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Business Excellence Awards We are so honoured to be a finalist in the North Vancouver Chamber Business Excellence Awards in the category of Best Employer. From the North Vancouver Chamber: The North Vancouver Chamber is proud to celebrate local businesses and organizations that go above and beyond in their commitment to business excellence. The Business Excellence Awards is an annual recognition of these successful businesses and their contributions to our economy and passion for the North Vancouver community. We thank you for this nomination, and for being awarded a finalist as Best Employer. We have grown so much as a…

  Effective Productivity In Today’s Rapidly Changing World with Colin Cox Our team participated in a great strategy session with Colin Cox, titled Effective Productivity In Today’s Rapidly Changing World. We all came away with so many great strategies for both our work & our personal lives.  Colin focused on all the many ways we can be more productive in our work day, and we all appreciated that his tips were simple, practical, and easy to implement immediately.  One of the first topics we learned about was hosting effective meetings! The need for having an agenda, being clear on outcomes,…

Tax Instalments for Individuals What is this and why do I have to pay money?! You may be confused with correspondence from CRA regarding tax instalments, so here is a brief rundown of what they are, when they are due, and some frequently asked questions.  What ARE tax instalments?  From CRA: Tax instalments are payments you make throughout the year to cover the taxes you normally pay in one lump sum on April 30 of the following year. You pay these instalments during the year while you are earning the income, similar to how an employer deducts tax directly from…

Tuition Tax Credit If you paid tuition in 2021 for a post-secondary institution in Canada, you might qualify for a tuition tax credit. Our team of accountants can help you determine if you are eligible and how it will impact your return.  Here’s the breakdown: If the student went to a post-secondary school in Canada in 2021, the student is over the age of 16, and you paid tuition fees for the student (yourself, your child, a family member) without being reimbursed, you may be eligible to claim the tuition for a tax credit on your return.  This could be…

  Uncashed Cheques through CRA My Account You might just have money waiting to be cashed! ⁠Quickly see if you have any uncashed cheques from CRA through your CRA My Account. ⁠⁠ Select "Uncashed cheques" in your My Account under related services. ⁠ If you have an uncashed cheque, ask CRA for a duplicate payment by selecting and completing the displayed form. Send the form using the "Submit documents" digital service.⁠⁠It's that simple!⁠  Source: CRA Website Uncashed cheques from the Canada Revenue Agency There are many reasons Canadians may have an uncashed cheque from the Canada Revenue Agency (CRA). For…

  Enhanced Support for Teachers Education and teachers are really important to us here at Cahill CPA- our partner’s wife Crystal Cahill is a teacher herself! We know firsthand how educators spend so much of their own money on their classrooms & for their students, so we wanted to remind you about the refundable tax credit available to teachers. Although it isn’t much, it could make a small difference to your return this year.  Some important changes or points to note:  This was previously 15% of your expenses, and is now 25%. Up to a maximum of $1000.  Even if…

  Update For Home Office Expenses Here’s the breakdown. Basically, if you worked from home this last year due to Covid-19, you may be eligible to claim home office expenses. Good news: the flat rate method is UP this year- meaning you can now claim up to $500 (up from $400).  This is an important expense to discuss with your accountant come tax time, and we can help you determine if you are eligible to claim, how much, and how it will impact your return.  Here are the details from CRA: Changes to the Temporary Flat Rate Method: The temporary…