News + Articles
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 MoreClient 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 MoreDan 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 MoreCLIENT 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 MoreThings 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 MoreCongratulations 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 MoreOmicron, 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 MoreCPA 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 MoreCLIENT UPDATE – October 28, 2021 COVID RELIEF PROGRAMS
On October 21, 2021, the federal government announced the next phase of COVID relief programs for both individuals and businesses. For individuals, the Canada Recovery Benefit (CRB) ended October 23, 2021 and is being replaced with the Canada Worker Lockdown Benefit (CWLB) focused on those out of work due to a government-imposed lockdown. The existing…
Read MoreCLIENT UPDATE – October 27, 2021 Action Needed – New Online Ontario Business Portal
This bulletin is inform you of an important change in how Ontario businesses and not-for-profits will be required to deal with the Government of Ontario. Service Ontario has launched an online portal, the Ontario Business Registry, for businesses and not-for-profit corporations that are registered, incorporated, or licensed to carry on business in Ontario. This service…
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