Business

New Luxury Tax Coming into Force on Planes, Boats & Automobiles

New Luxury Tax Coming into Force on Planes, Boats & Automobiles

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By: Chad Saikaley, CPA, CA, TEP Partner, Head of Tax, Advisory Services If you’ve been eyeing a new Tesla Model X or perusing marinas looking for a new boat to enjoy next summer, you may need to dig a little deeper into your pockets when it’s time to sign on the dotted line. On September […]

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How to Pay CRA Online

How to Pay CRA Online

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.

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Simplify Tax Season Through Your CRA My Business Account

Simplify Tax Season Through Your CRA My Business Account

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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 […]

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Nine Ways To Make Your Tax Preparation More Efficient

Nine Ways To Make Your Tax Preparation More Efficient

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 […]

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Electric Vehicle Rebates for Consumers & Businesses Explained

Electric Vehicle Rebates for Consumers & Businesses Explained

Carol Jackson, CPA, CA Senior Manager, Tax & Advisory Services With the high price of gasoline, the COP26 UN Climate Change Conference, and the recent natural disasters in BC fresh in everyone’s mind, many consumers may be considering purchasing an electric vehicle (EV). Buyers may be eligible for an incentive rebate off the Manufacturer’s Suggested […]

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The Time to Get a Business Valuation is Now for Immediate Tax Savings

The Time to Get a Business Valuation is Now for Immediate Tax Savings

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 […]

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Changes Coming: Compilation Engagement Reports Replacing Notice to Reader

Changes Coming: Compilation Engagement Reports Replacing Notice to Reader

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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 […]

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Spotlight on the New Ontario Business Registry Portal

Spotlight on the New Ontario Business Registry Portal

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 […]

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