GCG's Business Plan
After 1 yr of being a sole proprietary company. GCG was able to change after its closure to a Non-Profit Organiztion.
What does this mean for everyone?
As of March 12, 2021
Ontario is updating rules for not-for-profit corporations under the Not-for-Profit Corporations Act (ONCA), which is not yet in force.
When it does come into force it will:
- simplify the incorporation process, making it easier and more efficient
- clarify rules for governing a corporation and increase accountability
- clarify that not-for-profit corporations can earn a “profit” through commercial activities (e.g., selling T-shirts) as long as it is reinvested to support the corporation’s not-for-profit purposes
- enhance members’ rights and outline actions they can take if they believe directors and officers are not acting in the corporation’s best interest
- give members greater access to financial records
Members include one or more parties holding the ownership of that company.
As of March 12, 2021
GCG's expenses are now matched and is paying for itself through support of selling regions.
Therefore any profit from here on in, will go to a separate account to act as capital for the company,
to provide better services and upgrades.
In other words its paying for itself now, and we are on our way to being financially secure as we sell more land.
What other benefits is there having to start over?
Because we are a new company again, we do not have to charge taxes on our members like we once did.
According to Ontario you are exempt from the GST/HST – that is, no GST/HST applies to them. This means that you do not charge the GST/HST on these supplies of property and services, and you are generally not entitled to claim input tax credits on property and services acquired to provide these supplies. Generally, you cannot register for the GST/HST if your business provides only exempt supplies; one exception is if you are a listed financial institution resident in Canada.
The following are examples of exempt supplies:
- a sale of housing that was last used by an individual as a place of residence;
- long-term rentals of residential accommodation (of one month or more) and residential condominium fees;
- most health, medical, and dental services performed by licensed physicians or dentists for medical reasons;
- child care services, where the primary purpose is to provide care and supervision to children 14 years of age or under for periods of less than 24 hours per day;
- most domestic ferry services;
- legal aid services;
- many educational services such as:
- courses supplied by a vocational school leading to a certificate or a diploma that certifies the ability of individuals to practice or perform a trade or a vocation; or
- tutoring services made to an individual in a course that follows a curriculum designated by a school authority;
- music lessons;
- most services provided by financial institutions such as lending money or operating deposit accounts;
- the issuance of insurance policies by an insurer and the arranging for the issuance of insurance policies by insurance agents;
- most property and services provided by charities and public institutions; and
- certain property and services provided by governments, non-profit organizations, municipalities, and other public service bodies including municipal transit services and standard residential services such as water distribution.
In other words we are in our rights to not have to charge our members taxes.
Always remember one thing.
GCG was a successful business.
Roddie Macchi is a successful business man in real life.
GCG never lost nor got behind on any monies to anyone or any expenses.
GCG maintained being the cheapest grid for regions and was successful at it for 7 yrs straight.
GCG would still have kept going and do just as well,
if not for Terry Ford owner of digiworldz shutting us down deliberatley sabotaging GCG.
Now we are back again, and will be thriving soon enough just like before without worry of any saboteur.