Day a Week TLDR Summary Operating a restaurant seven days a week frequently destroys profit margins by forcing owners to subsidize historically slow days with weekend revenues. By strategically closing on the slowest...
by David Monteith | Jun 1, 2026
Why the Catering Contract Your Restaurant Signs Is a Financial Liability TLDR Summary Event deposits received by restaurants are taxable for GST/HST purposes at the exact time they become non-refundable, not at the time of the event, which frequently causes...
