On the breakdown of a relationship, the various tax aspects of support payments, legal costs, and division of assets are not usually a main priority; however, tax should not be ignored.
A deemed disposition applies if you choose to convert a property from your principal residence to a rental property, or vice versa. This will result in a capital gain or loss on the property realized from the date of purchase until the date of the deemed disposition.
Negotiation is part of daily life, whether in the home or at the office, but for business owners and managers, it is a fundamental ingredient of effective leadership.
In the launch of GGFL’s Beyond the Numbers speaker series, we are proud to bring you lawyer and accomplished teacher and researcher Glen Whyte, one of North America’s most respected voices in the art of negotiation.
President Trump signed the Tax Cuts and Jobs Act into law on December 22, 2017. A number of measures could result in tax increases for U.S. citizens living in Canada.
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.
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.
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.
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.
On December 14, 2017, the Federal Government adopted proposed changes to the rules relating to work-in-progress (WIP). As a result, professionals will no longer be entitled to elect to exclude WIP from their income.
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.