Tagged with: "Fair Market Value"
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2024 Charitable Donation Deadline Extension: A Potential Opportunity for Donors
Business Owners, Charitable Giving, News
The federal government recently announced an extension to the 2024 charitable donation deadline, allowing donations made up to February 28, 2025, to be claimed on 2024 tax returns. This move aims to address delays caused by the Canada Post strike, providing charities and donors extra time to process contributions. While this measure was welcomed by […]
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Cheers To An Amazing 30 Years
In Scottish culture, the New Year, or Hogmanay as the Scottish call it, brings a sense of renewal and reflection. Growing from its Scottish origins while enjoying an incredible journey along the way, GBL is thrilled to celebrate its 30th anniversary in 2025. Since our founding in 1995, we have serviced over 7000 clients and […]
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Valuations of Interests in Family Trusts
A family trust is created as either an inter vivos trust, established during the lifetime of the donor, or a testamentary trust, established in connection with a will. The retained income in an inter vivos trust has always been and will continue to be taxed at the flat top-tax rate; however, testamentary trusts receive favorable […]
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GBL’s Fraser Lang Featured in Morningstar Story
For self-employed professionals — such as doctors, dentists, lawyers and architects — the tax savings from using a personal or private corporation are well known. By incorporating their business, they can either retain earnings or pay dividends, thus managing the amount and timing of personal income taxes. A less well known but also effective tax-efficient […]
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