Graham Scott Enns LLP would like to congratulate all successful CFE writers on their incredible accomplishment!
We are proud to acknowledge our own successful writer, Eduard Aslani, who has completed this incredible career milestone. Congrats Eddy!
Blog | News
Update to Canada’s COVID-19 Benefits: What is expiring?
On October 23, 2021, a number of the Canadian COVID-19 Benefits are set to expire. While a number of new measures will be put in place, the Canada Recovery Benefit (CRB), the Canadian Emergency Wage Subsidy (CEWS) and Canadian Emergency Rent Subsidy (CERS) will be ending this upcoming Saturday.
New measures will be introduced to help replace some of these programs, such as the Canada Worker Lockdown Benefit. More information on the new, and extended benefits will be announced shortly.
Wishing You All The Best
The partners of Graham Scott Enns LLP wish fellow partners Bill Luyks and Megan Siemens along with manager Michael Helder well, as they leave the firm to form a new partnership, Luyks Siemens Helder LLP. While we have all greatly enjoyed working together over the years, the time has come to explore new opportunities to meet our mutual goals of providing excellence and quality in client service.
Clients currently working with Bill, Megan and Mike will be contacted over the coming days and weeks to discuss the best path forward to support their accounting and taxation needs. The change will be effective January 1, 2022.
We thank all our clients for your support during this time of transition and look forward to serving you for many years to come.
Sincerely,
The partners of Graham Scott Enns LLP and The partners of Luyks Siemens Helder LLP
Michael Stover, CPA, CA Bill Luyks, CPA, CA
Robert Foster, CPA, CA Megan Siemens, CPA, CA
James Frederick, CPA, CA Michael Helder, CPA, CA
Michael MacKinnon, CPA, CA
Paul Schneider, CPA, CA
Derek Michell, CPA, CA
Ann Marie Perry, CPA, CA
Garth Howes, CPA, CA
Jennifer Buchanan, CPA, CA
Good Luck CFE Writers
Today marks the most exciting time of year! The annual CFE begins today running for the next 3 days.
Best of luck to all writers this year, we all know the efforts you have put in over the last month of studying.
Trust in your own abilities and process.
Tax Tips & Traps – Third Quarter 2021 – Issue 135
Highlights:
Tax Ticklers
Canada Emergency Rent Subsidy
CRA Collections
Travel Allowances
COVID-19 Medical Expenses
Canada Emergency Response Benefit Repayments
TFSA Excess Contributions
Will and Beneficiary Designations
CRA or Scammer!
Tax Tips & Traps – Second Quarter 2021 – Issue 134
Highlights:
Tax Ticklers
Immediate Capital Asset Write-Off
Canada Recovery Hiring Program
Extended Wage and Rent Subsidies
Beneficial Ownership of Corporations
Rental Properties
COVID-19 Benefits for Individuals
Taxpayer Relief
Guaranteed Income Supplement
2021 Federal Budget Commentary
Tax Highlights of the 2021 Federal Budget Commentary Include:
A. Personal Measures
B. Business Measures
C. International Measures
D. Sales and Excise Tax
E. Electronic Filing, Payments and Certification
F. Previously Announced
Read the full article below.
Personal Income Tax Filing Deadline: April 30, 2021
As of April 8, 2021 there has been no extension to the personal income tax filing deadline of April 30, 2021 (or June 15, 2021 for self-employed individuals). We at GSE are here to assist you in the completion of your tax returns and offer a variety of contactless options in order to facilitate the safe preparation of your returns. If you would like to learn more about these options, please contact a member of our team to determine an option that works best for your personal circumstances.
Congratulations Bill Luyks!
GSE would like to celebrate the success of a hard-working colleague! Bill Luyks, CPA, CA, who is a partner in our Aylmer office, has been recognized by Jackson McCully as an Outstanding Brock Co-op Supervisor!
Jackson has been a co-op with GSE for all of his co-op terms and has nominated Bill for providing him with a great co-op experience over this time. Bill is a helpful mentor, who supports staff with their career goals by providing them with opportunities to learn and develop new skills. Bill is well known for taking time out of his busy schedule to discuss workload, provide feedback, and catch up on personal news.
Bill’s strong mentorship and support have helped to reinforce Jackson’s goal of becoming a Chartered Professional Accountant as well as his successful transition into public accounting.
We wish to congratulate Bill and all other recipients on this well-deserved award!
Check out all of the recipients here: Co-op Recognition and Awards – Co-op, Career and Experiential Education (brocku.ca)
Highly Affected Sectors Credit Availability Program (HASCAP) Guarantee
In response to the difficulties faced by the hardest hit businesses due to COVID-19, BDC in conjunction with the Government of Canada, has developed the Highly Affected Sectors Credit Availability Program (HASCAP) Guarantee. This program will provide low-interest loans ranging from $25,000 to $1,000,000 to cover operational cash flow needs.
To qualify, businesses must:
- Be Canadian based.
- Have been financially stable and viable pre-COVID.
- Have received payments either from the Canadian Emergency Wage Subsidy (CEWS) or the Canada Emergency Rent Subsidy (CERS) by demonstrating a minimum 50% revenue decline for at least 3 months within the last 8-month period prior to the HASCAP application.
- The loan will be used to continue or resume operations.
- The loan cannot be used to pay or refinance existing debts.
- Minimum risk ratings will apply, varying by size of new loan.
- You can apply for a loan under the HASCAP Guarantee for each legal entity you own, up to a maximum combined amount of $6.25 million (all legal entities combined).
- Other conditions may also apply.
Please see the BDC website for more details, including all eligibility requirements: https://www.bdc.ca/en/special-support/hascap?ref=shorturl-hascap
HASCAP will be available until June 30, 2021. If you think this program would be the right opportunity for your business, you are encouraged to apply.