Thought Leadership

At BGD, we understand that information is key to success. Browse through the latest articles published by our thought leaders and industry Partners.

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Moving to Canada for work? Learn more about your tax obligations while working in Canada

Every year, Canada issues thousands of Work Permits – an official document that allows non-residents to legally work in the country for a pre-defined period and under certain conditions. With today’s globalized economy, transferring employees to different regions has become common to multinational companies. While this change can be thrilling and exciting for employees, there is a lot of important implications that must be considered before you decide to work in Canada. Here’s a few things you should be aware of when it comes to the Canadian tax system.

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Financial Due Diligence: Why an Audit is Not Enough?

There is a line of thinking that if a company is audited, what is the value of performing financial due diligence in the context of a purchase transaction. While an audit has many merits and does provide some comfort with respect to controls and reported numbers, investors need to consider a large number of other metrics that an audit is not designed to report on.

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8 Things to Remember When Filing Personal Tax Returns in Canada

We all know that tax filing can be a tiring and complicated process. Sometimes, it can be hard to stay on top of all the tax changes.

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What is new for this Tax Season

2018 has swiftly arrived and with it, several changes have been brought in by the provincial and federal governments. As a taxpayer, you need to be aware of the recent tax changes in Canada to ensure that you make the appropriate adjustments before April 30 - the deadline to file your return this year. Many important changes and improvements have been observed this tax-filing season. Here are a few things you need to make a note of.

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Effect of Minimum Wage Increase in Ontario on your Business

The general minimum wage in Ontario was increased to $11.60 on October 1, 2017. Speculations in the market about the effect of this recent hike on small businesses and mid-market continue. The concern is justified as for most companies, particularly small businesses, compensation is the most significant business expense.

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Government Announces $50,000 Threshold on Passive Investment Income

In another announcement, Finance Minister Bill Morneau discussed changes to the Government’s small business tax proposal, focusing on the passive investment income policy. According to Morneau, the government will cap passive investment income at $50,000 annually, before higher tax rates apply.

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Small Business Tax Rate to Fall to 9% by 2019

The government announced that the federal small business income tax rate would be decreased. This rate applies to the first $500,000 of qualifying active business income of a Canadian controlled private corporation from 10.

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Government Drops Anti-Surplus Stripping Proposal

Finance Minister Bill Morneau announced on October 19 that the Government is not proceeding with the anti-surplus stripping measure initially proposed as part of the ‘Tax Planning Using Private Corporations’ – the 63-page document released on July 18, 2017, proposing a set of changes to the current tax practices for private corporations in Canada.The proposed Anti-Surplus Stripping rule was initially designed to prevent business owners from converting dividends into capital gains.

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Finance proposes changes to tax planning strategies for Private Corporations

Finance Minister Bill Morneau presented on July 18, 2017 a consultation paper recommending changes to some tax planning strategies currently available to business owners to reduce tax liability for private corporations. This announcement was anticipated in the 2017 Federal Budget released earlier this year, and will have a great impact in all Canadian private companies, including family businesses and professional corporations.

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Why Pay for Due Diligence? What is the Value Proposition?

Performing financial and other types of due diligence prior to an acquisition is often the critical success factor on any completed transaction.

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