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Today the Minister of Finance for Canada has announced changes to certain deadlines for filing tax returns and paying taxes: For individuals, the return filing due date will be deferred until June 1, 2020; For trusts having a taxation year ending on December 31, 2019, the return filing due date will be deferred until May […]
Read MoreTo our clients and community, At Mowbrey Gil, the health and safety of our team, clients, and community are always a top priority. Amid the growing concerns around COVID-19, we want to assure you that Mowbrey Gil is closely monitoring the situation and taking additional steps for extra caution. As the situation evolves, we ensure […]
Read MoreCyber attacks come in a variety of forms and with a variety of intentions. Whether for money or pure disruption, organizations are at risk of both the intrusion and the potential breach of regulatory obligations. Identifying cyber risks While there are many different types of cyber threats, the following are the most common five encountered: […]
Read MoreWhen we think about fraud committed against individuals, many of us immediately think of identity theft. Identity theft is the taking of a victim’s private information (such as their social insurance number or birthdate) to use for financial gain. Examples of identity theft include applying for and using a credit card with the stolen information. […]
Read MoreAs always, the Department of Finance together with Canada Revenue Agency supply the taxpayer with changes to the tax rules for individuals and families. Some of the changes that may be of interest: Enhanced Canada Pension Plan/Quebec Pension Plan – Starting in 2019, the Canada Pension Plan (CPP) and the Quebec Pension Plan (QPP) are […]
Read MoreMore than a year has passed since the U.S. Supreme Court rendered its decision in the case of South Dakota v. Wayfair Inc. States can now require an out-of-state seller to register for their Sales and Use Tax (“SUT”) and collect it even if this seller doesn’t have a physical presence in the state. The […]
Read MoreA valuation is often viewed as a number crunching exercise with readily available inputs and assumptions available, but it typically involves many subjective assessments, choices and assumptions that are prone to bias in a valuation. That is often driven by the underlying purpose for the valuation and if not managed properly, can give a result […]
Read MoreInitially, there was going to be a new set of rules for any stock options issued after December 31, 2019, effective January 1, 2020. However, the Department of Finance recently released a statement that the effective date of the new rules will be disclosed in a future communication- likely the budget released in March or […]
Read MoreThe new year brings new changes and new ideas; if you’re planning on incorporating or starting a business as a sole proprietor here is some advice to consider for planning an effective year-end. Plan in Accordance with Your Highs and Lows If your business is seasonal or cyclical, you’ll ideally want to establish a year-end […]
Read MoreSince March 19, 2019, companies that purchased zero-emission vehicles (such as an electric vehicle) have been able to benefit from attractive tax incentives. In Bill C-97 (first budget implementation bill of 2019, second reading of April 30, 2019), the Canadian Department of Finance added two new depreciation categories for zero-emission vehicles. Here is an overview […]
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