Accounting Services, Vancouver

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Rental Properties & "Change in Use"Real-Estate. Markets. Investment properties. Rental properties. Mortgages. Interest Rates. SO many hot topics right now regarding the buying and selling of properties. As accountants, we answer a lot of questions from clients regarding real estate. One of the most complicated topics is “change in use”- in simplest terms, when you are moving OUT of a property and converting it to a rental, or moving back IN to a property that was previously a rental. There is a combination of reporting requirements, as well as tax implications, that you would want to discuss with your accountant. These “change…
  Rental Properties & "Change in Use" Real-Estate. Markets. Investment properties. Rental properties. Mortgages. Interest Rates.  SO many hot topics right now regarding the buying and selling of properties. As accountants, we answer a lot of questions from clients regarding real estate.  One of the most complicated topics is “change in use”- in simplest terms, when you are moving OUT of a property and converting it to a rental, or moving back IN to a property that was previously a rental. There is a combination of reporting requirements, as well as tax implications, that you would want to discuss with…
BC Elections and Your Business North Vancouver Chamber recently wrote about the BC elections, and how candidates are tackling the issues facing businesses here on the North Shore. They included information regarding what COVID related issues were the most significant for businesses, and what the top election issues were for businesses. The candidates unedited responses to five important business related questions can be found on the North Vancouver Chamber website here.    Source: North  Vancouver Chamber: "Meet Your Candidates" https://www.nvchamber.ca/north-vancouver-meet-your-candidates-bc-election-2020/
  Blueshore Financial COVID19 Grant We love Blueshore! Blueshore Financial has been a great business connection for us here locally in North Vancouver. Recently, Blueshore Financial contacted us, and generously provided us with a grant. They offered grants to help local companies restart their businesses as they adjusted to meet the impacts of COVID19.  This grant enabled us to purchase important safety supplies for our staff & outfit our office with the necessary protection to continue serving our clients.  According to their website, Blueshore Financial is a “designated Caring Company by the Canadian Centre for Philanthropy and a proud member…

CERB to CRB

September 25, 2020
  CERB to CRB Earlier this week, Canadians received the news that the Canada Recovery Benefit (CRB) would be increased to the same level as the Canada Emergency Response Benefit (CERB). CERB will end soon, and recipients will either need to transition to Employment Insurance (EI), or look to the CRB for financial support if eligible.  According to a recent article:  “The Canada Recovery Benefit will help Canadians who stopped working due to COVID-19 but do not qualify for EI and Canadians who continue to have their employment or self-employment income reduced by 50 per cent or more due to…
  Canadian Financial Assistance During the Pandemic  We are here to support you however we can, and we are staying up to date on all the benefits & financial assistance available to Canadians during the pandemic.  Below is a link to a very straightforward questionnaire offered by CRA, that allows you to see what benefits you might be eligible for. Many of our clients are unsure of what they can apply for, and what is even available to them, so we hope that this might be a useful tool to get started! The below link is for individuals seeking financial…

Instalment Payments

September 11, 2020
Instalment Payments We've received a lot of phone calls & emails from clients regarding upcioming instalment payments. Below we have included some of the information from Canada Revenue Agency regarding instalment payments, calculator, reminders, etc.  Instalment Reminder Received in August 2020 If you receive an instalment reminder in August 2020, you can choose to reduce or not pay further instalments for 2020 if you meet one of the following conditions: The instalments you already paid this year will cover your estimated 2020 net tax owing If you only received an instalment reminder in August and the reminder does not mention…
Supporting Canadians Through the Next Phase of the Economy Re-Opening According to the Canada Revenue Agency, there are changes to the support for businesses in Canada. Below are the updates  according to CRA, and a helpful link to all the detailed information.  Summary of temporary measures to help Canadians access EI benefits more easily 120 hours of work required to qualify Minimum benefit rate of $400 per week At least 26 weeks of regular benefits According to the North Vancouver Chamber, some of the important changes for local businesses includes: Simplify EI applications Extend the Canada Emergency Response Benefit (CERB)…

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