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![BUDGET 2024 text on a small yellow piece of paper lying on top of the calculator.](https://www.ggfl.ca/wp-content/uploads/2024/04/iStock-1475806624-1024x656.jpg)
![BUDGET 2024 text on a small yellow piece of paper lying on top of the calculator.](https://www.ggfl.ca/wp-content/uploads/2024/04/iStock-1475806624-1024x656.jpg)
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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![Illustration - calendar with December 31str circled](https://www.ggfl.ca/wp-content/uploads/2023/11/december-31-immediate-expensing.jpg)
![Illustration - calendar with December 31str circled](https://www.ggfl.ca/wp-content/uploads/2023/11/december-31-immediate-expensing.jpg)
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.](https://www.ggfl.ca/wp-content/uploads/2023/10/retirement-plan-1024x683.jpg)
![Note pad and pwn with retirement plan written at the top.](https://www.ggfl.ca/wp-content/uploads/2023/10/retirement-plan-1024x683.jpg)
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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![Hand holding alarm clock with hands moving from the year 2022 to 2023](https://www.ggfl.ca/wp-content/uploads/2022/10/year-end-tax-planning-1024x692.jpg)
![Hand holding alarm clock with hands moving from the year 2022 to 2023](https://www.ggfl.ca/wp-content/uploads/2022/10/year-end-tax-planning-1024x692.jpg)
End-of-Year Tax Planning Tips
The end of the year is rapidly approaching, which commonly brings about a time when business owners reflect on taxes. There are a few considerations that owners can contemplate to help maximize tax efficiency. Below are some immediate things you can contemplate and
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![Black graduation hat with dollar sign tag hanging off end of hat](https://www.ggfl.ca/wp-content/uploads/2019/08/Graduate-Student-Loan-Icon-Student-Loan-Graphics-for-Education-Financial-Aid-or-Assistance-Government-Loans-and-Debt-967430754_1978x1521-1024x788.jpeg)
![Black graduation hat with dollar sign tag hanging off end of hat](https://www.ggfl.ca/wp-content/uploads/2019/08/Graduate-Student-Loan-Icon-Student-Loan-Graphics-for-Education-Financial-Aid-or-Assistance-Government-Loans-and-Debt-967430754_1978x1521-1024x788.jpeg)
Tuition Savings Strategies for Business Owners
No matter how you slice it, paying for college or university tuition is costly. A 2018 survey of 23,000 students by MacLeans Magazine put the average annual cost of college or university at close to $20,000. For families with young children, the cost will only get
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![Illustration of man measuring giant percentage symbol](https://www.ggfl.ca/wp-content/uploads/2022/08/higher-interest-rates-1-1024x655.jpg)
![Illustration of man measuring giant percentage symbol](https://www.ggfl.ca/wp-content/uploads/2022/08/higher-interest-rates-1-1024x655.jpg)
CRA Prescribed Rate Rising – What Does it Mean for You?
The impact of rising interest rates by the Bank of Canada are being felt in many places, including the Canada Revenue Agency. Effective October 1st, the CRA prescribed base interest rate will be rising to 3% (currently at 2%) for the fourth quarter of 2022. The
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