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.

  • CFE 2016
    Posted

    Andrews & Co would like to wish two staff accountants the best of luck as they write the Common Final Exam (CFE).

    Tomorrow Lauren Sels and Lee-Ann Parent will begin a three day examination as the final part of their CPA testing stream. Join us in wishing them good luck!

    Andrews & Co would like to wish two staff accountants the best of luck as they write the Common Final Exam (CFE).

    Tomorrow Lauren Sels and Lee-Ann Parent will begin a three day examination as the final part of their CPA testing stream. Join us in wishing them good luck!

    Read More
  • STAFF PLANNING RETREAT
    Posted

    This year the public practice staff decided to get away from the office and head across the Ottawa River to the Fairmont le Chateau Montebello for a two day staff planning retreat.

    Activities and events like these help generate new ideas and success strategies that help fuel employee growth.   By forming genuine collaborative relationships, partners, managers and staff are able to openly discuss future plans for themselves and the firm.

    The retreat was a positive experience for all and staff are now looking forward to the annual golf tournament this Friday at the Outaouais Golf Club.

     

    IMG_6167      IMG_0073

    This year the public practice staff decided to get away from the office and head across the Ottawa River to the Fairmont le Chateau Montebello for a two day staff planning retreat.

    Activities and events like these help generate new ideas and success strategies that help fuel employee growth.   By forming genuine collaborative relationships, partners, managers and staff are able to openly discuss future plans for themselves and the firm.

    The retreat was a positive experience for all and staff are now looking forward to the annual golf tournament this Friday at the Outaouais Golf Club.

     

    IMG_6167      IMG_0073

    Read More
  • General Housekeeping
    Posted

    As the summer is winding down, you may find this is the perfect time to get your corporate books in order.

    Having clean, organized records can help save time and costs when it comes to preparing your year-end financial statements and tax return.

    We have an entire business management department that is happy to assist if you find the process overwhelming. For more information please see our helpful guide: https://andrews.ca/media/2016/05/Andrews-_-Co-BMS.pdf

     

     

     

    This publication is produced by Andrews & Co. as an information service to clients and friends of the firm, and is not intended to substitute for competent professional advice. No action should be initiated without consulting your professional advisors.

    As the summer is winding down, you may find this is the perfect time to get your corporate books in order.

    Having clean, organized records can help save time and costs when it comes to preparing your year-end financial statements and tax return.

    We have an entire business management department that is happy to assist if you find the process overwhelming. For more information please see our helpful guide: https://andrews.ca/media/2016/05/Andrews-_-Co-BMS.pdf

     

     

     

    This publication is produced by Andrews & Co. as an information service to clients and friends of the firm, and is not intended to substitute for competent professional advice. No action should be initiated without consulting your professional advisors.

    Read More
  • Building Expansion – Update!
    Posted

    Considerable progress has been made on the building expansion.

    The outside walls and roof are almost complete.

    Everyday operations at the office have not been impacted by this renovation as it is only involving the rear portion of the building.

    Be sure to check back soon for more updates!

     

    Bldg1         Bldg2

    Considerable progress has been made on the building expansion.

    The outside walls and roof are almost complete.

    Everyday operations at the office have not been impacted by this renovation as it is only involving the rear portion of the building.

    Be sure to check back soon for more updates!

     

    Bldg1         Bldg2

    Read More
  • Estates & Income Taxes
    Posted

    We have updated our Estates & Income Taxes resource.

    Check it out now to stay informed! https://andrews.ca/media/2016/08/Estates-IT-001.pdf

    We have updated our Estates & Income Taxes resource.

    Check it out now to stay informed! https://andrews.ca/media/2016/08/Estates-IT-001.pdf

    Read More
  • August – Andrews & Co. ALS awareness month
    Posted

    August is ALS awareness month at Andrews & Co.!

    Throughout the month leading up to our annual staff golf tournament – The Foreman Cup; staff will be participating in a variety of activities in order to raise funds for the ALS Foundation in memory of our late partner Andrew S. Foreman.

    The first fundraising activity starts this week with Jean Day.

    Keep an eye out for our activity and fundraising updates throughout the month!

