New Tax Developments in 2022Friday, January 20 — 9:15 to 10:15 am
Similar to other years 2023 is no exception as there are many changes relating to personal and corporate taxes. On a personal tax basis, we will be discussing Tax-Free Frist Home Savings Accounts, First Time Home Buyers Tax Credit, Property Flipping Rules, Multi-Generational home reno tax credit and other limit and rate changes. We will also discuss Trust filing rules and the current state of the CRA filing position. Also, items impacting business such as Underused Housing Tax filings, enhanced Capital expenditures write offs and new CRA authorizing representative processes.
Walter Williams CPA, CBV, CIRP, CEPAWalter joined Vine and Partners LLP in 1989 as a partner having left Thorne Riddell (presently KPMG) as a corporate audit manager. As a senior partner with Vine and Partners LLP Walter is responsible for many of the firm’s larger audit and assurance clients and manages the firm's Succession Planning Practice.
Walter has obtained the CBV (Chartered Business Valuator) designation which he applies to succession planning engagements and assists clients in due diligence and pre-acquisition value assessments of potential corporate acquisitions.
Walter has developed a passion for assisting and preparing business owners to transition their businesses. This passion resulted in his obtaining a “Certified Exit Planner” designation and he is a regular participant at the annual conferences.
Walter was a regular co-host on 1010 radio’s “Ask the Expert” discussing business transition and other issues of interest to small and medium-sized business owners. In addition, Walter has spoken at various conferences including BMO Succession planning; World Source Top Producers Conference; Hamilton Law Society; Hamilton Estate Planners Meetings; OMA Anesthesiologists Conference on a variety of topics including tax restructuring and Succession planning.
Basic Blockchain BookkeepingFriday, January 20 — 10:45 to 11:45 am
What is the basic concept of blockchain technology? Why is it exciting and (at this time) unhackable? What are some different kinds of blockchain-based businesses that accounting professionals will encounter? In what capacity will we be asked to serve? What else is coming in the future? How do we deal with sales and income tax? What are the major risks of working with a blockchain client? What are some tools that can help?
It is our hope that this presentation will remove some of the fear surrounding working with blockchain-based businesses and educate about the key risks associated with it. One of the main goals is to encourage appropriate documentation, and help attendees ensure they are selecting customers appropriately.
Jonathan CarterJonathan Carter, CPA, CMA, is the founder of KATA Accounting Solutions Professional Corporation. Always listening to customers and improving processes, he is widely considered a thought leader in accounting and technology.
In 2021 and 2022, Jonathan was distinguished with the Intuit Insightful Accountant Top 100 ProAdvisor award. He was also awarded the Inspire Accountant Award in 2018 for contributions to the industry's future. Jonathan is also a QuickBooks Elite ProAdvisor, former Intuit All-star, and a member of the inaugural Intuit Accountant’s Council.
When Jonathan is not helping Canadians with their bookkeeping and accounting needs in his full-service cloud-based firm, he likes to spend time with his friends and family. Jon’s interests include Magic the Gathering and time outdoors camping, cottaging and fishing.
T1 BasicsFriday, January 20 — Noon Lunch & Learn
Are you new to doing personal tax returns? Do you have a new employee who could use some direction on using your T1 software? Have you just switched your tax software? As part of our first Lunch & Learn, we will explore the 3 most common tax software: Profile, Tax Cycle & Tax Prep. While identifying the commonalities and differences, members of the board will share insights and efficiencies of the software they use. This session could be the best way to start this tax season so that it is more profitable and less stressful.
Deb HickeyChair, Continuing Education Committee, ATAP Board of Directors
Deb has been preparing personal tax returns for 30 years. Her education in tax began while completing her 3 year Business Administration diploma and has been built on ever since. She has used several different tax preparation software including CanTax, Tax Prep and Profile. Profile has been her chosen software for over 20 years. As owner and President she has cultivated a deep and thorough understanding of the program.
