Special Edition – Underused Housing Tax Newsletter

Highlights In This Issue:

  • The new Underused Housing Tax (UHT) imposes a 1% annual tax on the value of residential real estate considered to be vacant or underused that is owned on December 31 of each year. The government indicated that the tax would target property owned by non-Canadians; however, the scope of filing requirements extends to many Canadian entities and individuals, including private corporations, and trustees of a trust. The first filings and taxes are due on April 30, 2023.1
  • This summary is intended to be a general guide in determining filing obligations and tax exposure.

Special Edition Underused Housing Tax Newsletter

Tax Tips & Traps – 1st Quarter 2023 – Issue 141

Highlights In This Issue:

  • Tax Tidbits
  • Covid Benefits: Review/Audit Activity
  • Unreported Real Estate Dispositions: Multiple Issues
  • Employee Gifts and Parking: Updated CRA Policies
  • Witnesses For Legal Documents:  Choose them Wisely
  • Canada Dental Benefit:  Support for those with Young Children
  • One-Time Top-Up to the Canada Housing Benefit: Additional Support

Tax Tips and Traps 141, 2023 – 1st Quarter

Congratulations Courtney!

The Partners and Staff of Graham Scott Enns LLP would like to congratulate Courtney Vachon, CPA, CGA, on her promotion to Senior Manager, effective January 1, 2023!

Courtney began her employment at GSE in 2016 after previously working at a national public accounting firm. Courtney provides high quality assurance, compilation and tax compliance services to a wide range of owner managed business clients and not-for-profit organization clients. Courtney is a valued member of our Manager group and is passionate about training and mentoring staff members.

“Beyond Courtney’s work with our clients, she is a leader within our firm and mentors many firm members. Courtney understands that training is integral to our success and ensures she spends the time working with other firm members to achieve high quality work. Courtney is a long-time member of GSE’s Social Committee and, in particular, takes the lead on many of the firm’s charity donation drives during the year – she is a strong supporter of our local community and encourages all of us to do our part!”

Mike Stover, CPA, CA
Partner

Congratulations Courtney on your well-deserved promotion to Senior Manager!

 

Holiday Lunch and Milestone Celebration 2022

On December 19th, 2022, GSE firm members gathered together for a holiday lunch at New Sarum Diner. Partners and staff enjoyed a delicious holiday turkey lunch to bring on the festive spirit. At lunch, GSE had the opportunity to recognize some important career milestones for individual firm members. Please scroll through the photos to view the years of service milestones for each individual firm member that was recognized at the lunch.

As always, we would like to thank the Social committee for organizing the lunch and for New Sarum Diner’s great hospitality!

Happy Holidays Everyone!!

 

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Closed for the Holidays!

GSE will be closed for the holidays the week of December 26th to December 30th.  The St. Thomas office will reopen on January 2nd, 2023 with normal business hours, 8:30am – 5:00pm.  Please note that the doors to the County of Elgin building and drop box are only available 8:30am – 4:30pm daily.

The Aylmer office will reopen on January 2nd, 2023 with normal business hours, 8:30 – 5:00pm.

During the period from December 26th, 2022 to January 2nd, 2023 both offices will be closed to the public with no access to the drop boxes.

 

Seasons Greetings!

Canadian Dental Benefit

Do you have a child under the age of 12? If so, you may qualify for the Canadian Dental Benefit!

This benefit will give eligible families up-front, direct payments of up to $650 a year per eligible child under 12 for two years to help cover the costs of dental care services.

Payments will range between $260 and $650, depending on the adjusted net income. This payment will be tax free, and available for each eligible child, for two periods. The first period is for children under 12 as at December 1, 2022 who had dental care between October 1, 2022 and June 30, 2023.

Full criteria include:

  • Have a child or children under 12 as of December 1, 2022 and are currently receiving the Canada Child Benefit (CCB) for that child;
  • Have an adjusted family net income of less than $90,000;
  • The child does not have access to private dental insurance;
  • Have filed their 2021 tax return; and
  • Have had or will have out of pocket expenses for their child’s dental care services incurred between October 1, 2022 and June 30, 2023, for which the costs are not fully covered or reimbursed by another dental program provided by any level of government.

More information on the Canada Dental Benefit can be found here: Canada Dental Benefit – Canada.ca

NEW HIRE UPDATE! – Heidi Hayes, Junior Accountant

NEW HIRE UPDATE! – Heidi Hayes, Junior Accountant
Graham Scott Enns LLP is pleased to announce that we have added a new member to our GSE team! Heidi Hayes started with the firm October 2022 as a Junior Accountant. Heidi previously completed a co-op term at BDO in British Columbia and brings with her some great experience working on personal tax returns and compilation engagements. Heidi is currently enrolled at Okanagan College and is pursuing her Bachelor of Business Administration degree. Heidi loves to surf, ski and hike. She is looking to pursue her CPA designation post-graduation. We are very excited to have Heidi join our team!
 
Welcome to GSE Heidi!
 
If you would like to learn more about working at GSE, please visit our website, http://www.grahamscottenns.com/about-us/careers/ for more information about our career opportunities.

Christmas Care Donation 2022

Each year the staff and Partners at Graham Scott Enns LLP participate in the annual St. Thomas and area Christmas Care program. GSE staff are encouraged to make donations of food and toys which are matched by the Partners. This year, we were able to raise over $1,000 in toys and food donations which will be distributed to in-need members of our community to help ensure that everyone has a happy holiday season! Thank you to everyone who helped contribute to the Christmas Care drive and thank you to Courtney and the rest of our Social Committee for organizing our participation in this worthy cause!

Employment Opportunities – Accounting Co-op Student

Graham Scott Enns LLP is looking to hire an accounting co-op student for the Spring 2023 work term. If you are looking for a new challenge and are excited to join a team of hard-working professionals, we would love to hear from you! Please refer to http://www.grahamscottenns.com/about-us/careers/ to learn more about this and other exciting employment opportunities!