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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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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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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.
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Budget 2023 Summary: Prince Edward Island Budget 2023
Our tax advisors highlight key insights from PEI Budget 2023. Read our full summary.
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Updates for creditors, limited partners, investors and shareholders.
Advisory Four ways to boost your whistleblower program's effectiveness
Whistleblower program is an affordable fraud detection tool. There are four ways to ensure your whistleblower program effective.
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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... See Overview
ASPE Sec. 3041 Agriculture Understanding and applying the new ASPE Section 3041 AgricultureThe Canadian Accounting Standards Board (AcSB) has released new guidance on recognizing, measuring and disclosing biological assets and the harvested products of bio assets.
Tax alert Agricultural Clean Technology ProgramThe Agricultural Clean Technology Program will provide financial assistance to farmers and agri-businesses to help them reduce greenhouse gas (GHG) emissions.
Tax alert ACT Program – Research and Innovation Stream explainedThe ACT Research and Innovation Stream provides financial support to organizations engaged in pre-market innovation.
Tax alert ACT Program – Adoption Stream explainedThe ACT Adoption Stream provides non-repayable funding to help farmers and agri-business with the purchase and installation of clean technologies.
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... See Overview
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... See Overview
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... See Overview
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Real estate and construction 2023 real estate outlook: A year of cautious optimism
As the Canadian economy confronts conditions not seen in decades, the real estate industry is challenged with an uncertain landscape in 2023.
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... See Overview
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.
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Professional services firms face a dual challenge: anticipating and managing change not only for your clients, but also for your business. In today’s... See Overview
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Ontario introduces new rules
On November 14, 2018, the Ontario government published its long-awaited regulations for the licensing and operation of private cannabis stores in the province. The regulations are strict, keeping with the government’s stated objective of “protecting children and youth, keeping communities and roads safe, and combating the illegal market.” Private retail is anticipated to begin April 1, 2019 under the close oversight of the Alcohol and Gaming Commission of Ontario (AGCO). Ontario is currently the only Canadian province with no ‘bricks and mortar’ stores, private or public. The following are the highlights of the Ontario government announcement.
- The process for individuals and firms to apply for a private cannabis retail store licence will begin on December 17, 2018. Applicants should make haste in preparing their submissions, including securing potential retail sites, assembling personal information of key shareholders and considering how they will comply with all federal and provincial regulations.
- Each store must be a minimum distance of 150 metres (approximately 500 feet) from any school, including private and First Nation schools off-reserve.
- Retailers will not be permitted to allow anyone under the age of 19 to purchase cannabis or even enter their stores, even if they are accompanied by an adult.
- Retail storefronts can only be stand-alone stores; in other words, the store must be enclosed by walls separating it from other commercial establishments or activities. Online retail sales will continue to be delivered by the government-run Ontario Cannabis Store website.
- All retail employees will be required to complete approved training to ensure that any individual who works in the cannabis retail market is trained in the responsible sale of cannabis. The level of employee training is significant and should not underestimated.
- Applicants will be denied a licence if they possess a criminal record, including cannabis-related criminal offences, nor can they be a member of or associated with organized crime. Importantly, illegal cannabis retailers (i.e. dispensaries) that were operating after October 17, 2018 are not eligible for cannabis retail licences.
- No one operator can own or run more than 75 stores. Licensed producers (LPs) will be limited to one store at their growing facility (e.g. a farm gate store).
- A company is not eligible for a cannabis retail licence if it is more than 9.9 percent owned or controlled by one or more licensed producers or their affiliates. This restriction applies whether the LP’s ownership of the corporation is direct or indirect. These regulations will make it difficult for some LPs that currently operate or own a share of retail stores in other provinces.
- Finally, operators must be aware of and comply with comprehensive and strict regulations (per Health Canada and Bill C45) around the availability of cannabis formats (only flower/bud, oil and seeds are currently allowed for sale), product branding and promotion, and the handling of cannabis products in retail stores.
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