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Importance of Governance Structures for Family Businesses
Governance structures are crucial for the long-term success and sustainability of family businesses. Unlike public companies, family enterprises face unique challenges, including the intertwining of family dynamics with business operations. Establishing robust governance structures—such as family councils, boards, and advisory committees—ensures that these businesses remain resilient, adaptable, and well-positioned for future growth. Why Governance Structures […]
Accounting Support for Your Business
November 25, 2024Tailored Accounting Services to Support Your Business Bookkeeping and accounting records are essential to a business. When your accounting processes are going well, the financial information is accurate, up-to-date and helps you make informed business and tax planning decisions. If, however, bookkeeping tasks take a backseat and are updated less frequently, then the catch-up work […]
Temporary GST/HST Relief and The Working Canadians Rebate
November 22, 2024On November 21, 2024, the federal government announced a temporary two-month Goods and Services Tax/Harmonized Sales Tax (GST/HST) relief on groceries and “holiday essentials” to provide financial support to all Canadians, along with the Working Canadians Rebate—a one-time, tax-free $250 payment for eligible individuals who worked in 2023 and have a net income of up […]
Ontario Fall Economic Statement Tax Updates 2024-2025
Overview On October 30, 2024, Ontario’s Minister of Finance has delivered the 2024 Ontario Fall Economic Statement “Building Ontario for You”. This comprehensive summary highlights the key changes introduced in the Fall Economic Statement. Personal Income Tax Measures New taxpayer rebates The Ontario government introduces a refundable Personal Income Tax credit that would provide a […]