Michael CotéCorporate Secretary, ATAP Board of Directors
Dr. Michael Coté is an Indigenous business leader. He is the strategy leader to a Worldwide team of Professionals providing Employer Services to SME/Large companies, both public and private, Not for Profit, Non-governmental Organizations and Governments. With more than 40 years of experience, Michael has built a team that gives these organizations the ability to function outside their home(domestic) market, at the same level as large companies. Having traveled to more than 200 countries, all over the world, Michael’s understanding of the different cultures and government regulations gives PSII the ability to provide compliance services in all aspects of setting up and operating the customer's entity outside their domestic operations: thus placing its global platform as SECOND to none in the marketplace. Being an equal opportunity and inclusive employer, Michael has ensured that PSII provides services in many common languages and over 100 currencies, and offering next day, Direct Deposit in 150 countries.
T4 BasicsFriday, January 20 — Noon Lunch & Learn
Focusing on T4 and T4A, Nicole will cover year end checklist, common mapping on T4 slips, PIER check and notices, new year checklist/system rolls, filing guidelines and penalties, and discrepancy notices.
Nicole WinterPayroll Solutions International
Nicole Winter is the Manager of Global Compliance & Payroll Operations, Payroll Solutions International Inc. It is an Indigenous owned company that enables organizations to outsource payroll processing, time & attendance, human resources, accounting, and professional services within more than 80 countries. Nicole has worked in the Private Sector, with the majority of that time spent in Managerial positions on an Employment and Consulting basis for Medium to Large scale organizations, most notably one of Canada’s Largest providers of Retirement and Long-Term Care with more than 30,000 employees in North America. Nicole attended Conestoga and Seneca College for Accounting and Human Resource Management and has certifications with the Canadian Payroll Association. Nicole has been invited to sit as a Board Member for a large not-for-profit organization to lend her expertise in areas of business development and finance.
Choose Your Own Adventure:Friday, January 20 — 1:45 to 2:45 pm
Taxpayer appeals of income tax and GST/HST assessments are the predominant form of tax litigation. But what about if your circumstance is not eligible for an appeal? What other legal remedies are available? This workshop will review some of the other tools in the tax litigator’s toolbelt, including: taxpayer relief, voluntary disclosure, remission, rescission and rectification. Through the use of a case study, participants will have the opportunity to test out potential remedies, and leave with a working knowledge of what remedy is most appropriate in the circumstances.
Amanda Doucette B.A., LL.B., LL.M (Tax), TEPStevenson Hood Thornton Beaubier LLP
Amanda Doucette is a problem solver who loves showcasing the human side of professional careers. In her day job, she is a lawyer, helping her clients navigate the complex world of tax and assisting business owners with wealth transition.
Her passion is helping people navigate problems that seem insurmountable. She wants to empower her clients, so they feel in control of their business and decision-making. In 2020, Amanda launched The Tax Chick Blog and The Tax Chick Podcast, each aimed at educating audiences about tax and estate planning issues. Both the blog and podcast allow her to take part in curious conversations and learn new things while educating others.
Amanda has been selected by peers as a leading practitioner in the 2021 and 2022 editions of The Canadian Legal Lexpert ® (Estate and Personal Tax Planning) and was the winner of The Lawyers Monthly Women in Law Award in 2021 and 2022 in recognition of her outstanding legal expertise and contribution to the area of tax litigation.
Connect with Amanda:
Email: adoucette@shtb-law.com
Website: www.shtb-law.com
Blog: https://taxchickca.wpcomstaging.com/
Podcast: https://thetaxchickpodcast.transistor.fm/
(also available on all major streaming platforms)
LinkedIn: www.linkedin.com/in/amandasadoucette
Newsletter, “Musings of a Tax Chick”: http://eepurl.com/hNbXcb
Business ValuationFriday, January 20 — 3:15 to 4:15 pm
As a trusted advisor, you can add value well in advance of the sale of a business and enhance the transaction value on behalf of your client:
Ashley StewartA Senior Manager with Vine and Partners LLP, Ashley is a Chartered Professional Accountant (CPA) and Registered Student of the Chartered Business Valuator (CBV) Institute.
With over twelve years’ experience Ashley enjoys helping small business and not-for-profit organizations. She understands their unique financial need and is committed to helping them grow their business. Ashley began working towards obtaining the CBV designation to assist clients in the sale of their business and provide value from a tax planning perspective.
