You trust your external auditor to deliver not only a high-quality, independent audit of your financial statements but to provide a range of support, including assessing material risks, evaluating internal controls and raising awareness around new and amended accounting standards.
Get the clear financial picture you need with the accounting standards team at Doane Grant Thornton LLP. Our experts have extensive experience with private enterprises of all sizes in all industries, an in-depth knowledge of today’s accounting standards, and are directly involved in the standard-setting process.
Whether you are already using IFRS or considering a transition to this global framework, Doane Grant Thornton LLP’s accounting standards team is here to help.
From small, community organizations to large, national charities, you can count on Doane Grant Thornton LLP’s accounting standards team for in-depth knowledge and trusted advice.
Working for a public-sector organization comes with a unique set of requirements for accounting and financial reporting. Doane Grant Thornton LLP’s accounting standards team has the practical, public-sector experience and in-depth knowledge you need.
Whether you are a private or public organization, your goal is to manage the critical aspects of tax compliance, and achieve the most effective results. At Doane Grant Thornton, we focus on delivering relevant advice, and providing an integrated planning approach to help you fulfill compliance obligations.
Are you developing innovative processes or products, undertaking experimentation or solving technological problems? If so, you may qualify to claim SR&ED tax credits. This Canadian federal government initiative is designed to encourage and support innovation in Canada. Our R&D professionals are a highly-trained, diverse team of practitioners that are engineers, scientists and specialized accountants.
Keeping track of changes and developments in GST/HST, Quebec sales tax and other provincial sales taxes across Canada, can be a full-time job. The consequences for failing to adequately manage your organization’s sales tax obligations can be significant - from assessments, to forgone recoveries and cash flow implications, to customer or reputational risk.
The United States has a very complex and regulated tax environment, that may undergo significant changes. Cross-border tax issues could become even more challenging for Canadian businesses looking for growth and prosperity in the biggest economy in the world.
In an increasingly flexible world, moving across the border may be more viable for Canadians and Americans; however, relocating may also have complex tax implications.
While there is great opportunity for businesses looking to expand globally, organizations are under increasing tax scrutiny. Regardless of your company’s size and level of international involvement—whether you’re working abroad, investing, buying and selling, borrowing or manufacturing—doing business beyond Canada’s borders comes with its fair share of tax risks.
Transfer pricing is a complex area of corporate taxation that is concerned with the intra-group pricing of goods, services, intangibles, and financial instruments. Transfer pricing has become a critical governance issue for companies, tax authorities and policy makers, and represents a principal risk area for multinationals.
Like many private business owners today, you’ve spent your career building and running your business successfully. Now you’re faced with deciding on a successor—a successor who may or may not want your direct involvement and share your vision.
The financial and tax reporting obligations of public markets and global tax authorities take significant resources and investment to manage. This requires calculating global tax provision estimates under US GAAP, IFRS, and other frameworks, and reconciling this reporting with tax compliance obligations.
In its last update on August 12, 2024, the Department of Finance (Finance) released draft legislation that proposes changes to these rules, which were originally enacted on December 15, 2022. It’s critical that you determine your trust’s reporting requirements each tax year as the non-compliance penalties are significant.
Our transactions group takes a client-centric, integrated approach, focused on helping you make and implement the best financial strategies. We offer meaningful, actionable and holistic advice to allow you to create value, manage risks and seize opportunities. It’s what we do best: help great organizations like yours grow and thrive.
We bring a wide range of services to both individuals and businesses – including shareholders, executives, directors, lenders, creditors and other advisors who are dealing with a corporation experiencing financial challenges.
Running a business is challenging and you need advice you can rely on at anytime you need it. Our team dives deep into your issues, looking holistically at your organization to understand your people, processes, and systems needs at the root of your pain points. The intersection of these three things is critical to develop the solutions you need today.
The federal government has released draft legislation for the new residential property flipping rule introduced in Budget 2022. Read more in our summary.
Effective, risk management—including governance and regulatory compliance—can lead to tangible, long-term business improvements. And be a source of significant competitive advantage.
Organizations thrive when they are constantly innovating, improving or creating new services and products and envisioning new markets and growth opportunities.
