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Don’t be found GILTI

Don’t be found GILTI

In December 2017, the U.S. introduced sweeping tax reforms that included the introduction of a new tax on international income called the “Global Intangible Low-Taxed Income” (GILTI).

Beginning in 2018, this tax would require U.S. shareholders of controlled foreign corporations (CFC) to include on their personal U.S. tax returns any income earned by the corporation in excess of a 10% return on the corporation’s tangible depreciable capital property.  In future years, practitioners must carefully plan for the impact of this tax.

New corporate record requirements for federal companies – Register of Individuals with Significant Control

New corporate record requirements for federal companies – Register of Individuals with Significant Control

As of June 13, 2019, amendments to the Canada Business Corporation Act (CBCA) will impose more stringent recordkeeping requirements on federally incorporated businesses to improve corporate transparency and help combat money laundering.

Federal corporations will now be required to create and maintain a register of Individuals with Significant Control (ISC Register). The ISC Register must include information about individuals who own, control, or direct a significant number of shares of the corporation, or otherwise have significant influence over the corporation.

GGFL Beyond the Numbers Event

GGFL Beyond the Numbers Event

There are two things that employees dislike: Change and things that stay as they are. So said Future of Work author Eric Termuende, guest speaker at GGFL’s second annual Beyond the Numbers event, held at Dow’s Lake on May 22.

GGFL invited Termuende to give our business clients the opportunity to hear his views on how to address the talent shortage – a situation many employers consider to be a crisis.

ShareFile FAQ

ShareFile FAQ

While we do everything we can to protect your information, we also know that email is increasingly vulnerable to attack. Since the information we share is highly sensitive, our standard policy is to only share electronic files through ShareFile. Find the answers to questions you may have about our new file-sharing portal.

GGFL Portal User Guide

GGFL Portal User Guide

This document provides the basics of ShareFile to help you get started accessing, downloading and uploading files faster.

Sending personal tax documents through ShareFile

Sending personal tax documents through ShareFile

This guide provides the basics of ShareFile to help you get started accessing, downloading and uploading your files faster. Read on for a step-by-step guide on using our new file-sharing portal

GGFL disappointed promise of tax review absent from Budget

GGFL disappointed promise of tax review absent from Budget

A new report from CPA Canada, released in advance of the federal budget, says that a review of Canada’s tax system should focus on making the tax system simpler, fairer, more efficient, and internationally competitive. Canada’s last major overhaul of tax law was in the pre-internet days of 1972. GGFL’s Head of Tax Chad Saikaley agrees the system is out of date, and with legislated add-ons over the decades has become a patchwork that is inconsistent and impossible for the average informed Canadian to understand.

A potential new attack on your bank account

A potential new attack on your bank account

Fraudsters may attempt to help themselves to money in your bank account. Read one account of how easily this could happen, and why it’s important to regularly check your account online, as well as complete monthly bank reconciliations.