GGFL NEWSLETTER - SPRING 2009
When Can You Use Your RRSP to Buy a Business?
If you are purchasing shares of a privately owned corporation, you may be considering purchasing them through your Registered Retirement Savings Plan ("RRSP") to obtain a tax deduction. There are strict rules in place that dictate which investments are allowed to be held within an RRSP.
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Positioning Your Business For Sale
During tough economic times, it may be difficult to envision a possible sale of your business. However, it is likely an appropriate time to start positioning your business so that it will be attractive to a wider range of possible purchasers when economic conditions improve.
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Public Market Meltdown - Impact on Private Company Valuations
Most people are aware of the significant drop in the stock markets last fall. What does this imply for the values of private companies?Private-company and public-company valuations are correlated, but not perfectly. Valuation parameters are not the same in both sectors. Much of the difference relates to future growth expectations.
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Quick Tax Facts
Quick tax facts on the following issues:
- Unused Capital Losses and Their Carry Forward/Back Rules
- Home Renovation Tax Credit
- Meals and Entertainment for GST Input Tax Credits
- T1 Adjustments
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