Her client base covers a wide range of industry sectors and her community involvement has enhanced the accounting solutions that Vine and Partners LLP can offer its clients. She is a trusted advisor and enjoys assisting those that lack financial expertise or resources such as charitable organizations. Collaboratively, Ashley works with her Team to provide exceptional compliance service that will enhance their business success.
Walter Williams CPA, CBV, CIRP, CEPAWalter joined Vine and Partners LLP in 1989 as a partner having left Thorne Riddell (presently KPMG) as a corporate audit manager. As a senior partner with Vine and Partners LLP Walter is responsible for many of the firm’s larger audit and assurance clients and manages the firm's Succession Planning Practice.
Walter has obtained the CBV (Chartered Business Valuator) designation which he applies to succession planning engagements and assists clients in due diligence and pre-acquisition value assessments of potential corporate acquisitions.
Walter has developed a passion for assisting and preparing business owners to transition their businesses. This passion resulted in his obtaining a “Certified Exit Planner” designation and he is a regular participant at the annual conferences.
Walter was a regular co-host on 1010 radio’s “Ask the Expert” discussing business transition and other issues of interest to small and medium-sized business owners. In addition, Walter has spoken at various conferences including BMO Succession planning; World Source Top Producers Conference; Hamilton Law Society; Hamilton Estate Planners Meetings; OMA Anesthesiologists Conference on a variety of topics including tax restructuring and Succession planning.
Tax Issues for Deducting Automobile ExpensesSaturday, January 21 — 10:20 to 11:20 am
Gone are the days that you can do quick mileage reporting on tax returns. The kind of tax filing where you report 100km was driven in the year, and of that driving 60 km was for business to give a 60% deduction of auto expenses. As a former DOJ lawyer, and now tax dispute lawyer, the most common audit adjustment for any business is the disallowance of automobile expenses. The CRA look for exact reporting on the mileage driven in the year and then reconcile that reporting with oil change and repair receipts. Further, if you have owners of the corporation using corporate vehicles, the CRA will scrutinize whether there are shareholder benefits or standby charges that should be assessed against them. Where they find taxable benefits were conferred, there an income tax reassessment of the corporation and the owners, as well as an HST/GST reassessment of the corporation for conferring a benefit. In this seminar I will go through issues that I see in my practice that lead to the disallowance of automobile expenses, and then talk about what you should be considering to prevent that disallowance.
James RhodesUnlicensed CRA Behaviorist
Taxation Lawyers
James Rhodes operates a boutique taxation firm, TaxationLawyers, serving clients across Canada.
TaxationLawyers focuses on representing clients in tax disputes at audits and objections against the CRA and litigating these matters to the Tax Court of Canada and Federal Court of Appeal.
TaxationLawyers also provides all types of relief sought from the CRA such as Voluntary Disclosure Program and Taxpayer Relief applications, and seeking rectification orders.
TaxationLawyers also works with accounting firms to provide audit insurance to ensure taxpayers’ returns stay statute barred and not opened for reassessment.
James received his law degree from the University of Manitoba where he received the award for the highest mark in taxation law. Subsequently, James received a prestigious clerkship with the Tax Court of Canada. During his time with the Tax Court, he prepared bench memoranda and legal opinions to assist the Justice of the Court in their role of deciding tax appeals.
Following his clerkship, James was employed by PwC and then KMPG. He went on to pursue (uncompleted) a Master of Tax from the University of Waterloo and ultimately accepted a role with the Department of Justice carrying on tax litigation and conducted over a hundred trials before the Tax Court and also appearing before the Federal Court of Appeal.
Subsequently, James was hired to create a tax dispute resolution practice for the Miller Thomson’s Waterloo office. After working with Miller Thomson, James left in 2012 to form TaxationLawyers.
TaxationLawyers has expanded into a network of former Department of Justice tax lawyers that provide tax dispute services across Canada.
