Gone are the days of having to send your cheques to Canada Revenue Agency (CRA) by snail mail or having to go to the bank and pay in person. Paying CRA is now as easy as paying the cable bill. You can pay CRA using your online banking or the “My Payment” option on CRA’s Website.
By Meghan Willison-O’Connor, Tax Technician Supervisor & Robin Vernell, Tax Assistant As we approach tax season, there is one simple, but important step business owners can take to help make their filing and on-going interactions with CRA easier and more efficient. With just a few steps, you can authorize GGFL to speak with CRA on […]
Gathering all the tax return information to send to your accountant and/or CRA can be unnecessarily time consuming and involve way too much paper. GGFL Associate Partner Jean McDonell offers these tips to make the annual chore a little less . . . well, taxing. Ask your dental professional, pharmacist or other relevant health professional […]
Carol Jackson, CPA, CA Senior Manager, Tax & Advisory Services With the high price of gasoline, COP26 and recent heat and flooding disasters in BC fresh in everyone’s mind, many consumers may be considering purchasing an electric vehicle. Through the federal government’s Incentives for Purchasing Zero-Emission Vehicles (iZEV) program, consumers may be eligible for a […]
Kody Wilson, CPA, CA, CBV Partner & Chartered Business Valuator, Tax & Advisory Services By now, most business owners are likely aware of the positive developments from Finance Canada (Bill C-208) over the summer that have effectively allowed business owners to sell their businesses to adult children and claim the lifetime capital gains exemption, currently […]
Sarah Tremblay, CPA, CA, LPA Principal, Assurance & Advisory Services Businesses and lenders accustomed to requesting or reviewing Notice to Reader financial statements will want to take note of an important change coming into effect later this year. Starting for periods ending on or after December 14, 2021, Notice to Reader engagements will now be […]
Carol Jackson, CPA, CA Senior Manager, Tax & Advisory Services The Ontario government has recently launched an online Ontario Business Registry (“OBR”) portal for businesses and not-for-profits registered, incorporated, or licensed to carry on business in Ontario. There are over 90 different online services available through the portal, including Annual Return filings, registering a new […]
Anne Van Delst, CPA, CA, LPA Partner, Assurance & Advisory Services More and more businesses are beginning to re-open their offices as we begin to see some light at the end of the pandemic tunnel. Many business owners are simultaneously contemplating their future office needs. There are many things to consider in determining your office […]
When the Department of Finance announced earlier this year that it was planning to end “income sprinkling,” GGFL was at the vanguard of local protest. It’s not news to anyone that the protests have grown and the issue has since become a major thorn in the federal government’s side. Along with the nation’s accountancy community and, collectively, our millions of clients, we anxiously await what we expect and hope will be significant changes to the proposed legislation.
The provincial government released their Fall Economic Statement on Thursday. Billed as a pre-election mini-budget to Build Ontario, the statement proposes a number of investments in infrastructure, health care and skilled trades, but very few income tax initiatives. No income tax cuts were made. The government is projecting a deficit of $21.5B for 2021-22, a […]