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How to support your employees during the pandemic "Revised workloads, flexible hours, psychological supportthere are many ways to show employees you care. Here are three suggestions. The pandemic has left many employees struggling with burnout and anxiety and it’s important everyone has someone to confide in, experts say .... Although the vaccination campaign is now underway, millions of Canadians won’t be giving up their home offices just yet. Meanwhile, others who’ve already returned to the workplace are dealing with significant pandemic-related stress. How can employers support them in the coming months?" To learn more follow the link: https://www.cpacanada.ca///2021-01-28-supporting-employees

CANADA | TAX NEWS 3 ways CPAs can simplify their clients’ personal taxes during the pandemic "Be in the know about the changes and new requirements as we head into the 2020 tax season... CPAs may also want to remind their clients, adds Ball, about new credits and programs the CRA is offering, including a digital news tax credit from 2020 to 2024 for expenses paid on subscriptions with qualified Canadian journalism organizations, and a Canada Training Credit for 2020 and later tax years, for those eligible." To know more follow the link: https://www.cpacanada.ca//c/2021-02-01-helping-tax-clients

Rethinking your firm in 2021 'With the pandemic shaking things up, now is a great time to reexamine your practice, and Amanda Aguillard of Elefant Training and Accounting Salon offers a guide to what the firm of the future can look like." To listen the poodcast follow the link: https://www.accountingtoday.com//rethinking-your-firm-in-2

2021 is poised to be a year of opportunity for CPAs "For Canada’s accounting profession, these values include collaboration, sharing knowledge, professional ethics, community involvement and sustainability. Our more than 220,000 members play a vital role in ensuring a productive economy and the efficient allocation of capitalresponsibilities that have rarely been as important as they are right now. CPA Canada, meanwhile, has a long history of providing governments with feed...back from its members. Advocacy and engagement through new groups, such as the federal government’s Industry Strategy Council, will be particularly important as the economy adjusts to shifts now rippling across many sectors. " To read more follow the link: https://www.cpacanada.ca//piv/2020-12-21-presidents-letter

Canadian accountants proved their essential value during the COVID-19 pandemic "TORONTO, January 1, 2021 Good riddance to 2020, a year like no other in the accounting profession, as the COVID-19 pandemic played havoc with accounting practices and corporate finance departments across Canada. Yet amidst the carnage, Canadian accountants proved their value, as provincial governments declared many accounting and finance lines essential services, keeping the payroll and relie...f cheques rolling. Before we bid adieu to the past year, let’s look back on the top 10 Canadian accounting stories of 2020, in random order and impact (much like the coronavirus) " To know more follow the link" http://www.canadian-accountant.com//top-10-canadian-accoun

Should Canada have a wealth tax: lessons learned "Wealth taxes are not new countries that have a wealth tax include France, India, Italy, Norway, Spain and Switzerland, and many that had them have abandoned them. The idea of a wealth tax is to tax the value of a person's assets less debt. Some of the challenges that come are in the design of the tax, including who should pay and how to value assets. Some countries have lower thresholds and others have very high ones based o...n total net worth. Another issue is whether the family unit should be taxed, or the individual. And should the rate be progressive or flat?" Click the link if you want to learn more. http://www.canadian-accountant.com//should-canada-have-a-w

CRA operational update - Ten things you need to know (Fall 2020) "TORONTO On October 21, three senior Canada Revenue Agency ('CRA') officials outlined a status update on tax controversy and dispute resolution at this stage of the COVID-19 pandemic. As the presentation was not recorded, we summarized the top ten topics covered. The TLOPA applies to allow the suspension or extension of time limits for taking certain steps under numerous statutes,2 including the Income Tax Act... and the Excise Tax Act. However, the TLOPA does not affect treaty-based statute-barred dates. Further, the TLOPA suspensions/extensions expire after December 31, 2020." Do you want to read more? Check the link http://www.canadian-accountant.com//cra-operational-update

