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, https://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 https://www.grahamscottenns.com/about-us/careers/ to learn more about this and other exciting employment opportunities!

Congratulations 2022 CFE Writers!

Graham Scott Enns LLP would like to congratulate all successful CFE writers on their incredible accomplishment!
We are proud to acknowledge our own successful writers Nick Boyer, Jackson McCully and Jason Rakowicz who have completed this incredible career milestone. Congrats!!

Tax Tips & Traps – 4th Quarter 2022 – Issue 140

Highlights In This Issue:

  • Tax Tidbits
  • Crowdfunding: Taxable or Not?
  • Trusts:  New and Expanded Disclosure Requirements
  • Director Liability:  Is Asking About Source Deductions Enough?
  • Executor:  Whether to Accept this Role
  • GST/HST Input Tax Credits:  Reasonable Expectation of Profit
  • Tips Collected Electronically:  Withholding Requirements

Tax Tips and Traps 140, 2022 – 4th Quarter

Loans of Up to $50,000 to Women Entrepreneurs

Are you an aspiring female or non-binary entrepreneur? If the answer is yes, you may be eligible for a loan of up to a maximum of $50,000 through the Women’s Enterprise Organizations of Canada (WEOC) National Loan Program. Please visit Loan Program – Women’s Enterprise Organizations of Canada (weoc.ca) for more information.

 

Women Entrepreneurship Loan Fund: Women Entrepreneurship Loan Fund (canada.ca)

Women’s Enterprise Organization of Canada: Home – Women’s Enterprise Organizations of Canada (weoc.ca)

Railway City Road Races

The Health and Wellness committee at Graham Scott Enns LLP would like to congratulate and thank everyone who took part in The Railway City Road Races on September 25, 2022. The weather certainly did not cooperate, but as they say, it takes rain to make flowers grow and having the determination to run in the rain certainly builds character. GSE would like to give a special mention to Erin, Riley, Lucas, Emma and Oliver (children of GSE Partners and staff members) who also braved the weather to take part in the event.

 

Tax Tips & Traps –3rd Quarter 2022 – Issue 139

Highlights In This Issue:

  • Tax Tidbits
  • Poker Playing: Hobby or Business?
  • Required Travel: Between Home and Work
  • Principal Residence Exemption: Land in Excess of One-half Hectare
  • Personal Services Business (PSB): CRA Education Initiatives
  • TFSA Overcontribution: Information in Your CRA Online Account
  • CPP Disability Benefit: Following the Doctor’s Advice
  • Shared Custody Arrangements: Impact of School Closures

Tax Tips and Traps 139, 2022 – 3rd Quarter (PDF)

Tax Tips & Traps – 2nd Quarter 2022 – Issue 138

Highlights:

Tax Tidbits
Buying and Selling a Home: Budget 2022
Principal Residence Exemption
CERB/CRB: Eligibility Verification
Estimated Sales by CRA: Audit File Selection and Assessment
Auditing Old Tax Returns: CRA Abilities and Limitations
Money Received from Abroad: CRA Reviews
Digital Adoption Program: Grants, Loans and Professional Assistance

Tax Tips and Traps 138, 2022 – 2nd Quarter