Neil Evans of Nevcon Accounting Services is pleased to announce that he has completed the Certificate in Individual Tax Returns offered by the Chartered Professional Accountants (CPA) of Ontario.

This course focused on the preparation of basic, intermediate and some advanced level Canadian individual tax returns using different kinds of tax preparation software. The course allows existing tax practitioners such as Nevcon to enhance their tax preparation skills, covering all of the typical aspects of Canadian individual tax returns that would usually be applicable, including resident return, part year returns (departure and arrival), and non-resident return.

Nevcon makes it a priority to keep up-to-date on professional skills and industry changes that affect and can benefit clients and colleagues.

Nevcon Accounting is pleased to provide the following links to articles, analyses and more, to help you learn more about the 2024 Canadian Federal Budget, delivered April 16, 2024.

• Budget 2024: Fairness for every generation
  (Government of Canada)
• Budget 2024 tries to sell youth a more affordable life with billions in spending
  (Global News)
• 2024 federal budget’s key takeaways: Housing and carbon rebates, students and sin taxes
  (CBC News)
• From housing initiatives to a disability benefit, how the federal budget impacts you
  (CTV News)
• Federal budget 2024: The full highlights
  The Trudeau government’s latest plan includes tax hikes for the wealthy, $53-billion in new spending over five years and measures to tackle the housing crisis
  (The Globe and Mail)
• Canada’s budget 2024: More spending, higher capital gains taxes, bigger deficits
  (National Post)
• Federal budget announces measures for open banking, predatory lending and bank fees
  (Toronto Star)
• CPA Canada is pleased to offer its views on priorities for the federal budget as well as expert post-budget analysis and commentary.
  (Chartered Professional Accounts (CPA) Canada)

Nevcon Accounting is pleased to provide the following links to articles, analyses and more, to help you learn more about the 2022 Federal Budget, delivered April 7, 2022.

• Budget 2022: A Plan to Grow Our Economy and Make Life More Affordable
  (Government of Canada)
• Budget 2022: Feds eye growth with $31B in net new spending
  (Global News)
• Federal budget moves ahead with new tax on big bank and insurer profits
  (CBC News)
• Budget 2022 unveils billions in ‘targeted’ new spending, deficit projected at $52.8B
  (CTV News)
• Federal budget earmarks $56-billion in new spending, higher taxes, but short on growth plans
  (The Globe and Mail)
• Provincial, municipal governments praise 2022 federal budget for its focus on the housing crisis
  (The Globe and Mail)
• Liberals to ‘go further’ targeting high-income earners with budget’s new minimum income tax
  (National Post)
• Budget promises lower deficit, but more spending on housing, defence and social programs
  (Toronto Star)
• Complete coverage of the 2022 federal budget including tax highlights, an insightful federal budget analysis piece, and a webinar to learn about the most important tax changes being announced this year.
  (Chartered Professional Accounts (CPA) Canada)

Nevcon Accounting is pleased to provide the following links to articles, analyses and more, to help you learn more about the 2021 Federal Budget, delivered April 19, 2021.

• Canada’s federal budget: A financial expert breaks it down
  (Global News)
• Highlights of budget 2021: Billions for green economic growth, healthier Indigenous communities
  (CBC News)
• How the 2021 federal budget impacts you
  (CTV News)
• Federal budget 2021: For this generation of Liberals, government’s role is to do everything within its reach
  (The Globe and Mail)
• Federal budget 2021 by the numbers: From a $15 minimum wage to $10 a day child care
  (National Post)
• Money for seniors and vaccine production. Highlights of the federal budget
  (Toronto Star)
• Federal budget 2021: Program extensions, new hiring subsidy for small business
  (Ottawa Business Journal / Canadian Press)
• Federal budget 2021: What you need to know
  (Advisor’s Edge)
• What The Budget Means For Canadian Women
  (Chatelaine)
• Budget 2021: 20 ways it could affect your wallet
  (Macleans)

As we’re sure you may have already heard, Prime Minister Justin Trudeau made some announcements this morning (March 27, 2020) about additional programs available to support small businesses. What these programs will have to offer could possibly be substantial to you, so we understand completely that you would like to know what this means to you. Unfortunately, the government has not yet released a lot of details, so we’re not able to answer with any accuracy whether you qualify, or whether it will benefit you.

Please bear with us and all of our accounting and bookkeeping colleagues (who are working together and sharing insights) as more information comes out over the next several days. We promise that as we learn more information about what will impact your business, you will be the first to know.

Here is what we do know so far:

• Temporary Wage Subsidy – Originally introduced at 10% retroactive to March 18th, this new announcement brings the Temporary Wage Subsidy up to 75% retroactive to March 15th. There are no details yet on qualification, caps, or time period.
• Small Business Loans – Up to $40K, government backed, interest free for one year, up to $10K could be forgiven – is what we know at this point. No additional details have been given as yet.
• GST/HST Payments – These payments will be eferred until June 1st. Filings are still due, only payments are deferred.
• Taxes/Duties on Imports – Payments are deferred until June 1st.
• Bank of Canada has also cut the interest rate – down to 0.25%.

Thank you for your patience as we work to get more information. Wishing you and yours safety and good health as we all make our way through these unprecedented times.

We’ve barely taken down the holiday decorations … and it’s time to start thinking about tax changes that kick in as the new year gets under way. But if you stay on top of them now (and hey, you know who to call if you need assistance!), there will be more reasons to celebrate as the new year unfolds.

This overview from CBC News is very helpful:

(Image courtesy of Ottawa Business Journal)

Your tax bill could change in 2019. Here’s what to expect.

From low-income subsidies to passive cash taxation to the carbon tax, the rules are set to shift

A whole host of federal tax changes come into effect in the new year. Some will hit your paycheque, others your bills — and if you’re a small business owner, there are a couple of changes coming for which you’ve likely been preparing for months.

Read the entire article here.