Grant Thornton Feed: Financial services

2011-11-03T14:52:29-05:00

A recent Supreme Court of Canada (SCC) decision, Dubé v The Queen, has resulted in a significant change in the legal landscape with regard to the tax exempt status of interest income for members of the First Nations community click to open PDF

The DB pension promise: Keeping the faith

2011-10-04T09:41:18-05:00

Results from a Grant Thornton and RBC Dexia sponsored survey—how plan members view thier employer-sponsored nest egg. click to open PDF

The results are in—BC will revert back to the combined PST/GST system

2011-08-26T15:49:22-05:00

On August 5, 2011, the last of the ballots were mailed in to determine the future of BC’s sales tax system. The results are now in. With a simple majority vote of 54.73% in favour of abolishing the Harmonized Sales Tax (HST) and returning to the PST/GST system, the voters of BC have had their say. click to open PDF

Update on changes to the definition of a financial service

2010-12-22T11:18:48-05:00

A Grant Thornton tax article that provides a summary of the events that took place in the lead up to the changes to the definition of what constitutes a “financial service” for GST/HST purposes, along with commentary on some of the guidance contained in the recently revised GST/HST Notice No. 250. click to open PDF

International Business Report 2010—global sector trends

2010-12-17T16:33:12-05:00

Manufacturing: The manufacturing sectors of many economies|,|across the globe have led the recovery from the|,|deepest recession since World War II. The collapse|,|of world trade, a lack of access to credit and|,|declining consumer confidence saw demand|,|plummet across the sector, but in recent months|,|output and orders have increased dramatically. Privately held businesses in the sector are markedly|,|more confident about their current prospects|,|compared to this time last year. click to open PDF

International Business Report 2010—global sector trends

2010-12-17T16:23:25-05:00

Retail: The retail industry suffered during the global economic downturn as declining GDP growth and falling personal disposable income hit retail sales. Having slowed down in 2008, global non-food retail sales growth contracted in 2009 as fears over fiscal austerity measures and unemployment impacted on consumer confidence. The outlook for this sector is a changing business environment, in both the short and the longer-term. click to open PDF

New development summary: IFRS on lease accounting – Exposure Draft issued by the IASB

2010-10-27T09:01:59-05:00

A Grant Thornton publication that discusses the proposed changes to lease accounting that are outlined in a recent Exposure Draft, issued jointly by the International Accounting Standards Board and the Financial Accounting Standards Board. click to open PDF

One solution doesn’t have to mean one strategy.

2010-08-11T09:54:59-05:00

A Grant Thornton LLP white paper for manufacturing and distribution that discusses working both sides of the equation—financial and operational—for a more holistic approach to securing the health of your business. click to open PDF

Finance introduces retroactive measures for investment management fees

2009-12-18T10:28:54-05:00

An article explaining what happened following the decision by the Federal Court of Appeal. Also discussed is the impact of the recent announcement from the Department of Finance. click to open PDF

Catalyst - Fall 2009

2009-10-20T13:54:45-05:00

A Grant Thornton topical newsletter for privately held businesses. This edition focuses what to look at when determining the health of your current financial position and gives you some suggestions on how you can whip your business back into shape. We also explore how some bad debts can be used for tax purposes. click to open PDF

Financial reporting by certain government organizations (amendments to the introduction)—an update

2009-10-19T16:47:29-05:00

A summary of the approved amendments to the July 2009 Public Sector Accounting Board (PSAB) issued Exposure Draft, which exposed amendments to the introduction to the PSA Handbook. click to open PDF

GAAP for private business or IFRS - what's the best choice for you?

2009-10-02T14:40:26-05:00

New international financial reporting standards, or IFRS, will take effect in Canada on January 1, 2011. With the effective date looming, private business owners must decide soon whether or not the adopt IFRS to ensure a smooth transition. click to open PDF

Selling your business - “Be prepared”—nice motto, necessary strategy

2009-09-29T16:37:31-05:00

With a large number of Canadian business owners looking to sell in the next few years, not all will be prepared when they look for opportunity—or when opportunity knocks unexpectedly. It’s critical that owners considering a sale prepare their businesses to maximize after-tax dollars. click to open PDF

International Business Report 2009—Global overview

2009-08-11T15:05:32-05:00

Privately held businesses: the lifeblood of the global economy. The IBR 2009 global overview provides a complete summary of this year's IBR survey results, which focused on a variety of research topics including mergers and acquisitions, business planning, succession and raising finance. click to open PDF

The Road to IFRS - May 2009

2009-05-19T10:37:37-05:00

International Financial Reporting Standards (IFRS) is fast becoming the global accounting language.|,|Over 100 countries have now adopted IFRS and many more have committed to make the transition|,|in the next few years. The benefits of global standards are widely acknowledged. For companies,|,|however, the conversion to IFRS is a major change both for the finance function and for the wider|,|business. click to open PDF

Should your company elect under the new Functional Currency Rules

2009-05-06T15:49:04-05:00

Under new currency rules introduced in 2006, and revised in June of 2008, eligible corporations can elect to report their Canadian tax results using a functional currency other than the Canadian dollar. click to open PDF

Catalyst - Fall 2008

2008-12-08T16:50:21-05:00

In this issue: Lending in the current economy- An interview with RBC's Tim Rider; When the going gets tough... the smart stop to think about the tax implications; and Tax tips for privately held businesses click to open PDF