The corporate governance landscape is challenging at the best of times for public companies and their subsidiaries in Canada, the United States and around the world.
Naturally, clients and stakeholders want reassurance that there are appropriate controls and safeguards over the data and processes being used to service their business. It’s critical.
By automating standard administrative and accounting work, cloud accounting with Doane Grant Thornton can free up your time to concentrate on more important...
Legacy is not only about honouring the past—it’s also about looking forward and continuing to build upon those values, traditions, and achievements to create...
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Farming is a lifestyle and a legacy. It’s the heartbeat of your family and the backbone of our communities. Success grows from hard work, patience and...
The Canadian Accounting Standards Board (AcSB) has released new guidance on recognizing, measuring and disclosing biological assets and the harvested products of bio assets.
The Agricultural Clean Technology Program will provide financial assistance to farmers and agri-businesses to help them reduce greenhouse gas (GHG) emissions.
Whatever your goal, the experts at Grant Thornton are ready to work with you to map out a plan for success. As members of the Global Cannabis Partnership...
Here’s to the change-makers, the believers and the community-builders. Charities and not-for-profit organizations truly stand apart from the crowd. In today’s...
In the world of real estate and construction, timing is everything. From acquisition to exit—and every point in between—you need high-quality information and...
Looking back, the theme for 2023 in the real estate industry was one of caution as investors and real estate owners braced for the effects of rising interest and inflation rates to stabilize.
It’s not business as usual within the energy and natural resources sectors. Change has become constant and disruptive, in part a result of consolidation and...
There’s no business quite like mining. It’s volatile, risky and complex – but the potential pay-off is huge. You’re not afraid of a challenge: the key is finding the right balance between risk and reward. Whether you’re a junior prospector, a senior producer, or somewhere in between, we’ll work with you to explore, discover and extract value at every stage of the mining process.
The oil and gas industry is facing many complex challenges, beyond the price of oil. These include environmental issues, access to markets, growing competition from alternative energy sources and international markets, and a rapidly changing regulatory landscape, to name but a few.
Canadian manufacturers seeking to grow their businesses must address common issues, including limited access to finance, high raw material costs, inflexible...
To acquire high-quality assets in today’s unprecedented competitive global market, private equity firms and their portfolio companies must be increasingly...
Professional services firms face a dual challenge: anticipating and managing change not only for your clients, but also for your business. In today’s...
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Deputy Prime Minister and Minister of Finance, Chrystia Freeland, delivered Made-in-Canada Plan (Budget 2023) on March 28, 2023. Budget 2023 is influenced by a range of factors, including tax measures to:
address the cost-of-living pressures driven by inflation
stay competitive in the transition towards a greener economy
demonstrate fiscal responsibility after posing massive deficits during the pandemic
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Budget 2023 announces changes to the alternative minimum tax, extends the six-month increase to the GST rebate, and introduces a “grocery rebate”. It also increases spending in areas like health and dental care, and introduces direct support for low-income Canadians, and new programs to boost the clean economy.
Budget 2023 centers around the following three pillars:
People
Budget 2023 announces several measures to support Canadians, including investments in health and child care—such as providing dental care for uninsured Canadians with a family income of less than $90,000 annually, targeted inflation relief, and affordable housing initiatives.
Green economy
Budget 2023 builds on Canada’s transition to a green economy, and introduces various clean-energy programs, partly to compete with new tax breaks and other incentives that were announced in the United States last year.
Labour market
Budget 2023 is focused on strengthening Canada’s labour market, and introduces measures to increase skilled trade workers, expand training and innovation programs, and support employee ownership trusts.
In addition, Budget 2023 invests in Canada’s national defense totaling more than $55 billion over 20 years, builds progress towards Indigenous reconciliation, cuts federal travel and reduced outsourcing, and introduces measures to help ensure a fair tax system.
Download our full analysis of Budget 2023 here.
Our tax advisors provide insights on key tax measures in Budget 2023, detailing areas of interest for you and your business.
The information contained herein is general in nature and is based on proposals that are subject to change. It is not, and should not be construed as, accounting, legal or tax advice or an opinion provided by Doane Grant Thornton LLP to the reader. This material may not be applicable to, or suitable for, specific circumstances or needs and may require consideration of other factors not described herein.
