Employee Gifts and Parking: Updated CRA Policies

Employee Gifts and Parking: Updated CRA Policies

Employee Gifts and Parking: Updated CRA Policies. CRA updated several administrative policies in respect of employment benefits, effective January 1, 2022. Two of the key changes relate to employee gifts and parking. These updates were released in late 2022. Gifts,...
2023 Vehicle Allowance Rates

2023 Vehicle Allowance Rates

2023 CRA Vehicle Allowance Rates, If you reimburse yourself or your employees for business use of a personal vehicle the CRA vehicle allowance rates for 2023 have increased by $0.07 per km. The rates for 2023 are 68 cents per kilometer for the first 5,000 kilometres...
The FOCUS LLP Difference

The FOCUS LLP Difference

What makes Focus LLP different from our competitors and why should you consider using us. What is the Focus LLP difference? We Are Accounting Professionals and we are committed to providing close, personal attention to all our clients. We take pride in giving you the...

2022 Vehicle Allowance Rates

2022 CRA Vehicle Allowance Rates 2021 was a very challenging year and we hope that 2022 will be much better. If you reimburse yourself or your employees for business use of a personal vehicle the CRA vehicle allowance rates for 2022 have increased by $0.02 per km. The...

Employee Taxable Benefits

Employee taxable benefits are to be calculated and included in your employee’s income on their T4 slips each year.  With the calendar year coming to a close, it is a good time to evaluate if you have any taxable benefits to report for your employees. The most...

New Standard for Compilation Engagements

New Standard for Compilation Engagements (CSRS 4200) For the majority of our corporate clients, we perform a compilation engagement to prepare financial statements and a corporate tax return.  You may be familiar with a compilation engagement being referred to by the...