Tips for Dealing with the CRASaturday, January 21 — 11:30 am to 12:30 pm
As a former Department of Justice lawyer, it was always surprising how much critical information was gathered by the CRA from taxpayers' accountants and bookkeepers without them understanding the consequences of what they had given up.
In this seminar I will be going through common mistakes that come from fixable issues such as establishing an office procedure when dealing with the CRA and creating checklists when dealing with the CRA.
I will also be going through the context of CRA requests for information and documentation so you can understand what to consider giving to the CRA or not giving.
Lastly, I will be talking on considerations for the retention of documents and good practices in dealing with CRA auditors and collections officers.
James RhodesUnlicensed CRA Behaviorist
Taxation Lawyers
James Rhodes operates a boutique taxation firm, TaxationLawyers, serving clients across Canada.
TaxationLawyers focuses on representing clients in tax disputes at audits and objections against the CRA and litigating these matters to the Tax Court of Canada and Federal Court of Appeal.
TaxationLawyers also provides all types of relief sought from the CRA such as Voluntary Disclosure Program and Taxpayer Relief applications, and seeking rectification orders.
TaxationLawyers also works with accounting firms to provide audit insurance to ensure taxpayers’ returns stay statute barred and not opened for reassessment.
James received his law degree from the University of Manitoba where he received the award for the highest mark in taxation law. Subsequently, James received a prestigious clerkship with the Tax Court of Canada. During his time with the Tax Court, he prepared bench memoranda and legal opinions to assist the Justice of the Court in their role of deciding tax appeals.
Following his clerkship, James was employed by PwC and then KMPG. He went on to pursue (uncompleted) a Master of Tax from the University of Waterloo and ultimately accepted a role with the Department of Justice carrying on tax litigation and conducted over a hundred trials before the Tax Court and also appearing before the Federal Court of Appeal.
Subsequently, James was hired to create a tax dispute resolution practice for the Miller Thomson’s Waterloo office. After working with Miller Thomson, James left in 2012 to form TaxationLawyers.
TaxationLawyers has expanded into a network of former Department of Justice tax lawyers that provide tax dispute services across Canada.
Symon BurgessSymon is a seasoned professional helping companies mitigate risk and protect their balance sheets. He strives to optimize how organizations manage their cash flow, how to approach new business development and handle unforeseen circumstances.
Symon graduated from the University of Guelph in 2012 with a Bachelor of Commerce degree in Management, Economics in Industry and Finance. He has completed a professional selling program at Humber College, obtained his CSP designation through the Canadian Professional Sales Association, and is on the road to finishing the Canadian Accredited Insurance Brokers (CAIB) course.
Symon takes exceptional pride in growth, both personally and professionally. He holds himself accountable to the goals he sets and seeks to be a trusted advisor to his clientele through the education, support, and servicing of their accounts for any aspects related to insurance and risk management.
Taxation Issues for Business OwnersSaturday, January 21 — 3:00 to 4:00 pm
What do you think are the most common tax issues for business owners? Have you ever heard of an issue you have never had to deal with and aren't sure the best way to do so if it comes up in your practice? What about that weird question that comes up that you don't have a quick and easy answer for? Do you know when to fill in box 10 or box 24 on a T5 when dividends are paid out? Your ATAP board members have collaborated and have come up with some answers to these questions and more. Be part of a session that will eventually be part of ATAP's resources library.
Michael CotéCorporate Secretary, ATAP Board of Directors
Dr. Michael Coté is an Indigenous business leader. He is the strategy leader to a Worldwide team of Professionals providing Employer Services to SME/Large companies, both public and private, Not for Profit, Non-governmental Organizations and Governments. With more than 40 years of experience, Michael has built a team that gives these organizations the ability to function outside their home(domestic) market, at the same level as large companies. Having traveled to more than 200 countries, all over the world, Michael’s understanding of the different cultures and government regulations gives PSII the ability to provide compliance services in all aspects of setting up and operating the customer's entity outside their domestic operations: thus placing its global platform as SECOND to none in the marketplace. Being an equal opportunity and inclusive employer, Michael has ensured that PSII provides services in many common languages and over 100 currencies, and offering next day, Direct Deposit in 150 countries.
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