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News & Updates

Tax Alerts

Two quarterly newsletters have beed—one dealing with personal issues, and one dealing with corporate issues.


Sometime around the middle of August, millions of Canadians will receive unexpected mail from the Canada Revenue Agency (CRA), and that mail will contain unfamiliar and unwelcome news. Specifically, the enclosed form will advise the recipient that, in the view of the CRA, he or she should make instalment payments of income tax on September 15 and December 15th of this year – and will helpfully identify the amounts which should be paid on each date.


The traditional idea of retirement – working full-time until age 65 and then leaving the workforce completely to live on government-sponsored and private sources of retirement income – has undergone a lot of changes over the past couple of decades, and Canada’s government-sponsored retirement income system has evolved in response. Generally, the changes to the Canada Pension Plan (CPP) and Old Age Security (OAS) programs have increased the flexibility of those programs and, in particular, have given individuals a greater range of choices with respect to, especially, the timing of their receipt of CPP and OAS.


While Canadians typically think of taxes only in the spring when the annual return must be filed, taxes are a year-round business for the Canada Revenue Agency (CRA). The CRA is busy processing and issuing Notices of Assessment for individual tax returns during the February to June filing season. To date, in 2017, the CRA has received and processed just under 28 million individual income tax returns. That volume of returns and the CRA’s self-imposed processing turnaround goals (two to six weeks, depending on the filing method) mean that the CRA cannot possibly do an in-depth review of each return filed prior to issuing the Notice of Assessment.


The Bank of Canada’s recent decision to raise interest rates generated a lot of media attention, for the most part because while the increase itself was only one quarter of a percentage point, it was the first move made by the Bank of Canada to increase rates in the past seven years. Much of the media coverage of the rate change centered around the effect that change might or might not have on the current real estate market. One of the issues under discussion was whether this or future increases in interest rates (and therefore mortgage rates) would act as a barrier to those seeking to get into the housing market. And a phrase that was prominent in that discussion — the mortgage financing “stress test” — is likely one that is unfamiliar to most Canadians, even those who are affected by it.


Two quarterly newsletters have been added—one dealing with personal issues, and one dealing with corporate issues.


There are so many reasons to consider hiring a CPA (Chartered Professional Accountant) to be on your financial team. Here are 12 reason why we think it is important:


Our vibrant and dynamic team are as much about our clients as they are about results, and we take the time to get to know our clients so we can provide the best service possible. On the flip side, we wanted to take the time to introduce our team to you, so you can get to know us better!


So, you’ve decided to work with an accountant. Now you might be wondering, what do we do exactly?

At Carlyle Shepherd & Co we offer an array of services to suit your needs, which you can find listed under Services (link to Services). But what does it all mean? Today on our blog, we’re breaking down some basics for you.


At Carlyle Shepherd & Co our customers are our number one priority. We value our client relationships and take extra care to invest in those connections. 


So, you need an accountant. What now? We believe that we provide the very best to our valued clients and we want you to find out why! Today we’ve outlined Five Reasons to Work with Carlyle Shepherd & Co.