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Selling Shares of a Private Corporation

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 savings.

2018 Tax Facts for Ontario Residents

2018 Tax Facts for Ontario Residents

Following last month’s Ontario Budget Release, we’ve updated our Tax Facts for Ontario Residents document to present 2018’s current rates, as well as those proposed. GGFL’s “go-to” Tax Facts sheet is a quick reference guide on 2017-2018 Ontario tax rates.

What is a Reasonable Return on Your Private Company Shares?

What is a Reasonable Return on Your Private Company Shares?

On July 18, 2017 and December 13, 2017, the Department of Finance introduced changes to the taxation of dividends that an individual receives from a private company. Many people who receive dividends from a private company could see that income taxed at the top personal tax rate without the benefit of the personal tax credits.

Rewarding Promotions at GGFL

Rewarding Promotions at GGFL

GGFL’s reputation is attributed to exceptional staff providing exceptional service to our clients. We continue to invest in our tax and assurance teams to meet the demands of our clients, and are very pleased to announce the promotions of several staff members.

Federal Budget Highlights 2018

Federal Budget Highlights 2018

Yesterday, Finance Minister Bill Morneau released his highly anticipated 2018 Federal Budget, geared towards equality, and being a more competitive, diverse, and inclusive country. GGFL’s main focus is on how each budget will impact our clients and their businesses. To that end, we have chosen the top five budget highlights that we feel will have the greatest impact on you in 2018.

The Importance of Updating Your Accounting Software

The Importance of Updating Your Accounting Software

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As our work at GGFL reaches its annual peak, we are reminded how important it is for our clients to be using up-to-date software to store and transmit their financial data.

Updated, supported software means a safe and secure home for a company’s financial data. Updated software also means compatible systems, and that the marriage of your financial data with your accountant’s software is seamless and time efficient.