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.
Support for women entrepreneurs
On March 8, we celebrated International Women’s Day—a day to recognize and rejoice in women’s and girls’ social, economic, cultural, and political achievements. DMCL wants to acknowledge and celebrate all those who identify as women in our lives—at home, at work, at play, and across the world—who inspire us daily. To mark the occasion, we’ve […]
Making the Case: Corporate Social Responsibility grows your bottom line
What is Corporate Social Responsibility (CSR)? This often-misunderstood term promotes the idea that businesses can’t ignore the bigger picture and must take into account their actions in the pursuit of profit. Some suggest that the sole objective of a corporation is to maximize returns for its shareholders and increase its bottom line regardless of other […]
Ask the Expert… What is the Triple Bottom Line?
Businesses have traditionally looked solely at their profitability to determine how well they are performing; however, with growing public awareness of key social and environmental issues, more and more businesses are turning to CSR to focus on growing their triple bottom line instead. You may have heard of the triple bottom line before, but weren’t […]
2022 Tax Deadlines Calendar
We’ve put together the below calendar to help you keep track of the 2022 tax deadlines and be prepared well in advance of any due dates. Included are all provincial, federal and US tax deadlines. For more information on federal and provincial COVID-19 economic relief programs, see Notes 2 and 3 below. Deadline Action January […]
Updates on the proposed expanded trust reporting rules
Attention trustees, As we noted in previous posts, the CRA has been asking trustees to provide their details, as well as details on other trustees, the settlor, the protector (if any) and beneficiaries, starting with the 2021 T3 income tax return due March 31, 2022. As a trustee, obtaining the information the CRA is requesting […]
Black Excellence Day
Today marks the first Black Excellence Day in British Columbia. It’s a day to celebrate Black history and learn about Black stories, Black art and Black people and a day to stand in solidarity with Black Canadians. At DMCL, we believe in the importance of uplifting diverse voices. We continue to find and implement ways […]
Notice to Reader: There’s a new compilation standard in town
After almost 35 years, the Auditing and Assurance Standards Board (AASB) issued a new standard for compilation engagements effective for periods ending on or after December 14, 2021 with earlier application permitted.
If you manage a business and engage a practitioner to compile your financial information, these changes will affect you.
