CLIENT UPDATE Luxury Tax – Effective September 1, 2022

The 2021 budget introduced the Luxury Tax and the new tax received Royal Assent on June 23, 2022. The Luxury Tax will apply to new cars and aircraft with a retail sales price over $100,000 and to vessels over $250,000. The tax is the lesser of 20% of the value above the threshold and 10% of the…

Read More

Bill 27: Working for Workers Act – Policy on Disconnecting from Work

Attention all business owners with a staff greater than 25, as of June 2, 2022. Bill 27: Working for Workers Act requires your company to have a policy on disconnecting from the workplace prepared. According to the Employment Standards Act, 2000 (ESA) disconnecting form work is defined as “not engaging in work-related communications, including emails,…

Read More

CLIENT UPDATE – Federal Budget 2022

April 8, 2022 On April 7, 2022 (Budget Day) Finance Minister Chrystia Freeland announced the budget, “A Plan to Grow Our Economy and Make Life More Affordable” (Budget 2022).  Budget 2022 projects a deficit for the 2022-2023 year of $52.8 billion.  The deficit is projected to decline to less than $10 billion over five years.…

Read More

Client Update –  Employment Standards Act, 2000 in Ontario, Infectious Disease Emergency Leave

Employers are beginning to find it difficult to differentiate between COVID-19 sick leave and regular. How do they compensate? Do they have to compensate? It can be very confusing. Read below for our HR Solutions teams summary of the COVID-19 updates top the IDEL and a link to the forms and process released by the…

Read More

 Dan Dickinson Retirement

Dan Dickinson knew from an early age that his future lay in accounting. What he couldn’t have predicted then was that he would spend his entire 38-year career with one Belleville firm: Wilkinson and Company. That employment “streak” came to an end with his retirement on December 31, 2021.  “I always loved solving math problems…

Read More

CLIENT UPDATE – February 3, 2022COVID RELIEF PROGRAMS – GRANTS, CEBA LOAN EXTENSION, SUBSIDIES

Recently both the federal and Ontario governments have made announcements regarding new and existing COVID relief programs for businesses.  The Ontario government announced two new grants, the Ontario Small Business Relief Grant and the Ontario Business Costs Rebate Program.   The federal government provided a one-year extension for Canada Emergency Business Account (CEBA) loan repayments such…

Read More

Things You Should Know for the Upcoming Tax Season

Registered Retirement Savings Plan (RRSP): Contribution deadline: March 1, 2022  Note: contributions made by this date can be deducted form your 2021 taxable income. Maximum Contribution Limit: $27,830 Your RRSP deduction limit for 2021 can be found on your 2020 Notice of Assessment.  2021 Combined Marginal Tax Rates – Federal and Provincial  (approximates per https://www.taxtips.ca/taxrates/on.htm):…

Read More

Congratulations Scott CPE Graduate

On behalf of the Partners and staff at Wilkinson & Company, we are proud to announce that Scott Fleming has passed Common Final Exam, the last milestone in completing the academic requirements leading to the CPA designation.   A national three-day exam, the CFE assesses candidate competencies, including knowledge, professional judgment, and ethics.  Congratulations Scott!

Read More

Omicron, Inflation and the Impact on Our Investment Strategy

This article is from the Independent Accountants’ Investment Counsel Inc. (IAIC) After bouncing off new all-time highs in early November, the past two weeks saw  markets make a U-turn back towards late September levels on news of a new Covid-19  variant and indications from the US Fed that inflation may persist.   With the early reports…

Read More

CPA Canada New Compilation Engagement Summary

For the first time in almost 35 years, CPA Canada has updated the standard under which compilation engagements are to be conducted. We have put together a collection of resources including FAQs to assist with the implementation of this standard Wilkinson & Company New Compilation Engagement Summary CPA Canada Compilation Engagements Management Briefing CPA Canada…

Read More

Categories

Archives