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

Tax Party 2022

This past Monday marked the end of Personal Tax Season for us at Graham Scott Enns LLP. GSE marked the occasion with our usual end of tax season party. This year, we held our tax party at the wonderful Wildflowers Farm in St. Thomas. It was a great opportunity to socialize outside of the workplace and de-stress after a busy few months. There were lots of games, good food and great company. We’ve missed the opportunity to gather as a large group over the last two years, so we all enjoyed the opportunity to spend time together. A big thank you to Wildflowers Farm for hosting our party!

2022 Federal Budget Commentary

Tax Highlights of the April 7th 2022 Federal Budget Commentary Include:

A.  Personal Measures
B.  Business Measures
C.  International Measures
D.  Sales and Excise Tax
E. Retirement Plans
F.  Charities Measures
G.  Previously Announced Measures

Read the full article below.

Commentary_on_the_Federal_Budget_2022

Congratulations Jonathan!

The Partners and Staff of Graham Scott Enns LLP would like to congratulate Jonathan Zettler on his promotion to Senior Staff Accountant, effective January 1, 2022!

Jonathan started with GSE as a co-op student in 2019. He then started full time a year later, in 2020, and has been an integral part of the GSE team, focusing on bookkeeping and payroll. Jonathan is currently working towards his Payroll Compliance Practitioner certification, where he can continue to put his payroll skills to great use! He is also highly involved in personal taxes, and compilation engagements, as well as a member of our Health and Wellness Committee.

“Jonathan provides excellent client service and is able to provide guidance on payroll, bookkeeping and personal tax questions. Jonathan embodies professionalism, diligence and technical excellence.”

Courtney Vachon, CPA, CGA & Kelly Ward, CPA, CGA

Managers

Congratulations Jonathan of your promotion to Senior Staff Accountant, and best of luck as you take on this new and exciting opportunity!

GSE Attends Night of Heroes!

Last night GSE staff and Partners attended the 30th Annual Community Living London Night of Heroes! It was an inspiring event full of fun and fashion to celebrate an incredible cause!

Although they could not hold the event in person, it was still fun to watch together virtually and support all of the Heroes!

 

Things to Share with Your Accountant

This personal tax season, here are some things to remember to share with your accountant as you may be eligible for related tax credits.

  • Moving expenses (including for university and college students)
  • Child care expenses (including summer camps)
  • Changes to your health or physical abilities that may result in eligibility for the Disability Tax Credit
  • A relative has moved in with you as they require your care and support (i.e. parent, adult child, grandchild)
  • Home renovations completed to make your house more accessible (i.e. wheelchair ramps, grab bars, etc.)

 

The Canada Revenue Agency requires that all income is reported on your personal tax return. Here are some types of income that you want to remember to talk to your accountant about if they apply to you:

  • COVID government benefits received
  • Income and expenses related to “side hustles” (including Uber, AirBnB, etc.)
  • Cryptocurrency transactions
  • Change in use to a property you own (i.e. renting out all or part of your home)

 

Other items to share:

  • Disposition of your principal residence
  • Change in personal status (i.e. married, common-law, separated, divorced)

 

If you are a GSE client, please complete a client questionnaire and bring it in with your personal tax return – it helps us to identify changes in your life that may impact your personal tax return.

The “2021 Personal Income Tax Return Checklist” also identifies further items to consider and share with your accountant.

 

Both documents can be found in our Client Document Library.

https://www.grahamscottenns.com/document-library/

Congratulations Jason!

The Partners and Staff of Graham Scott Enns LLP would like to congratulate Jason Rakowicz on his promotion to Senior Staff Accountant, effective January 1, 2022!
 
Jason started his career at GSE in 2017, when he joined the firm as a co-op student. He started full-time employment in August 2020 and has been a strong member of the team since then! Jason is highly involved in the firm’s Social Committee and Assurance Committee and works on a variety of client engagements across numerous client industries.
 
“Jason has a strong work ethic and continues to build meaningful relationships with our clients, particularly in the industries of non-profit and municipal entities. As a member of the Social committee and the Assurance committee, Jason is heavily involved in the direction of firm’s culture, while also keeping our assurance standards up to date. Jason is a great addition to our senior team.”
 
Blake Gough, CPA, CA
Manager
 
Congratulations Jason on your promotion Senior Staff Accountant, and best of luck as you take on this exciting new opportunity!