Announcements

 

Get caught up with Andrews & Co.

Whether it's tax season or welcoming new team members, we have a lot going on at our firm. We'll keep you connected by sharing our ongoing news.

  • UPDATE FOR REPORTING T4 THIS YEAR
    Posted

    Please find below an important update and requirement for reporting T4 this year.

    For the 2020 tax year, the Canada Revenue Agency (CRA) will be introducing additional reporting for the T4 slip, Statement of Remuneration Paid.

    Additional reporting requirements will apply to all employers and will help the CRA validate payments under the Canada Emergency Wage Subsidy (CEWS), the Canada Emergency Response Benefit (CERB) and the Canada Emergency Student Benefit (CESB).

    How to report employment income during COVID-19 pay periods

    For the 2020 tax year, in addition to reporting employment income in Box 14, other  new information codes must be completed when reporting employment income and retroactive payments in the following periods:

    • Code 57: Employment Income – March 15 to May 9
    • Code 58: Employment Income – May 10 to July 4
    • Code 59: Employment Income  –  July 5 to August 29
    • Code 60: Employment Income – August 30 to September 26

    Eligibility criteria for the CERB, CEWS, and CESB is based on employment income for a defined period. The new requirement means employers should report income and any retroactive payments during these periods.

    To find out more information about this new requirement please visit: https://www.canada.ca/en/revenue-agency/campaigns/covid-19-update/support-employers-cra-covid-19.html#howto

    Please find below an important update and requirement for reporting T4 this year.

    For the 2020 tax year, the Canada Revenue Agency (CRA) will be introducing additional reporting for the T4 slip, Statement of Remuneration Paid.

    Additional reporting requirements will apply to all employers and will help the CRA validate payments under the Canada Emergency Wage Subsidy (CEWS), the Canada Emergency Response Benefit (CERB) and the Canada Emergency Student Benefit (CESB).

    How to report employment income during COVID-19 pay periods

    For the 2020 tax year, in addition to reporting employment income in Box 14, other  new information codes must be completed when reporting employment income and retroactive payments in the following periods:

    • Code 57: Employment Income – March 15 to May 9
    • Code 58: Employment Income – May 10 to July 4
    • Code 59: Employment Income  –  July 5 to August 29
    • Code 60: Employment Income – August 30 to September 26

    Eligibility criteria for the CERB, CEWS, and CESB is based on employment income for a defined period. The new requirement means employers should report income and any retroactive payments during these periods.

    To find out more information about this new requirement please visit: https://www.canada.ca/en/revenue-agency/campaigns/covid-19-update/support-employers-cra-covid-19.html#howto

    Read More
  • Motor Vehicle Expenses: Total Kilometres Driven
    Posted

    In a September 17, 2019 Tax Court of Canada case, at issue was the deductibility of vehicle expenses, and in particular, the portion of total vehicle use that was for employment purposes. While initially challenged by CRA, the Court eventually accepted the credit card statements as support for the amounts expended. The taxpayer held and produced a T2200 which indicated that motor vehicle expenditures were requirements of employment. 

    Taxpayer loses – vehicle expenses

    The taxpayer had initially claimed 90% employment usage but later asserted that only 1,015 of her total 1,353 kilometres travelled (75%) were for employment purposes. This percentage is used to determine the portion of total vehicle expenses that can be deducted. The Court then noted that the total kilometres driven for the year were more likely approximately 10,000 based on the odometer readings listed on the third-party garage repair invoices provided throughout the year. As the reported employment kilometres (which were supported by a vehicle log) were about 10% of the total reported on the invoices, only 10% of expenses were allowed.

     

    ACTION ITEM: In addition to employment/business travel logs, CRA may ask for support of total travel. Retain records that support total kilometres traveled such as repair receipts.

    In a September 17, 2019 Tax Court of Canada case, at issue was the deductibility of vehicle expenses, and in particular, the portion of total vehicle use that was for employment purposes. While initially challenged by CRA, the Court eventually accepted the credit card statements as support for the amounts expended. The taxpayer held and produced a T2200 which indicated that motor vehicle expenditures were requirements of employment. 

    Taxpayer loses – vehicle expenses

    The taxpayer had initially claimed 90% employment usage but later asserted that only 1,015 of her total 1,353 kilometres travelled (75%) were for employment purposes. This percentage is used to determine the portion of total vehicle expenses that can be deducted. The Court then noted that the total kilometres driven for the year were more likely approximately 10,000 based on the odometer readings listed on the third-party garage repair invoices provided throughout the year. As the reported employment kilometres (which were supported by a vehicle log) were about 10% of the total reported on the invoices, only 10% of expenses were allowed.

     

    ACTION ITEM: In addition to employment/business travel logs, CRA may ask for support of total travel. Retain records that support total kilometres traveled such as repair receipts.

    Read More
  • Update on 2020 ALS
    Posted

    First of all, a big thank you to everybody who donated to this fantastic cause which allowed Mat to raise $1,650 for ALS.

    As promised, Mat completed the walk first and took a couple of snaps while doing it. The walk was completed on May 22 on what you can see was a glorious sunny day. The view was fantastic and not quite as busy as he was used to when performing the Walk to End ALS. On June 21 Mat completed the 300 pushups within the 1 hour that he set for himself. In fact, as Mat got closer to the end and felt confident in his ability to complete the challenge for the first time, he managed to speed up so he had a whole 4 minutes to spare. A big success as a result of all the support so thanks again.

    Great job Mat!

    First of all, a big thank you to everybody who donated to this fantastic cause which allowed Mat to raise $1,650 for ALS.

