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 […]
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 […]
COVID has changed how and where we work. Employers hoping to bring staff back to the office will need to take steps to ensure each day in the office is a positive and beneficial experience for staff, including some who may be reluctant to leave the comforts of their home office. In this online presentation, […]
This article provides an overview of various planning matters related to the use of a family trust in the ownership of a business.
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 […]
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 […]
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.
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 […]
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 […]
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 […]