Prime Minister Mark Carney announces support for Canada’s lumber industry citing heavy reliance on US exports and vulnerability to trade policies.
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Financial reporting and accounting advisory services
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.
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Accounting Standards for Private Enterprises
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.
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International Financial Reporting Standards
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.
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Accounting Standards for Not-for-Profit Organizations
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.
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Public Sector Accounting Standards
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.
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Tax planning and compliance
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.
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Research and development and government incentives
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.
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Indirect tax
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.
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US corporate tax
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.
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Cross-border personal tax
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.
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International tax
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.
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Succession & estate planning
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.
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Tax Reporting & Advisory
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.
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Transfer pricing
Recognized as a leader in the transfer pricing community, our award-winning team can help you expand your business beyond borders with confidence.
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Transactions
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.
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Restructuring
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.
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Forensics
Market-driven expertise in investigation, dispute resolution and digital forensics
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Cybersecurity
Viruses. Phishing. Malware infections. Malpractice by employees. Espionage. Data ransom and theft. Fraud. Cybercrime is now a leading risk to all businesses.
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Consulting
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.
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Creditor updates
Updates for creditors, limited partners, investors and shareholders.
Canadian malls are shifting from retail hubs to mixed‑use community centres, blending housing, offices, services, and experiences to drive daily foot traffic.
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Governance, risk and compliance
Effective, risk management—including governance and regulatory compliance—can lead to tangible, long-term business improvements. And be a source of significant competitive advantage.
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Internal audit
Organizations thrive when they are constantly innovating, improving or creating new services and products and envisioning new markets and growth opportunities.
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Certification – SOX
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.
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Third party assurance
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.
Updated February 17, 2021:
The CUSBRF application for the $5,000 PPE grant is reopening to all provinces on February 16, 2021 at 1:00 p.m. EST. Businesses that have already applied for the CUSBRF are asked not to submit a second application.
The Canada United Small Business Relief Fund is providing Canadian businesses across different sectors and industries with grants of up to $5,000 to offset the cost of expenses businesses have incurred due to COVID-19. These costs include the purchase of personal protective equipment (PPE), adjustments to office space, and development of web/e-commerce capability.
Who is eligible for the CUSBRF
Although CUSBRF is managed by the Ontario Chamber of Commerce (OCC) on behalf of the national Chamber network, applicants do not need to be members of the OCC to qualify. Applications are open to small to medium-sized companies in every part of the country that:
- Have between $150,000 and $3 million in annual sales
- Have up to 75 employees
- Are for-profit or not-for-profit organizations (although charities, government organizations, municipalities and the Chamber of Commerce network are not eligible)
- Are incorporated, or operating as a sole proprietor/partnership, in Canada as of March 1, 2020
- Have $1 million of commercial general liability insurance
- Have been in operation after September 1, 2020
Priority applicants for consideration will include businesses owned by Indigenous people, women, visible minorities, LGBTQ2+ and persons with disabilities.
What expenses are eligible for the CUSBRF
All eligible expenses must be incremental and a direct result of adjusting operations for COVID-19 safety guidelines. Expenses directly related to the categories below are eligible for reimbursement under the program if purchases were made no earlier than March 15, 2020.
- Purchase of personal protective equipment (PPE)
- Renovation of space to adhere to re-opening guidelines
- Enhancement of website / developing e-commerce capability
The following costs are ineligible:
- Taxes
- Consulting fees
- Business plans
- Inventory costs
- Employee wages
- Existing operating costs
- Office furniture
- Laptops, headphones, printers, etc.
- Third party delivery transaction fees
- Renovations not required for social distancing
- Social media advertising, etc.
- Items purchased for resale
- Recurring subscriptions fees/services implemented pre-COVID-19
- General cleaning services
How to apply for the CUSBRF
Starting on October 26, 2020, qualifying small businesses can submit new applications online through the Ontario Chamber of Commerce. Only one application is allowed per ownership group. Organizations are being asked to explain the impact COVID-19 has had on operations.
Applicants must attach all necessary receipts and invoices, accompanied with proof of payment, with the application. Applicants must also submit the company’s sales tax registration document or a recent sales tax filing and one of the following documents:
- Proof of business registration
- Business license
- Articles of incorporation or letters patent
- For partnerships: Articles of incorporation or letters patent for each corporate partner
Applicants must also agree that their names and level of funding may be published and that they will participate in marketing efforts through the Royal Bank of Canada, the Government of Canada and the OCC.
As this is the second round of funding being made available, applicants who have already submitted an application for the CUSBRF are being asked not to submit a second application.
Additional information
Additional details can be found on the Ontario Chamber of Commerce’s CUSBRF page.
For further information on programs and recent updates, visit our COVID-19 Hub page.
We're here to helpWe understand that you want to be agile and responsive as the situation unfolds. Having access to experts, insights and accurate information as quickly as possible is critical—but your resources may be stretched at this time. We’re here to support you as you navigate through the impacts of coronavirus on your business and your investments. |
