These are photos of some of the industries we have the privilege to serve.
Author: External Author | | Categories: Accounting Services , QuickBooks Accounting , Small Business Accounting , Tax Accountant , Tax Services
Original Article Source Credits: The Motley Fool , https://www.fool.ca/
Article Written By: Ambrose O'Callaghan
Original Article Posted on: November 10, 2020
Link to Original Article: https://www.fool.ca/2020/11/10/warning-3-ways-the-cra-can-take-away-your-crb-payments/
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Author: External Author | | Categories: Accounting Services , Corporate Tax Services , QuickBooks Accounting , Tax Accountant , Tax Planning , Tax Services
Original Article Source Credits: The Globe and Mail Inc , https://www.theglobeandmail.com/
Article Written By: BRENDA BOUW
Original Article Posted on: NOVEMBER 2, 2020
Link to Original Article: https://www.theglobeandmail.com/investing/globe-advisor/advisor-news/article-with-tax-audits-increasing-how-can-advisors-help/
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Author: External Author | | Categories: Accounting Firm , Accounting Services , Chartered Professional Accountant , Corporate Tax Services , Financial Statement Preparation , Income Tax Preparation , Personal Tax Services , QuickBooks Accounting , Small Business Accounting , Tax Accountant , Tax Planning , Tax Services
Original Article Source Credits: Canada , https://www.canada.ca/
Article Written By: NA
Original Article Posted on: 2020-10-19
Link to Original Article: https://www.canada.ca/en/revenue-agency/services/benefits/apply-for-cerb-with-cra.html
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Author: External Author | | Categories: Accounting Services , Bookkeeping Services , Chartered Professional Accountant , Corporate Tax Services , Small Business Accounting , Tax Accountant , Tax Services
Original Article Source Credits: Advisor's Edge , https://www.advisor.ca/
Article Written By: Rudy Mezzetta
Original Article Posted on: October 9, 2020
Link to Original Article: https://www.advisor.ca/tax/tax-news/feds-score-big-with-extra-funding-of-cras-business-compliance-programs/
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Author: External Author | | Categories: Accounting Firm , Accounting Services , Bookkeeping Services , Income Tax Preparation , Personal Tax Services , QuickBooks Accounting , Small Business Accounting
Original Article Source Credits: Money Sense , https://www.moneysense.ca/
Article Written By: ROMANA KING
Original Article Posted on: JUNE 15, 2020
Link to Original Article: https://www.moneysense.ca/spend/real-estate/vacation-homes/4-strategies-for-passing-on-the-family-cottage/
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Author: External Author | | Categories: Corporate Tax Services , Income Tax Preparation , Personal Tax Services , Tax Accountant , Tax Planning , Tax Services
Original Article Source Credits: RetireHappy , https://retirehappy.ca/
Article Written By: Jim Yih
Original Article Posted on: January 13, 2020
Link to Original Article: https://retirehappy.ca/estate-inheritance-tax/
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Author: External Author | | Categories: Accounting Firm , Accounting Services , Corporate Tax Services , Tax Accountant
Original Article Source Credits: Advisor's Edge , https://www.advisor.ca/
Article Written By: Jordan Press, The Canadian Press
Original Article Posted on: September 18, 2020
Link to Original Article: https://www.advisor.ca/news/industry-news/design-of-post-cerb-benefits-could-change-minister-says/
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Author: External Author | | Categories: Accounting Firm , Accounting Services , Bookkeeping Services , Chartered Professional Accountant , Corporate Tax Services , Financial Statement Preparation , Income Tax Preparation , Personal Tax Services , QuickBooks Accounting , Small Business Accounting , Tax Accountant , Tax Planning , Tax Services
Original Article Source Credits: Financial Post , https://financialpost.com/
Article Written By: Jason Heath
Original Article Posted on: Apr 21, 2020
Link to Original Article: https://financialpost.com/personal-finance/taxes/death-and-taxes-estate-settlement-can-cost-money-time-and-relationships
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Author: External Author | | Categories: Accounting Firm , Accounting Services , Chartered Professional Accountant , Corporate Tax Services , Financial Statement Preparation , Income Tax Preparation , Personal Tax Services , QuickBooks Accounting , Small Business Accounting , Tax Accountant , Tax Planning , Tax Services
Original Article Source Credits: Financial Post , https://financialpost.com/
Article Written By: Jason Heath
Original Article Posted on: Mar 24, 2020
Link to Original Article: https://financialpost.com/personal-finance/taxes/death-and-taxes-how-to-navigate-the-probate-process-to-keep-tax-costs-in-check
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Author: External Author | | Categories: Accounting Firm , Accounting Services , Bookkeeping Services , Chartered Professional Accountant , Corporate Tax Services , Financial Statement Preparation , Income Tax Preparation , Personal Tax Services , QuickBooks Accounting , Small Business Accounting , Tax Accountant , Tax Planning , Tax Services
Original Article Source Credits: CANADA , https://www.canada.ca/
Article Written By: NA
Original Article Posted on: 2020-02-26
Link to Original Article: https://www.canada.ca/en/revenue-agency/news/newsroom/tax-tips/tax-tips-2020/tax-filing-season.html
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Author: Colin Phillips, CPA Professional Corporation | | Categories: Accounting Services , Bookkeeping Services , Tax Planning