    As promised, Mat completed the walk first and took a couple of snaps while doing it. The walk was completed on May 22 on what you can see was a glorious sunny day. The view was fantastic and not quite as busy as he was used to when performing the Walk to End ALS. On June 21 Mat completed the 300 pushups within the 1 hour that he set for himself. In fact, as Mat got closer to the end and felt confident in his ability to complete the challenge for the first time, he managed to speed up so he had a whole 4 minutes to spare. A big success as a result of all the support so thanks again.

    Great job Mat!

    Read More
  • 2020 Summer Office Hours
    Posted

    Please note our office hours have changed for the summer

    Monday – Thursday 8:30am – 5:00pm

    Friday 8:30am – 1:00pm

    Please note our office hours have changed for the summer

    Monday – Thursday 8:30am – 5:00pm

    Friday 8:30am – 1:00pm

    Read More
  • 2020 VIRTUAL ALS WALK
    Posted

    As many of you know our partner Andy Foreman passed away in March 2013 from ALS. ALS is a terminal disease that takes away people’s ability to walk, talk and eventually breath on their own.

    Staff member Mat Hodge has registered to take part in the annual “Walk to End ALS’  which this year takes place on June 21, 2020.. As a result of COVID-19, the ‘walk’ this year will be virtual. However, Mat will still perform the actual 5km walk as normal using the typical route, only this year he will do it without the crowds, maintaining as much distance from society as possible.

    If you would like to make a donation to this worthwhile cause the details can be found in this link: Personal Fundraising Page: https://secure.alsevents.ca/registrant/FundraisingPage.aspx?registrationID=4695733&langPref=en-CA&fbclid=IwAR0OoQgSHcGCzdUV4QH9selHjsT9xNRRorh2WvDEhBWIw3Rx_9hGqFve_sA#&panel1-1

    As many of you know our partner Andy Foreman passed away in March 2013 from ALS. ALS is a terminal disease that takes away people’s ability to walk, talk and eventually breath on their own.

    Staff member Mat Hodge has registered to take part in the annual “Walk to End ALS’  which this year takes place on June 21, 2020.. As a result of COVID-19, the ‘walk’ this year will be virtual. However, Mat will still perform the actual 5km walk as normal using the typical route, only this year he will do it without the crowds, maintaining as much distance from society as possible.

    If you would like to make a donation to this worthwhile cause the details can be found in this link: Personal Fundraising Page: https://secure.alsevents.ca/registrant/FundraisingPage.aspx?registrationID=4695733&langPref=en-CA&fbclid=IwAR0OoQgSHcGCzdUV4QH9selHjsT9xNRRorh2WvDEhBWIw3Rx_9hGqFve_sA#&panel1-1

    Read More
  • Tax Deadline Reminder 2020
    Posted

    This is a friendly reminder that the deadline to file your 2019 personal income tax return is  – Monday, June 1st 2020. If you haven’t already done so please bring in your tax related information and documents.  We will be accepting payment by phone, e-transfer to payments@andrews.ca or through our website at Andrews.ca. Thank you!

    This is a friendly reminder that the deadline to file your 2019 personal income tax return is  – Monday, June 1st 2020. If you haven’t already done so please bring in your tax related information and documents.  We will be accepting payment by phone, e-transfer to payments@andrews.ca or through our website at Andrews.ca. Thank you!

    Read More
  • COVID-19 Financial Relief for Canadians
    Posted Uncategorized

    Andrews & Co. is continuing to actively monitor the latest updates of COVID-19. We are still not booking meetings at this time, however our office is open and we are here to help. We have created another resource tool for you: COVID-19 FINANCIAL RELIEF FOR CANADIANS.

    If you are in need of any help, please reach out to us at info@andrews.ca or 613-837-8282. Visit our Resources tab on our website to download your own copy now.

    Andrews & Co. is continuing to actively monitor the latest updates of COVID-19. We are still not booking meetings at this time, however our office is open and we are here to help. We have created another resource tool for you: COVID-19 FINANCIAL RELIEF FOR CANADIANS.

    If you are in need of any help, please reach out to us at info@andrews.ca or 613-837-8282. Visit our Resources tab on our website to download your own copy now.

    Read More
  • COVID-19
    Posted

    As a firm, we have been actively monitoring the latest status of COVID-19. We are not booking meetings at this time, however our office is open and we are here to help. We want to ensure you that we will continue to support you through this pandemic. We have created an information summary outlining the governments economic response plan released on March 18th. If you are in need of any help, please reach out to us at info@andrews.ca or 613-837-8282.

    DOWNLOAD THE COVID-19 GUIDE NOW

    As a firm, we have been actively monitoring the latest status of COVID-19. We are not booking meetings at this time, however our office is open and we are here to help. We want to ensure you that we will continue to support you through this pandemic. We have created an information summary outlining the governments economic response plan released on March 18th. If you are in need of any help, please reach out to us at info@andrews.ca or 613-837-8282.

    DOWNLOAD THE COVID-19 GUIDE NOW

    Read More
  • 2019 Personal Tax Checklist
    Posted

    Our 2019 Personal Income Tax Return Checklist is now available to download.

    • Visit our resources tab for more information

    Our 2019 Personal Income Tax Return Checklist is now available to download.

    • Visit our resources tab for more information
    Read More
  • Spring Career Fairs 2020
    Posted

    Shanley McCrann and Ashley Mouland have spent the past two weeks attending Ottawa U and Carleton’s Spring Career Fairs. It was a pleasure meeting many new faces! For current career opportunities please visit our website under our career section or email Human Resources at smccrann@andrews.ca.

    Shanley McCrann and Ashley Mouland have spent the past two weeks attending Ottawa U and Carleton’s Spring Career Fairs. It was a pleasure meeting many new faces! For current career opportunities please visit our website under our career section or email Human Resources at smccrann@andrews.ca.

    Read More