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Conducting Virtual Engagements Safely

Posted on by Graham Scott Enns  |  Posted in Graham Scott Enns, News

By Jennifer Buchanan, CPA, CA

 

Over the past year, our firm and our clients have learned a lot about conducting virtual engagements.  We have prepared electronic files for internal purposes for several years, and even prior to the pandemic had begun transmitting documents electronically in a safe and secure manner with those clients who desired it.  However, it was an adjustment to work with all our clients in an entirely virtual environment.  Many clients adopted and continue to adopt our secure portal (Login to your GSE Portal) as a method of transporting documents to and from the firm, including the ability to execute documents using DocuSign in a secure manner. We have the full capability to provide final client deliverables electronically but are also happy to continue to provide paper deliverables where desired in a safe manner.

In 2020, we also introduced video conference software to our communications mix allowing us to meet with our clients in a safe manner. It is hard to predict what the future holds, but we are ready and prepared to serve our clients virtually and wanted to share some of the things we have learned.

 

  1. Communication

Two-way, year-round communication has always been important to the client service we provide.  During the pandemic, we kept in close contact with our clients as they faced new struggles, opportunities, and interpreted the details of the many new COVID-19 related subsidies and grants. We encourage our clients to reach out throughout the year – we would love to know how things are going for you and if there is any way we can help, we will!

We try our best to provide timely information to our clients – we utilize our blog and social media to share important updates, such as new government funding and changes to CRA deadlines. We also reach out specifically to clients in advance of year-end to identify the who/what/when/how of year-end engagements.

  1. Virtual Capabilities

Prior to the pandemic, our Firm was already utilizing a secure Portal to allow clients to upload documents, and in 2020 we had many more sign-up to use this resource. The Portal is more secure than unencrypted email document exchange and allows for files to be shared in an organized and timely manner.

When face-to-face meetings are not recommended due to Public Health guidelines, we are ready with video conferencing capabilities. With the video conference facilities in place, we enjoyed being able to see our clients and share documents on-screen, but also look forward to doing so in person.

  1. Alternatives to Virtual

We understand that not all our clients have the technology or interest to fully embrace virtual interactions.  As Public Health measures have allowed, we have been able to offer secure physical drop-boxes at our offices and have been able to welcome clients into our meeting rooms. We will continue to try our best to meet the needs of our clients while following the recommendations from Public Health.

  1. Planning

For the safety of both our clients and our firm members, each engagement is carefully planned to ensure we meet client needs and deadlines, while working within Public Health guidelines. This takes careful planning to ensure clients are aware of document requirements and physical documents arrive in time.  We aim to reach out in advance of our engagements to determine preferences and make the needed preparations.

  1. Safety

For the safety of both our clients and firm members we have implemented many initiatives including:

  • Work from home for all firm members where able. Mask and distancing requirements for those who work onsite.
  • Lockdown of office facilities during times of Provincial lockdown.
  • Screening all firm members attending the offices even when not required by Provincial mandate.
  • Reconfigured reception and meeting rooms including physical barriers, screening of visitors, requirements to limit the number of visitors for meetings, mask requirements for all visitors, stringent cleaning systems as well as accommodation for vulnerable individuals.
  • Screening and implementation of safety measures for firm members when attending client locations above and beyond minimum Provincial requirements, when allowed by firm policy.
  1. Flexibility

COVID-19 has presented many logistic challenges for all industries. We have worked with clients to design alternative procedures to complete work historically performed in-person. We use new and exciting technology to share our screens, and have clients share their screens to help facilitate discussions. We recognize the importance of understanding client needs and limitations and working together on solutions – the new way of doing things may be better and we are open to that discussion!

 

If you have questions about how your upcoming year-end engagement will be prepared in our current operating environment, please reach out to your Engagement Partner or Engagement Manager.

We will continue to post operating updates on our blog and social media.

One day we will happily offer a warm handshake and cup of coffee – until then know that we are prepared to help and have many ways of continuing to serve our clients.

Ontario Small Business Support Grant

Posted on by Graham Scott Enns  |  Posted in Accounting, Community, News

Applications are now open for the new Ontario Small Business Support Grant. This grant is designed to help small businesses that are required to close or significantly restrict services under the Province wide Shutdown that came into effect December 26, 2020.

Up to $20,000 is available in the form of a grant to help cover the decrease in revenue because of the Shutdown. Businesses must be able to demonstrate that they had experienced a revenue decline of at least 20% when comparing monthly revenue in April 2019 and April 2020. Businesses established after April 2019 may also be eligible assuming they meet the other criteria.

To receive the grant, the business must meet all of the following eligibility requirements:

  • They were required to close or restrict services subject to the Province wide Shutdown effective 12:01 a.m. on December 26, 2020.
  • Have fewer than 100 employees at the enterprise level.
  • Have experienced a minimum 20 per cent revenue decline when comparing April 2020 to April 2019 revenues.

Businesses that are not eligible include those who were already required to close prior to the introduction of the modified Stage 2 measures (October 10, 2020) or essential businesses permitted to operate with capacity restrictions.

In order to apply you will need a CRA business number for your business, information about the revenue decline as well as the number of employees in the business.

For more information please visit the government of Ontario website: https://www.ontario.ca/page/businesses-get-help-covid-19-costs?fbclid=IwAR0h9CxnbUfE0CtEvslNYgUh5h59QXJePRqSIVyg1jc0hJOdT4LDUqMrbaA#section-0

To apply: https://www.app.grants.gov.on.ca/msrf/#/

T4 2020 Preparation with CEWS and TWS

Posted on by Graham Scott Enns  |  Posted in Accounting, News, Tax

Canada Emergency Wage Subsidy (CEWS)/Temporary Wage Subsidy(TWS)/T4 Preparation

As you are aware, there are many benefits that have been available to employers over the past several months. Some of these benefits will affect the way that T4s are prepared in 2020.

