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BUDGET 2024 text on a small yellow piece of paper lying on top of the calculator.
April 17, 2024 Article

2024 Federal Budget Highlights & Commentary

On April 16, 2024, the Deputy Prime Minister and Finance Minister, the Honourable Chrystia Freeland, presented Budget 2024 to the House of Commons. No changes were made to personal or corporate tax rates. However, the inclusion rate on taxable capital gains has been
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March 28, 2024 Article

The Bare Facts on The New Bare Trust Reporting Requirements

BREAKING: Relief for Taxpayers as CRA Cancels Bare Trust Filing Requirements for 2023. CRA announced on March 28, 2024, that Bare Trusts will not be required to file a return in in 2023. Their news release stated: The news release states “in recognition that the
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February 7, 2024 Article

New Reporting Requirements For Trusts

Each tax season brings the enforcement of tax changes announced in the previous year. This year, while there were no changes to the income tax treatment of trusts, there are significant additional reporting requirements for trusts with a fiscal year ending on or after
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November 13, 2023 Article

Changes to the Alternative Minimum Tax: What Should You Expect for 2024 and Onwards?

Please note that changes to the Alternative Minimum Tax are expected to become effective in the beginning of 2024, but have not been enacted as of the date of this GGFL tax news release. Drafts of legislative proposals were released on August 4, 2023, but have not
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Note pad and pwn with retirement plan written at the top.
October 10, 2023 Article

Exploring Retirement Fund Options for Business Owners

As a business owner in Ontario looking ahead to retirement, it’s vital to understand the various avenues for accessing your hard-earned funds from your RRSP, RRIF and retained earnings of your private company during this new phase of life. Decisions you make will
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Estate freezes and a Covid-19 Benefit for Business owners
November 5, 2020 Article

Re-visiting Estate Freezes – a COVID-19 Silver Lining for Business Owners

Related Content What to Plan for When Selling Your Business in 2021 | Three Tax Efficient Strategies for Managing Retained Profits | Passing the torch: The complexities of succession planning To say that 2020 has been rough for most business owners is an
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