    We hope to surpass our fundraising goal as we did last year!

    August is ALS awareness month at Andrews & Co.!

    Throughout the month leading up to our annual staff golf tournament – The Foreman Cup; staff will be participating in a variety of activities in order to raise funds for the ALS Foundation in memory of our late partner Andrew S. Foreman.

    The first fundraising activity starts this week with Jean Day.

    Keep an eye out for our activity and fundraising updates throughout the month!

    We hope to surpass our fundraising goal as we did last year!

    Read More
  • CRA Audits
    Posted

    Have you recently received written notification from the Canada Revenue Agency (CRA) on your personal or corporate accounts?

    As part of their letter campaign, the CRA will often conduct spot checks, react to inconsistencies in information provided, and focus on differences between your information and that of people you deal with. Many of these notices are random and will not always result in an audit of your records; however if your selection by CRA does result in an audit, here are five helpful tips to make the audit process run as smooth as possible:

    • Contact your accountant: Your accountant is best suited to handle the audit in a timely and efficient manner. Make sure you contact them as soon as possible.
    • Do not take a passive approach: If you have been contacted, it’s in your best interest to respond as soon as you can. Ignoring a reassessment or audit letter will escalate the situation quickly and could lead to significant interest and penalties being incurred.
    • Be patient: This process may not be completed overnight – it may take some time, so patience is key.
    • Do not feel you are being targeted: The CRA is doing their best to ensure that tax compliance has been met across the board and many audits are actually conducted at random and as such should not be taken personally.
    • Right to object: Any CRA assessment arising from the audit is not a matter of fact. You always have the right to file an objection.

    Keeping these tips in mind will help you stay proactive and informed while being audited – which will allow the process to go a smooth as possible.

     

     

     

    This publication is produced by Andrews & Co. as an information service to clients and friends of the firm, and is not intended to substitute for competent professional advice. No action should be initiated without consulting your professional advisors.

    Have you recently received written notification from the Canada Revenue Agency (CRA) on your personal or corporate accounts?

    As part of their letter campaign, the CRA will often conduct spot checks, react to inconsistencies in information provided, and focus on differences between your information and that of people you deal with. Many of these notices are random and will not always result in an audit of your records; however if your selection by CRA does result in an audit, here are five helpful tips to make the audit process run as smooth as possible:

    • Contact your accountant: Your accountant is best suited to handle the audit in a timely and efficient manner. Make sure you contact them as soon as possible.
    • Do not take a passive approach: If you have been contacted, it’s in your best interest to respond as soon as you can. Ignoring a reassessment or audit letter will escalate the situation quickly and could lead to significant interest and penalties being incurred.
    • Be patient: This process may not be completed overnight – it may take some time, so patience is key.
    • Do not feel you are being targeted: The CRA is doing their best to ensure that tax compliance has been met across the board and many audits are actually conducted at random and as such should not be taken personally.
    • Right to object: Any CRA assessment arising from the audit is not a matter of fact. You always have the right to file an objection.

    Keeping these tips in mind will help you stay proactive and informed while being audited – which will allow the process to go a smooth as possible.

     

     

     

    This publication is produced by Andrews & Co. as an information service to clients and friends of the firm, and is not intended to substitute for competent professional advice. No action should be initiated without consulting your professional advisors.

    Read More
  • Changes to retirement pension plans:
    Posted

    On Tuesday June 21st, Kathleen Wynne announced there is no longer the need for Ontario to proceed with the proposed retirement plan that was promised as part of her 2014 victory.

    An agreement was reached a day earlier between the Federal and Provincial governments which resulted in a new and enhanced Canada Pension Plan.

    This agreement will see the following changes go into effect January 1, 2019:

    • Increase the income replacement from 1/4 to 1/3 of pensionable earnings
      • E.g.: Individual with $52,400 in constant earnings throughout their working life would now receive an annual pension of approximately $17,460 instead of the current $13,110
    • Increase to the maximum amount of income subject to CPP of 14%
      • Current projection results in this maximum being $82,700 in 2025 – the current maximum is $54,900
    • Changes will be phased-in gradually over 7 years to allow businesses more time to adjust

    The main advantage of the enhanced CPP when compared to the Ontario Retirement Pension Plan is that it will apply across Canada thereby benefiting more individuals.

