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Business as Usual

Posted on , Updated: by Graham Scott Enns  |  Posted in Community, Graham Scott Enns, News, Tax
On April 19, 2023, the Public Service Alliance of Canada entered into a general strike. CRA services may be partially or fully disrupted, or they may not be disrupted at all. For more information about the strike and affected services, please see more information here: https://www.canada.ca/en/revenue-agency/corporate/about-canada-revenue-agency-cra/collective-bargaining/labour-disruptions-impact.html
During this time, services at Graham Scott Enns LLP will continue as usual. The tax deadline has not been extended past the May 1 deadline at this time. Our staff are working diligently to provide our clients with the services expected despite any challenges that we may encounter related to these disruptions.
If you have any questions or concerns regarding your personal taxes, please reach out to your accountant and we would be more than happy to help.

Additional Office Hours – Tax Season 2023

Posted on , Updated: by Graham Scott Enns  |  Posted in Community, Graham Scott Enns, News, Tax
As we get closer to the end of personal tax season, we have added additional office hours to allow our clients to pick up returns or drop off information. In addition to our regular business hours, we will be open as follows:
Saturday April 22nd – 9:00 a.m. to 12:00 p.m.
Wednesday April 26th – open until 7:00 p.m.
Saturday April 29th – 9:00 a.m. to 12:00 p.m.

2023 Federal Budget Commentary

Posted on by Graham Scott Enns  |  Posted in News

Highlights of the March 28th Federal Budget Commentary Include:

A. Personal Measures

    • Modifications to the alternative minimum tax regime focused on high-income individuals.
    • A one-time grocery rebate equal to two quarterly GST/HST credit payments.
    • Additional flexibility and possibilities with Registered Disability and Registered Education Savings Plans were introduced.

B. Business Measures

    • Modifications to the intergenerational business transfer rules to set requirements for activity by the children in the business and the transfer of control, equity ownership and management from the parents to the children.
    • Introduction of the employee ownership trust structure to provide a mechanism for business owners to transfer ownership in their private corporations to employee groups.
    • Several investment tax credits and other incentives were introduced or modified to encourage investment in clean energy.

C. International Measures

    • Confirmation of the government’s intention to introduce legislation implementing the income allocation rule and a domestic minimum top-up tax applicable to Canadian entities of multinational enterprises consistent with the ECD’s BEPS initiatives.

D. Sales and Excise Tax

    • Increasing the air traveler’s security charge, limiting increases to alcohol excise duties for one year and adjusting the cannabis excise duty remittance frequency.

E. Other Measures

    • New income-tested dental care program for uninsured Canadians.

F. Previously Announced Measures

    • Intention to proceed with previously announced measures, including those related to excessive interest and financing expenses limitations; reporting rules for digital platform operators; extension of the residential property flipping rule to assignment sales; substantive Canadian-controlled private corporations; the mandatory disclosure rules; the electronic filing and certification of tax and information returns; and GST/HST changes in respect of cryptoasset mining.

 

Read the full article below.

Commentary on the Federal Budget 2023

GSE Attends Night of Heroes 2023

Posted on by Graham Scott Enns  |  Posted in Community, Graham Scott Enns, News

Last night, GSE Staff and Partners attended the 31st Annual Night of Heroes, hosted by Community Living London! It was a fantastic night full of fun and fashion to celebrate an incredible cause and incredible members of our community! It was great to get back together in person, and support all of the incredible Heroes!

Aylmer Office Back Open!

Posted on by Graham Scott Enns  |  Posted in Community, Graham Scott Enns, News

We are happy to announce that we are opening our doors to our clients in Aylmer once again! Thank you to everyone for understanding during the difficult time, and sorry for any inconvenience that this has caused!

Aylmer Office Closed!

Posted on , Updated: by Graham Scott Enns  |  Posted in Community, Graham Scott Enns, News
Due to a fire overnight in downtown Aylmer, the Aylmer office will be closed today as emergency crew work to clear the area.
We will post additional information when it becomes available, including when we will be re-opening to the public.
Sorry for any inconvenience this may cause, and stay safe!

Women in Agriculture Celebration

Posted on by Graham Scott Enns  |  Posted in Community, Graham Scott Enns, News

To celebrate International Women’s Day, Jennifer Buchanan (Partner at GSE) and Breanna Reid (Manager at GSE) attended the Women in Agriculture Celebration event held at the Elgin County Building in St. Thomas on March 8, 2023. The evening was full of empowerment and connection, and it was an inspiring way to recognize and celebrate female agricultural business owners in our local community! Thank you to all of the great speakers and to St. Thomas & District Chamber of Commerce and Elgin County Economic Development and Tourism for hosting this wonderful event!

ntTourisim for hosting this wonderful event!

Special Edition – Underused Housing Tax Newsletter

Posted on , Updated: by Graham Scott Enns  |  Posted in News, Tax

Highlights In This Issue:

  • This Newsletter is an updated version of the previous Underused Housing Tax (UHT) special released earlier this month.
  • 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

Posted on by Graham Scott Enns  |  Posted in News, Tax

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!

Posted on , Updated: by Graham Scott Enns  |  Posted in Community, Graham Scott Enns, News

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!