Better safe than sorry: Protecting your business from disaster

As climate change makes extreme weather events more common and more severe, and BC continues to be a geologically-active region, there are plenty of reasons for you to be wary of disaster risks posed to you and your business. Just as you would plan for protecting your home and your family, there are significant steps […]

T1134 Information Return Relating to Controlled and Non-Controlled Foreign Affiliates

Canadian resident taxpayers who own shares of non-resident corporations are generally required to file a T1134 information return if the non-resident corporation is a “foreign affiliate” of the taxpayer. A one-time exemption from filing may be available for the year in which an individual immigrates to Canada. New Form, Filing Deadline, and Disclosures The Canada […]

Ask the Expert… How do I calculate vehicle allowance rates for my employees when they use their personal ZEVs for business?

With so many incentives being offered by the BC and federal governments to encourage zero-emission vehicle (ZEV) adoption, you’re likely to see some of your business’s employees arriving to work in ZEVs soon. If your employees use their personal ZEVs for business purposes, they’ll want to be reimbursed for the associated expenses the same as […]

2022 Federal Budget Highlights

On April 7, 2022, the Honourable Chrystia Freeland tabled her second budget as federal Minister of Finance and Deputy Prime Minister. While previous years’ tax-and-spend budgets have been peppered with some more constraint and long-term plans for containing Canada’s growing deficit, this year’s budget takes aim at several of the Liberal campaign promises and was […]

5 internal controls you should have implemented yesterday

March is Fraud Prevention Month across Canada, and as we enter the busiest stretch of tax season there’s no better time to consider the internal controls you might be overlooking that are crucial to the security, transparency and integrity of your business’s financial statements. For those who can’t keep up with all the CPA lingo […]

BC PST Rebate Reminder (March 31, 2022)

Is your business planning any purchases or leases of tangible assets in BC? If there will be BC PST charged, consider ordering, being invoiced and paying for them by the end of this month, March 31, to recover the PST if they are eligible assets. Purchases and leases for most tangible assets qualify as long […]

2021 Personal Income Tax Return Checklist

Our 2021 Personal Tax Return Checklist is designed to help you make this process as easy and efficient as possible. It also assists us in ensuring we have information that is as complete and accurate as possible to assure your taxes are minimized and correctly reported. If you have any questions, please contact your DMCL Advisor.