COVID-19 is stressing us out over personal finances TORONTO, OCT. 28, 2020 According to a new national survey commissioned by Chartered Professional Accountants of Canada (CPA Canada), one third of Canadians say the stress associated with money management has increased due to the COVID-19 pandemic. Many Canadians have felt a harsh financial impact from the fallout of COVID-19 as it alters incomes, savings strategies and retirement plans. Three in 10 (31%) survey participa...nts say their income has decreased as a result of COVID-19 and 30 per cent of respondents report COVID-19 has reduced the amount they are saving. COVID-19 also is impacting the way survey participants are spending, with 55 per cent saying they are spending less, on average. Two in 10 (21%) of pre-retired respondents say they now plan to retire later as a result of COVID-19. Canadians are worried amid the uncertainty and the pandemic is influencing how they are viewing and managing their finances, says Doretta Thompson, CPA Canada’s Financial Literacy Leader. The need to provide financial educational and literacy tools to Canadians is paramount so that information is available to help individuals and families make informed decisions when it comes to money matters. Want to know more? Click the link http://www.canadian-accountant.com//covid-19-is-stressing-

Have you heard about The most outlandish recent scams? A catalog of recent cons, including a U.S. college admission bribery scandal and fraudulent dog adoption shipping fees "US$250,000... Fine issued to B.C. residents David Sidoo and Xiaoning Sui, two of the 53 people, including actors Lori Loughlin and Felicity Huffman, who were charged in the 2019 college admissions bribery scandal. Sidoo paid US$200,000 to obtain fraudulent SAT results for his two sons. Sui paid US$400,000 to secure her son’s enrolment at UCLA. KID ROCK Nickname once given to B.C. stock promoter Damien Reynolds by Canadian Business magazine. In May, Reynoldswho appeared on The Real Housewives of Vancouver and was implicated in the Panama Papersmanaged to avoid a 20-month conditional sentence for failing to report more than $600,000 in taxable income, among other charges. A B.C. Supreme Court judge instead gave him 200 hours of community service and a nightly curfew. $1,000 Amount in Amazon gift cards that a scammer, posing as the supervisor of an essential service in North Bay, Ont., told an employee to purchase. The worker bought the cards but uncovered the scheme before sending them to the imposter." Do you want to read more? Check the link https://www.cpacanada.ca//pivot-ma/2020-09-28-latest-scams

Canada’s auditors had begun to change the way they work. 2020 kicked that effort into overdrive "Even before this year’s dramatic turn of events, Canada’s audit profession had been casting around for ways to modernize, improve the quality of its work and develop new types of assurance services For a famously staid corner of the accounting profession, the audit sector has found itself in the eye of a hurricane that is changing the calculus of how CPAs deliver assurance servic...es to the boards of public companies. Changes on the audit landscape have been brewing for years but 2020 has proved especially transformative. After work-at-home restrictions forced auditors to deliver their services remotely, audit teams had to sharply accelerate their reliance on digital technologies like cloud-based transaction tracking. They also had to devise new ways of interacting with clients facing, in some cases, the sorts of existential dilemmas that required auditors to rethink the way they wrote going concern assessments" Would you like to read more about it? Check this link! https://www.cpacanada.ca//pivot/2020-08-24-future-of-audit

Did you know that "More Canadian homes sold in July than any other month in past 40 years?" The Canadian Real Estate Association said Monday that the 62,355 sales in July 2020 marked the highest monthly sales figure on record, with data going back more than 40 years. CREA said the sales came as the actual national average price for homes sold in July hit a record $571,500, up 14.3 per cent from the same month last year.... Sales have also been helped by low mortgage rates with rates for five-year fixed-rate mortgages being offered at less than two per cent. The uptick in home prices was broad-based, with all 20 of the markets tracked by CREA reporting month-over-month increases in July. The Toronto area, Guelph, Ont., Ottawa and Montreal saw the biggest price spikes, with prices climbing faster in most markets east of Saskatchewan. Prices rose more modestly in British Columbia and Alberta, CREA said. Do you want to know more? check the link https://www.ctvnews.ca//more-canadian-homes-sold-in-july-t #accounting #business #finance #tax #accountant #bookkeeping #taxes #smallbusiness #cpa #entrepreneur #taxseason #payroll #accountants #akuntansi #audit #accountingservices #money #businessowner #management #taxconsultant #incometax #motivation #marketing #startup #accountinglife #konsultanpajak #accountingsoftware #bookkeeper