Canada Emergency Wage Subsidy (CEWS)
This benefit assisted employers who had a drop in revenue during the year and could apply to CRA to have a percentage of their wages reimbursed to them. This benefit requires a separate application form to CRA and will not affect the way that T4s are prepared.

The deadline to file the reports is nearing if employers have not yet filed the application. For Claim Periods 1-5 (based on March – July 2020 revenue), the deadline is January 31, 2021. Starting with Claim Period 6, the deadline is 180 days after the ending date for the application period. Period 6 covered the time from August 1-29, 2020, so the application deadline will be February 25, 2021.

Temporary Wage Subsidy (10%)
The temporary wage subsidy is a benefit, that from March 18 – June 19, 2020, reimburses you up to 10% of the remuneration you pay up to $1,375 per eligible employee. The maximum total for each employer is $25,000. This subsidy could be reduced from source deductions remitted to the government or it could be carried forward to use on future payments.

In order to reconcile the amount that was reduced for the TWS, CRA is requiring that all employers fill out a PD27 10% Temporary Wage Subsidy Self-identification Form for Employers. This form is required to be filled out by all employers who claimed either CEWS or TWS. If you claimed CEWS, but not TWS, the form needs to be filled out with a claim of 0%.

The PD27 form can be found on CRA’s website and can either be mailed to CRA or uploaded through My Business Account or Represent a Client.

T4 Preparation
While preparing the T4s for 2020, please note that there are four new boxes that need to be filled out for all employees, regardless of whether any COVID subsidies were applied for. Gross income should still be entered in Box 14 as usual, but in addition, the following boxes need to be reported to CRA:

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

The amounts reported in these boxes are based on dates paid, not when the money was earned. Therefore, if an employee earned wages from August 23-29 that were paid on September 4, the amount would be reported under Code 60.

 

We hope this information helps and feel free to contact our staff if you have any questions as always.

Application Deadlines For CEWS and CERS Quickly Approaching!

Posted on by Graham Scott Enns  |  Posted in Community, News

Canada Emergency Wage Subsidy (CEWS) and Canada Emergency Rent Subsidy (CERS) Application Deadlines

The CEWS and CERS application deadlines are quickly approaching. The deadline for all CEWS and CERS applications is the later of January 31, 2021 and 180 days after the end of the claim period.

For CEWS applications, this means that applications for claim periods 1, 2, 3, 4 and 5 will be due no later than January 31, 2021.  For CEWS claim period 6, which would cover the 4-week claim period from August 2 to August 29, 2020, the deadline to apply would be February 25, 2021 (180 days after the end of the claim period).

For CERS applications, this means that applications for claim period 1 (September 27 to October 24, 2020) is due no later than April 22, 2021 (180 days after the end of the claim period).

If you believe your business qualifies for either the CEWS and/or the CERS and have not yet applied for some or all of the earlier claim periods, please contact our office to ensure your application is filed by the application deadline.

Holiday Office Hours 2020

Posted on , Updated: by Graham Scott Enns  |  Posted in Graham Scott Enns, News

Our offices continue to be accessible by appointment only.  We will be closed at noon on December 24th.  We will be open on December 29th  and 30th with normal business hours, and will close again at noon on the 31st. We will be reopening on January 4, 2021.

During the period from December 24th, 2020 to January 8th, 2021 there will be no access to our offices by visitors. Items can be dropped off at any time during business hours into the drop-box provided. For the St. Thomas office only, from December 24th, 2020 to January 1, 2021, please call during business hours, (519) 633-0700, to arrange with reception for dropping items off as the building will be closed to the public.

If you require any assistance, please call our administrative staff or any firm member at any time.

Seasons Greetings!

COVID-19 Government Programs Update – Nov 2020

Posted on by Graham Scott Enns  |  Posted in Community, News

Many of the original Covid-19 government benefit programs have changed over the past few months to allow for easier access for many businesses.  As we continue to weather the pandemic together in our community, it is important to keep abreast of these changes and to ensure businesses can access these programs fully.

For our valued community we have put together a summary page outlining a few of the key COVID-19 Government Benefit Programs including some related forms and deadlines to help with that goal.

Should you have specific questions on any of the programs, or need assistance in completing any forms or applications, please do not hesitate to contact our office.

Government Benefit Programs November Update

Congratulations Blake!

Posted on , Updated: by Graham Scott Enns  |  Posted in Graham Scott Enns, News

Celebrating the success of a hard-working colleague, and watching their progress as they learn and grow, is one of the most rewarding journeys business teams take together.  Today at Graham Scott Enns LLP, the Partners and staff are ecstatic to acknowledge how far Blake Gough has come in his own journey by announcing his immediate promotion to the role of Manager!

Through years of exemplary customer-service, dedication to hard-work, and with his passion for making the firm a better place to be, Blake has shown that he is an integral member of the GSE family and community, and one of our brightest up-and-coming stars.  He has well-earned this new role.

“Blake Gough provides attentive professional service to many of our clients. He works seamlessly across a diverse range of industries including not-for-profit, municipalities, owner-managed smaller business, professional corporations, and personal tax clients.  Within our Firm, Blake is actively involved in organizing staff social events and training junior staff members.  Blake is a most welcome addition to our manager team.  Congratulations Blake!”

Jennifer Buchanan
Partner

We wish to congratulate Blake at the start of this exciting new stage of his career, and we encourage everyone to take this opportunity to celebrate Blake’s accomplishments!