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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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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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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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Three Tax Efficient Strategies for Managing Retained Profits
Related Content Re-visiting Estate Freezes – a COVID-19 Silver Lining for Business Owners | What to Plan for When Selling Your Business in 2021 | Passing the torch: The complexities of succession planning While most businesses have suffered a difficult or
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Paying dividends to family members
Personal taxation for families that operate a business through a Canadian Controlled Private Corporation has drastically changed since the announcement of the new Tax on Split Income (TOSI) rules for adults in July of 2017. Prior to the changes, a shareholder could
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Selling Shares of a Private Corporation
As a shareholder of a private corporation, it's important to know the options and tax planning before you sell your shares. Planning for the structure of the sale now can result in considerable tax
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