Library - GGFL Chartered Accountants

The Time to Get a Business Valuation is Now for Immediate Tax Savings

The Time to Get a Business Valuation is Now for Immediate Tax Savings

Kody Wilson, CPA, CA, CBV Partner & Chartered Business Valuator, Tax & Advisory Services By now, most business owners are likely aware of the positive developments from Finance Canada (Bill C-208) over the summer that have effectively allowed business owners to sell their businesses to adult children and claim the lifetime capital gains exemption, currently […]

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Changes Coming: Compilation Engagement Reports Replacing Notice to Reader

Changes Coming: Compilation Engagement Reports Replacing Notice to Reader

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Sarah Tremblay, CPA, CA, LPA Principal, Assurance & Advisory Services Businesses and lenders accustomed to requesting or reviewing Notice to Reader financial statements will want to take note of an important change coming into effect later this year. Starting for periods ending on or after December 14, 2021, Notice to Reader engagements will now be […]

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Spotlight on the New Ontario Business Registry Portal

Spotlight on the New Ontario Business Registry Portal

Carol Jackson, CPA, CA Senior Manager, Tax & Advisory Services The Ontario government has recently launched an online Ontario Business Registry (“OBR”) portal for businesses and not-for-profits registered, incorporated, or licensed to carry on business in Ontario. There are over 90 different online services available through the portal, including Annual Return filings, registering a new […]

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The Future of Your Office – There’s a Lot to Consider

The Future of Your Office – There’s a Lot to Consider

Anne Van Delst, CPA, CA, LPA Partner, Assurance & Advisory Services More and more businesses are beginning to re-open their offices as we begin to see some light at the end of the pandemic tunnel. Many business owners are simultaneously contemplating their future office needs. There are many things to consider in determining your office […]

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Employees and the Cost of Owning a Small Business

Employees and the Cost of Owning a Small Business

When the Department of Finance announced earlier this year that it was planning to end “income sprinkling,” GGFL was at the vanguard of local protest. It’s not news to anyone that the protests have grown and the issue has since become a major thorn in the federal government’s side. Along with the nation’s accountancy community and, collectively, our millions of clients, we anxiously await what we expect and hope will be significant changes to the proposed legislation.

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Highlights from the Ontario Fall Economic Statement

Highlights from the Ontario Fall Economic Statement

The provincial government released their Fall Economic Statement on Thursday. Billed as a pre-election mini-budget to Build Ontario, the statement proposes a number of investments in infrastructure, health care and skilled trades, but very few income tax initiatives. No income tax cuts were made. The government is projecting a deficit of $21.5B for 2021-22, a […]

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COVID Relief Program Update – October 2021

COVID Relief Program Update – October 2021

On October 21st, the federal government made a number of announcements about COVID-19 relief programs. Some programs are coming to end, new programs are being introduced and some programs have been extended. Here’s a summary of the changes. What’s Ending? The Canada Emergency Rent Subsidy (CERS) and the Canada Emergency Wage Subsidy (CEWS) are both […]

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Working at GGFL

Working at GGFL

WE’RE CHANGING . . . AND STAYING THE SAME. In March 2020, as Canada began to realize the severity of COVID-19, we at GGFL closed our office and become a virtual firm. Had we decided to do that in ‘normal’ times, it would likely have taken years. With COVID looming large, the pivot took us […]

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