You have until March 31, 2018 to take advantage of CRA’s historically low 1% prescribed rate to save taxes

Owner-managers of companies who operate a business or who own investments such as real estate or a stock portfolio in a private corporation may now be reluctant to split income from their corporations by paying dividends to adult family members because such dividends may now be subject to the highest marginal tax rate under the […]

2018 Federal Budget Insights

The Federal Government’s 2018 Budget touts Canada’s strong economic growth over the past two years, including real GDP growth of 3.2 per cent since the second quarter of 2016, an unemployment rate of 5.9 per cent, and significant improvements in average weekly earnings, consumer confidence, and household consumption.

Are you ready for BC’s new Societies Act?

The new Societies Act became effective November 28, 2016. Not-for-profit organizations (NFPOs) formed under the old Society Act were given two years to transition to the new Societies Act. Effected BC NFPOs must transition to the new Societies Act and to a new online filing system called “Societies Online” by November 28, 2018.

Four Key Benefits of Moving to the Cloud

Keeping proper books has long been considered a challenge for business owners. Many struggle to do it themselves or they may hire someone to do it for them and lose touch with the financial health of their company.  At DMCL, our experienced Cloud Accounting group uses cloud-based software to work collaboratively with our clients to […]

Congratulations to Reg LaBonte on his retirement

After 41 years of service in public accounting, including 21 years with his own firm and 14 years with DMCL, Reg LaBonte, CPA, CA  has retired from the partnership effective January 1, 2018. Reg has made numerous contributions to the firm through the years. Most notably his commitment to developing our successful public company assurance and […]

New IFRS Standards becoming effective – Are you ready?

There are three new International Financial Reporting Standards that become effective this year and next: IFRS 9 Financial instruments IFRS 15 Revenue from contracts with customers IFRS 16 Leases IFRSs 9 and 15 are effective for annual periods beginning on or after January 1, 2018.  Therefore, public companies with a December 31st year-end date will […]

Empty Homes Tax – Are you prepared?

If you are a City of Vancouver residential property owner you should have recently received notification that you have to make a 2017 Property Status Declaration.  The City of Vancouver has extended the deadline to March 5, 2018. The purpose of this declaration is to determine if you are subject to Vancouver’s new Vacancy Tax […]

Join us in welcoming Cherry Ho to the partnership

DMCL CPA is pleased to announce that Cherry Ho, CPA, CA has been admitted to the partnership effective January 1, 2018. Cherry has over 12 years of experience providing accounting and assurance services to both public and private companies and not-for-profit organizations.  Cherry specializes in mining, technology and medical industries and has extensive experience working with clients […]