Accounting Services, Vancouver

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  COVID-19 –  What to Expect When You Visit Our Office Our staff have been working with clients remotely, and have been successful conducting meetings by phone, or answering questions via email. However, if it is necessary for you to have an in-person meeting & come in to our office, the following safety measures are in place. You must have an appointment to enter our office please. If you do not, please call (604) 985-0123 prior to entering. This is to ensure your safety and the safety of our staff. Guests will be asked to bring their own face mask…
CRA Hacker Issues We have been aware of CRA hacker issues, and we are following the information provided very closely.  Recently, thousands of CRA accounts were hacked, and valuable personal information stolen. The hackers went into accounts and changed bank account information, applied for government benefits (such as CERB), etc. CRA has reported that the breach has been “resolved” but that there are many accounts that were impacted.  If you have any questions regarding your CRA account, check your CRA My Account to make sure there are no noticeable changes or errors. Contact CRA if you are concerned about a…
  New Tax Filing & Payment Deadlines There is still time to file your taxes. Cahill CPA is still working on personal returns for new & existing clients, ensuring our clients avoid any late penalties.  CRA is further extending the payment due date for 2019 individual tax returns and 2019 or 2020 corporation, or trust returns. They have also extended the date for instalment payments. The new extended deadline has changed from September 1, 2020, to September 30, 2020. ***According to CRA, some taxpayers may have received a Notice of Assessment that says the deadline for payment is April 30, 2020 or September 1, 2020, which is now…

Working from Home?

July 23, 2020
Working from Home? Working from home? You might be eligible for deductions on next year's tax return. Many CPA's are trying to determine what CRA will do with the "home workspace deduction" and whether more Canadians will be eligible, even if they don't meet the 50% working from home requirement. This is a great time for our clients to save any receipts from items they purchase for working from home- as well as ensure there is documentation from your employer on your terms of working from home. For more information on what you can claim- see the below link from…
Important Benefit & Credit Payment Dates Wondering if you missed an important benefit or credit from CRA? It’s always important to check your account regularly, and keep track of benefits as they can sometimes be missed by CRA.  Canada Child Benefit (CCB) typically is paid on the 20th of each month. If you do not receive it within 5 business days, you should contact CRA. GST/HST Tax Credit is paid 4 times a year, and the dates are as follows:  January 3, 2020 April 3, 2020 July 3, 2020 October 5, 2020 *Note- due to COVID-19, there was a one-time…
Digital News Subscription Tax Credit Do you subscribe to a digital news subscription? If so, you could be eligible for a tax credit! In 2019, CRA rolled out a “digital news subscription tax credit” which, according to the CRA website, is: a non-refundable tax credit for amounts paid by individuals to a qualified Canadian journalism organization (QCJO) for qualifying subscription expenses after 2019 and before 2025. This digital news tax credit is applicable for up to $500 worth of subscription fees for digital news outlets. While you can only use it to save up to $75, it’s still worth applying…
CESB, CERB, and....more   CRA recently created an easy questionare to determine if you are eligible for financial support... see link here. https://covid-benefits.alpha.canada.ca/en/start  This an easy survey, 10 questions in total, and only takes 1-2 minutes. It will then list any benefits you "may" be eligible (and also lists which ones you are NOT eligible for as well).  For information on the Canada Emergency Student Benefit- CESB- see link here. https://www.canada.ca/en/revenue-agency/services/benefits/emergency-student-benefit.html For an ongoing list of changes to taxes & benefits due to Covid 19, see link here. https://www.canada.ca/en/revenue-agency/campaigns/covid-19-update.html  

Back in the Office

June 28, 2020
  Back in the Office  Business is slowly getting back to normal here at Cahill CPA, and we've complied with all the necessary safety requirements to gradually return to the office. Our staff are working both from home & in the office, and our administrative staff are all in office to help with any client needs. We ask that you call our office before coming in, to minimize the amount of people in the space at one time. We have added plastic safety guards at the front desk, as well as sanitizer at every desk & touch point. Our staff…

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