1. How will COVID-19 impact your business in the next six months?
The most significant impact of COVID-19 on our business was the necessity to keep up-to-date with the government’s new program implementations. Keeping up-to-date was especially challenging as the requirements and restrictions, as well as timeframes would routinely change. As one example, initially, the government stated that the CEBA could not be used to pay dividends, but CRA removed this prohibition within a week, and consequently, we had to change the advice we gave to our clients.
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Author: Colin Phillips, CPA Professional Corporation |
When the Canada Emergency Response Benefit (CERB) was introduced, the program provided $500/week to a maximum of 16 weeks, running from April to early July. On Monday, Prime Minister Justin Trudeau announced an extension to the CERB program for another eight weeks. The requirement to re-apply every four weeks will remain to confirm the applicant continues to meet the current criteria.
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Author: Colin Phillips, CPA Professional Corporation | | Categories: Accounting Firm , Accounting Services , Bookkeeper , Bookkeeping Services , Chartered Professional Accountant , Corporate Tax Services , Financial Statement Preparation , Income Tax Preparation , Personal Tax Services , QuickBooks Accounting , Small Business Accounting , Tax Accountant , Tax Planning , Tax Services
As accounting and taxation professionals, it is essential for us to keep up to date on the latest taxation, accounting, and financial management trends and find new sources of creative inspiration while staying connected to other professionals.
We use a variety of online and offline sources to keep current on the everchanging taxation rules. These tools allow us to deliver exceptional services to all our clients, ensuring they receive the most up to date information and advice.
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Author: Colin Phillips, CPA Professional Corporation |
Canada Emergency Wage Subsidy (CEWS) Update
CEWS offers employers who qualify, a 75% subsidy of employees wages for up to 12 weeks, retroactive from March 15, 2020, to June 6, 2020.
Applications open for employers applying to CEWS on Monday, April 27, 2020. The application can be made through CRA’s My Business Account, Represent a Client, or a separate online application form (not yet available).
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Author: Colin Phillips, CPA Professional Corporation |
COVID-19 Assistance for STUDENTS
Prime Minister Justin Trudeau today announced $9 billion in assistance for young Canadians, focusing on students. The introduction of the Canada Emergency Student Benefit (CESB) will provide $1,250 a month for eligible students from May to August, which is increased to $1,750 if that student is taking care of someone else or has a disability. The initial details noted that to be eligible for CESB, you had to be:
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Author: Colin Phillips, CPA Professional Corporation |
The Government of Canada recently announced enhancements to the support measures for business:
Canada Emergency Commercial Rent Assistance Program:
The federal government has announced relief measures that many small businesses were hoping for – rent relief. As with other relief measures announced, we did not hear a timeline on when small businesses would see a benefit from these measures. We would hope that the two weeks before rent for May is due would be sufficient time, but have seen other relief measures take longer to be implemented.
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Author: Colin Phillips, CPA Professional Corporation |
COVID-19 – Canada’s Response
We wanted to reach out and touch base on all of the support measures the Government of Canada and Government of Ontario have implemented. This information is the most current as of today. The government is constantly providing additional details and measures which we will try to keep you informed about.
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Author: Colin Phillips, CPA Professional Corporation | | Categories: Accounting Firm , Accounting Services , Bookkeeper , Bookkeeping Services , Chartered Professional Accountant , Corporate Tax Services , Financial Statement Preparation , Income Tax Preparation , Personal Tax Services , QuickBooks Accounting , Small Business Accounting , Tax Accountant , Tax Planning , Tax Services
We are delighted to announce the launch of our new website!
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Author: Colin Phillips, CPA Professional Corporation |
The Canadian government is announcing relief programs daily.
The latest is a 75% wage subsidy for small and medium-sized businesses called the Canada Emergency Wage Subsidy (CEWS). This appears to be enhancing the previously announced 10 percent wage subsidy, which is deductible from the payroll remittance.
They are also offering to guarantee bank loans of up to $40,000 that will be interest-free for one year.
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Author: Colin Phillips, CPA Professional Corporation |
TAX ALERT – Response to COVID-19
The government of Canada has implemented several measures to assist individuals and businesses in these unprecedented times. The official response plan can be found at https://www.canada.ca/en/department-finance/economic-response-plan.html. All information in this letter is current as of today. We will try to pass on new information as updates are available.
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