Micheal Simpson, CPA, CA
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Looking cautiously round, to
ascertain that they were not
overheard, the

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This I have produced as a
scantling of Jack’s great elo-
quence and the force

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With what mingled joy and
sorrow do I take up the pen
to write to my dearest

Author Archive

GMSPC Benefits from Rhapsody Strategies Professional Coaching

Since the start of 2019, GMSPC has experienced a substantial period of positive growth, and there are no plans to slow down any time soon.

In January, the GMSPC team consisted of eight employees. As we near the 30 employee mark, it is necessary for GMSPC to undergo some changes to ensure our future success and continued growth. Change is uncomfortable and is not easy for everyone. That is where Eric Deschamps from Rhapsody Strategies Inc. comes into the equation.

On Wednesday, September 18th, Eric Deschamps joined Team GMSPC at Camelot Golf and Country Club to train our team on how to achieve success best and cope with change. Eric helped us set goals for the future of the firm and how we, as a team, can best accomplish these goals.

One significant change that we are ecstatic to announce is that our team will be relocating to a new east-end office in early 2020.

Thank you to Eric Deschamps and Rhapsody Strategies!

GMSPC Attends the 8th Annual Christie Lake Kids Golf Tournament

On August 14, 2019 Daniel Faubert, GMSPC’s Director of Marketing and Business Development, joined Brad Ezard from Keynote Search, Tom Rankin from Lecompte Electric, and Shah Khosraviani from Environment & Climate Change Canada, at the 8th Annual Christie Lake Kids Golf Tournament at Emerald Lake Golf Club.

An estimated 15% of children and youth in Ottawa live in a low-income household, which amounts to over 32,000 young people across the city. Christie Lake Kids helps these young people “build essential skills and become more resilient – capable of coping and learning despite adversity in their lives.” Christie Lake Kids allows more than 600 kids from low-income families to attend after-school and weekend programs like Art, Music and Hockey at inner-city community centres and spend two weeks every year at Christie Lake Camp in Perth. All of their programs are offered free of charge, with all supplies and transportation included!

Between 2012 and 2018, the annual Christie Lake Kids Golf Tournament has raised over $400,000 from supporting golfers, sponsors and volunteers!

Congratulations to Christie Lake Kids, their sponsors and hard working volunteers on organzing another memorable and successful golf tournament.

Is Construction your Primary Source of Business Income?

The CRA is increasing their focus on non-compliance within the construction industry concerning the payment of subcontractors. For most contracting companies to remain compliant with the CRA regulations they must submit T5018 slips.

What is a T5018 Statement of Contract Payments?

A T5018 is an information return which a payor (contractor) must submit to the CRA reporting amounts paid to payee (subcontractor). If you are an individual, partnership, trust, or corporation involved in construction activities that represent 50% of your business’ income-earning operations, you must adequately submit T5018 information returns and slips.

As a construction company who makes payments to or credits a subcontractor (whether by cheque, cash, barter, or offset against an amount owing), ensure you always record the required information necessary to complete your T5018. T5018’s are due six months after your year-end.


There are major penalties for non-compliance!

Construction companies who plan to avoid taxation by concealing payments to subcontractors are committing a criminal offence. If the contractor is caught and criminally charged, they can face fines and a maximum penalty of up to 200% of the tax they tried to avoid.

To learn more contact a GMSPC representative or CLICK HERE

GMSPC Attends Special Event with Rana Chauhan, Chief Investment Strategist of IPC Portfolio Services

On Tuesday (28 May 2019) a few clients and members of the GMSPC team, attended a special event at the Ottawa Hunt and Golf Club featuring IPC Portfolio Services and hosted by Dean Trudeau of OPES IPC Securities Corporation. Rana’s engaging presentation focused on avoiding fear by focusing on the obvious when it comes to your investment portfolio.

Rana Chauhan

Rana’s is responsible for helping financial advisors understand how economic and market events impact their clients’ investments. He achieves this by using “data we have from the past and present with honesty about the unknowable future,” and by not relying “on the use of forecasts, relationships or emotions to guide decisions but to substitute facts, logic and reason.” Rana has travelled the globe in search of the truth concerning the global market – beyond what is said the media. His processes allow him to keep his finger on the market’s pulse and global economic developments.

Rana and IPC Portfolio Services team have a fantastic track record of buying into the right market at the right time – acquiring Facebook stock at IPO, Amazon stock at IPO, Disney stock at the Marvel acquisition, Netflix stock at IPO, and much more.

Rana and Dean concluded the presentation by reassuring their audience not to fear the current dip in the stock market.

Congratulations to IPC on a great event! Your team did exceptionally well, and I’m sure your clients saw the value in your service offering.

GMSPC Attends the Canadian Chamber of Commerce Open House

Last night a few members of our team had the pleasure of attending the Canadian Chamber of Commerce Open House.

Pictured above is the Honourable Perrin Beatty, President & Chief Executive Officer of the Chamber performing a brief speech about his new office space and the construction of it. He was proud to report that the renovation was complete on-time and under-budget.

Their new office, located on the seventeenth floor of 275 Slater Street, not only provides a spectacular view of downtown Ottawa but is equipped with a variety of features which make it an accessible and inclusive workplace for all people. The office was designed with lowered countertops, contrasting floor and wall colours, automatic door openers, and even a relaxation room to help employees with stress reduction.

Thank you to our kind hosts at the Chamber of Commerce for providing us with such an interesting and informative tour of their new workspace.

GMSPC Women Attend Shepherd’s Fashion FUNraiser

On May 7th, a few hardworking women from GMSPC attended the Shepherd’s Fashion FUNraiser in support of the young moms of Youville Centre and their children.

From 6 pm to 9 pm at the Shephard’s Fashion Trainyards location, our annual ladies night out was complete with an exclusive fashion show, wine, appetizers and an opportunity to shop for hours!

10% of Shepherd’s merchandise purchased during the fashion show was proudly donated to the Youville Centre. The event was a success, raising $6,415 in ticket sales alone. What a great night!

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