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Capital gains tax increase: Postponed until 2026
On January 31, 2025, the Canadian federal government announced a deferral of the proposed increase in the capital gains inclusion rate. Originally set to take effect on June 25, 2024, the implementation date has now been postponed to January 1, 2026. This change affects individuals realizing annual capital gains exceeding $250,000, as well as corpo ... Read more
Audit, review, or compilation engagement: what’s the difference?
Year-end financial statements provide a ‘snapshot’ of your business’ finances. However, the level of detail required, and the associated level of reporting, varies considerably based upon the type of engagement. To determine what engagement is appropriate for your business, it is important to understand the difference between the varying leve ... Read more
Corporate restructuring – When does it make sense?
To be successful in business over the long term, resilience and adaptability are critically important. Business managers/owners can face financial challenges for a variety of reasons ranging from changing customer needs or demographics, obsolete processes/technology, or new, aggressive competition or economic downturns. Businesses that ignore the w ... Read more
Private-label brands gaining momentum in food and beverage
There was a time when private label products were viewed as cost-saving, lower-quality alternatives for budget-conscious consumers. But their image has evolved considerably over the years. Private label brands have shed their discount image and evolved into quality, premium product offerings that span a broader population segment. Metro’s Irresis ... Read more
Understanding goodwill value in the construction industry
The amount of commercial goodwill attached to a profitable construction business will depend on its specific characteristics. In general terms, goodwill is the value of a business in excess of its balance sheet “book value”. “Commercial” goodwill represents intangible value associated with a business’ location, product/service brand or of ... Read more