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Fastest Growing Companies 2024 logo
January 10, 2024 Expanding your business

Applications Open for the 2024 Fastest Growing Companies Awards

GGFL is thrilled to be partnering with the Ottawa Business Journal again this year to present the 2024 Fastest Growing Companies awards. This is your chance to be recognized for substantial, sustainable and profitable growth. Eligible companies must be headquartered in
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House model, money and wooden blocks with text
December 11, 2023 Article

Changes Coming to Underused Housing Tax – List of Exemptions

As part of its Fall Economic Update, the federal government introduced several important changes to the still new Underused Housing Tax (UHT). When the draft amendments are passed, it will have a significant impact on who is required to file annual UHT returns.
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Money transfer between US and Canada, and foreign affiliate tax traps
November 30, 2023 Article

Surplus Accounts and Foreign Affiliate Tax Traps

Canadian corporations with subsidiaries in other countries (a “foreign affiliate”) could find themselves facing a nasty surprise tax bill from the Canada Revenue Agency (“CRA”) when they transfer funds back to Canada. Aside from being located outside of Canada,
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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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Illustration - calendar with December 31str circled
November 3, 2023 Article

Window Closing on Immediate Expensing Tax Incentive Program

The ‘Immediate Expensing’ tax incentive program offered by the Federal Government is coming to an end on December 31st. To help ensure that you’re making the most of this incentive, it is essential to understand the concept of immediate expensing and the
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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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