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5 Billion Dollars in EXTRA tax?

August 12, 2019 Written by Jordan Cahill
  BC Businesses: 5 Billion Dollars in EXTRA tax since 2013 Small businesses are feeling it. That's the consensus after a recent report looked into how the tax changes have impacted businesses in BC over the last six years. The Business Council of BC (the BCBC), who did the report, estimated that BC Businesses are paying almost 5 Billion dollars in additional taxes than they were in 2013.  The largest tax increase to businesses- the failed shift to the Harmonized Sales Tax (HST)- which they estimate accounts for about 3 Billion dollars in additional sales tax. The second largest- the…

Canadian Families with Children Under 18

July 23, 2019 Written by Jordan Cahill
  Canadian Families with Children under 18 If you are a Canadian with young children, you may have recently received mail from Canada Revenue Agency (CRA) regarding the Canada Child Benefit (CCB) and the BC Early Childhood Tax Benefit (BCECTB). Wow- that’s a mouthful! Let’s break it down….  The Canada Child Benefit (CCB) A tax-free payment to families with children aged 0-17.This most recent notice included a separate information brochure that stated: “Starting in July 2019, the CCB will be raised for a second time to keep up with the cost of living. That means that this month you may…

A Proposed Idea to Save Small Businesses in Vancouver

July 19, 2019 Written by Jordan Cahill
Saving Small Businesses in Vancouver So, it’s all speculation and “talks” at this point, but did you hear that the City of Vancouver is seeking provincial approval to change the way some small businesses are taxed? This comes as a new initiative to try and address the tax increases that have negatively impacted local small businesses.  According to a recent article in the Globe & Mail, “The plan essentially clears municipalities to reduce the massive property taxes that small businesses, as well as those engaged in the arts, culture and non-profit sectors, can face on potential development.” When giving an…

Update: BC Speculation & Vacancy Tax

July 19, 2019 Written by Jordan Cahill
  Update: BC Speculation & Vacancy Tax Did you ever wonder what came out of that BC Speculation & Vacancy Tax? All the information homeowners had to go online and fill out before the March 31st deadline? Well, the latest reports have come out. More than 12,000 homeowners were required to pay the tax, which was due on July 2nd. The BC Government announced that this tax will deliver more than $100 million dollars "towards British Columbia's housing crisis." According to the BC Government, those paying the tax are made up of: -foreign owners, approximately 38% -satellite families, 27% -Canadians…

We are now officially www.CahillCPA.ca

July 8, 2019 Written by Jordan Cahill
www.CahillCPA.ca To all our clients, we would like to inform you that we are changing our website domain from www.cahillpro.com to www.cahillcpa.ca. This official change will take place on July 11th, 2019. For all future visits to our website, please use the new domain www.CahillCPA.ca. It is available to visit now, and will be used exclusively after July 11th.  For more news/updates such as this, as well as tax & financial information, company & staff news, local events, and more- please connect with us on social media! We love connecting with our clients and their businesses through social media, so please…

Recruitment Agencies & Why to Use One

June 3, 2019 Written by Jordan Cahill
Recruitment Agencies, and Why to Use One! Have you ever used a recruitment agency to either find yourself a job, or find an employee for your company? If so, you’ll probably know about the invaluable resources, expertise, and experience they have to offer when searching for the perfect fit for you or your company. We have had the pleasure of working with Express Employment Professionals for a number of years, and are always impressed with their results! As University students, my wife and I both found great jobs through Express, gaining experience in a variety of fields and positions (and,…

Money Laundering: Experience of a Mortgage Broker

May 21, 2019 Written by Jordan Cahill
  Our friend and mortgage broker Steve Ennis sent out his newsletter this week, filled with some great information regarding the latest politics surrounding money laundering in BC. You’ve probably heard that last week, BC Premier John Horgan finally announced a public inquiry into money laundering in Vancouver. It’s a hot topic in the news, and Steve gives a great breakdown on how this specifically impacts bankers and mortgage brokers. If you’re interested in learning a bit more about this specific side of money laundering, and how the province is working to prevent it, read some of the below quotes…

Where's my Refund?

April 3, 2019 Written by Jordan Cahill
  When will I receive my refund? Another great “frequently asked question” from our clients the past few weeks! If you are expecting a refund from your return, here’s some details about when and how you will receive your refund. According to the Canada Revenue website, individuals should expect to receive their refund (or notice of assessment) within two weeks of receiving your return. Because we file your return online through CRA, this process is faster than the 8 weeks that it takes when you file a paper return. Tip: When you sign up for direct deposit with CRA, you…

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