Taxation, Charitable Donations & Corporations (Fa-la-la-la-la, la-la-la-la)

‘Tis the season of giving, and along with it come many questions about the income tax treatment of charitable donations. Individual vs. Corporate Tax Treatments It’s important to know that the income tax treatment of charitable donations made by a corporation has both similarities to and differences from the tax treatment for charitable donations made […]

The Gift of Tax This Holiday

As we near the final months of the year, discussions of holiday gifts and parties for employees are often the main topics of the season. While an unwanted tax bill may not be in the minds of employers during the holiday, it’s important not to overlook the tax implications of these wonderful perks. Holiday Gifts […]

Ask the Expert… Should I host a staff holiday party?

With December around the corner, many of us are looking for ways to reconnect with colleagues and have a little bit of fun celebrating the holidays together. The decision of whether or not to host a staff holiday party is ultimately up to you and the best fit for your company culture as long as […]

The Real Cost of Buying Luxury Cars in B.C.

Editor’s note: This article was originally published on November 16, 2020, and was updated on September 30, 2021 to show the impact of the proposed federal luxury tax. Having built a successful career or business, many high-income earners like to reward themselves by purchasing a luxury car.  However, the true-cost of buying a luxury car […]

National Day for Truth and Reconciliation

Today, we’re sharing the Survivors’ Flag as an expression of remembrance, meant to honour residential school Survivors and all the lives and communities impacted by the residential school system in Canada. We acknowledge that DMCL operates on the traditional, ancestral, unceded territory of the Musqueam and Lkwungen peoples, and the Semiahmoo, Katzie, Kwikwetlem, Kwantlen, Qayqayt […]

DMCL_Fore-For-Food_Sponsor

Fore for Food

DMCL Chartered Professional Accountants recently partnered with the Greater Vancouver Food Bank as a presenting sponsor in their first-ever annual golf tournament: Fore for Food – A Day of Golf. Our partners Brad Allen, Michael Auras, Steve Leung, and Fraser Ross were proud to join the event on behalf of DMCL and support this essential […]

Keeping Up with Trust Reporting

Keeping Up with Trust Reporting

New 2021 Trust Reporting Rules to the CRA There are new tax return filing and information reporting requirements for trusts effective for taxation years ending on/after December 31, 2021. Changes include: Requiring a T3 to be filed for certain trusts even if they did not have to before, Requiring reporting of personal information including names […]