     

     

    This publication is produced by Andrews & Co. as an information service to clients and friends of the firm, and is not intended to substitute for competent professional advice. No action should be initiated without consulting your professional advisors.

    On Tuesday June 21st, Kathleen Wynne announced there is no longer the need for Ontario to proceed with the proposed retirement plan that was promised as part of her 2014 victory.

    An agreement was reached a day earlier between the Federal and Provincial governments which resulted in a new and enhanced Canada Pension Plan.

    This agreement will see the following changes go into effect January 1, 2019:

    • Increase the income replacement from 1/4 to 1/3 of pensionable earnings
      • E.g.: Individual with $52,400 in constant earnings throughout their working life would now receive an annual pension of approximately $17,460 instead of the current $13,110
    • Increase to the maximum amount of income subject to CPP of 14%
      • Current projection results in this maximum being $82,700 in 2025 – the current maximum is $54,900
    • Changes will be phased-in gradually over 7 years to allow businesses more time to adjust

    The main advantage of the enhanced CPP when compared to the Ontario Retirement Pension Plan is that it will apply across Canada thereby benefiting more individuals.

     

     

    This publication is produced by Andrews & Co. as an information service to clients and friends of the firm, and is not intended to substitute for competent professional advice. No action should be initiated without consulting your professional advisors.

    Read More
  • CAMELOT MEMORIAL BRIDGE
    Posted

    Andrews & Co is pleased to announce the official opening of the new footbridge on the 2nd hole at Camelot Golf and Country Club.

    To commemorate  the life of our partner Andrew S. Foreman, a beautifully engraved stone was installed on the bridge.  The opening of the bridge coincides with the 25th anniversary of this wonderful course.

    IMG_0988          IMG_0990

    Andrews & Co is pleased to announce the official opening of the new footbridge on the 2nd hole at Camelot Golf and Country Club.

    To commemorate  the life of our partner Andrew S. Foreman, a beautifully engraved stone was installed on the bridge.  The opening of the bridge coincides with the 25th anniversary of this wonderful course.

    IMG_0988          IMG_0990

    Read More
  • CHANGES TO CHILD BENEFITS
    Posted

    Starting July 2016, the Universal Child Care Benefit (UCCB) and Child Tax Benefit (CTB) will be replaced with the Canada Child Benefit (CCB).

    The CCB is a monthly benefit paid to Canadian families with children under the age of 18 and is based on income level.

    Some quick facts about the new benefit include:

    • Canada Child Benefit is entirely tax-free
    • Maximum annual benefit per child under the age of 6 is $6,400
    • Maximum annual benefit per child between the ages of 6 through 17 is $5,400
    • Families with less than $30,000 will receive the maximum benefit

     

    The Government of Canada has a benefit calculator which provides an estimate of the child benefits a family could receive: http://www.budget.gc.ca/2016/tool-outil/ccb-ace-en.html

     

     

     

     

    This publication is produced by Andrews & Co. as an information service to clients and friends of the firm, and is not intended to substitute for competent professional advice. No action should be initiated without consulting your professional advisors.

    Starting July 2016, the Universal Child Care Benefit (UCCB) and Child Tax Benefit (CTB) will be replaced with the Canada Child Benefit (CCB).

    The CCB is a monthly benefit paid to Canadian families with children under the age of 18 and is based on income level.

    Some quick facts about the new benefit include:

    • Canada Child Benefit is entirely tax-free
    • Maximum annual benefit per child under the age of 6 is $6,400
    • Maximum annual benefit per child between the ages of 6 through 17 is $5,400
    • Families with less than $30,000 will receive the maximum benefit

     

    The Government of Canada has a benefit calculator which provides an estimate of the child benefits a family could receive: http://www.budget.gc.ca/2016/tool-outil/ccb-ace-en.html

     

     

     

     

    This publication is produced by Andrews & Co. as an information service to clients and friends of the firm, and is not intended to substitute for competent professional advice. No action should be initiated without consulting your professional advisors.

    Read More