Belmonte Léger SEP

Belmonte Léger SEP Financial Reporting, Assurance, Taxation, SR&ED, Corporate Finance & Advisory
Rapport financiers, Au

The mission of Belmonte, Léger and Associates is to remain a recognized leader in the area of consulting services to companies, distinguish itself by the competence and the integrity of its consultants and to maintain cordial relationships with his clients, based on confidence

Les objectifs de Belmonte, Léger et Associés sont de demeurer un leader reconnu dans le domaine des services-conseil aux

entreprises, de se distinguer par la compétence et l'intégrité de ses conseillers et de maintenir des relations cordiales avec ses clients.

🇨🇦 The federal fuel excise tax suspension was scheduled to end September 7, with the tax returning September 8.But accor...
09/02/2026

🇨🇦 The federal fuel excise tax suspension was scheduled to end September 7, with the tax returning September 8.
But according to reports today, the federal government is extending the tax holiday until January 31, 2027.
That means the federal excise tax will remain suspended:
⛽ Gasoline: 10¢ per litre
🚛 Diesel: 4¢ per litre
For someone filling a 50-litre gas tank, that's about $5 in federal excise tax avoided per fill-up.
But the bigger conversation goes well beyond what we pay at the pump.
Diesel powers the trucks moving our food.
Fuel costs affect construction, agriculture, deliveries and countless businesses costs that can ultimately work their way through the supply chain.
And perhaps the bigger question...
👉 Will Canadians actually feel the difference in their wallets or are fuel prices still too high for 10 cents a litre to make a meaningful impact?

📢 New Month. New Financial Priorities.September marks the beginning of the final stretch of the year and a good opportun...
09/01/2026

📢 New Month. New Financial Priorities.
September marks the beginning of the final stretch of the year and a good opportunity for business owners to review where they stand financially.
ℹ️ Before Q4 begins, take some time to look at:
✔️ Cash flow: Are revenues and expenses tracking as expected?
✔️ Tax instalments: Are upcoming payments accounted for in your cash-flow planning?
✔️ Payroll obligations: Are deductions, remittances and records up to date?
✔️ Year end planning: Are there financial or tax decisions that should be considered before December?
👉 Good year-end planning doesn't start in December. Reviewing your numbers now gives you more time to identify issues, evaluate opportunities and make informed decisions before the year comes to a close.
A strong finish to 2026 starts with knowing where you stand today. ✨

📋 Did you forget to file a GST/HST return?Don't panic and don't ignore it.If you have an outstanding GST/HST return, it'...
08/31/2026

📋 Did you forget to file a GST/HST return?
Don't panic and don't ignore it.
If you have an outstanding GST/HST return, it's never too late to get caught up. The CRA provides filing options for businesses in different situations, including those with overdue returns or payments.
💡 Why act now?
Outstanding returns can lead to penalties and interest
Filing helps bring your GST/HST account up to date
Payments can be made once you determine what you owe
Staying current helps keep your business in good standing
The important thing is to address the issue rather than let it accumulate.
👉 The CRA provides guidance on how to file your GST/HST return, regardless of your situation.
🔗 More Information 👇
https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/gst-hst-businesses/file-gst-hst-return.html
🔗 Version française 👇
https://www.canada.ca/fr/agence-revenu/services/impot/entreprises/sujets/tps-tvh-entreprises/produire-declaration-tps-tvh.html

📢 Canada is responding to U.S. tariffs and Canadian businesses are getting targeted support.With new U.S. tariffs affect...
08/28/2026

📢 Canada is responding to U.S. tariffs and Canadian businesses are getting targeted support.
With new U.S. tariffs affecting $27.6 billion of Canadian goods, the federal government has announced additional countermeasures and support for workers and businesses impacted by the trade conflict.
👇 For businesses, the response includes:
- Support for affected workers and employers
- Financial programs for businesses facing tariff-related impacts
- Support for strategic industries and investment
- Help for Canadian exporters looking to diversify into other markets
- Measures designed to strengthen Canada's economic resilience
👉 The government has also confirmed that, effective September 8, Canada will impose matching counter-tariffs of 15%, 25% and 50% on selected U.S. products, covering approximately $27.6 billion in imports.
ℹ️ For Canadian businesses, this is more than a trade-policy story.
It's a reminder to review:
- Supply chains
- Pricing and margins
- U.S. market exposure
- Alternative suppliers and markets
- Cash flow and financing
- Available government support
🔗 Source of information 👇
https://www.canada.ca/en/department-finance/news/2026/08/the-governement-of-canada-highlights-targeted-countermeasures-and-substantive-support-for-workers-and-businesses-in-response-to-us-tariffs.html
🔗 Version française 👇
https://www.canada.ca/fr/ministere-finances/nouvelles/2026/08/le-gouvernement-du-canada-souligne-les-contre-mesures-ciblees-et-les-mesures-importantes-prises-pour-soutenir-les-travailleurs-et-les-entreprises-en.html

📢  A small tax mistake can become a much bigger bill.A recent case highlighted by Financial Post is a good reminder that...
08/27/2026

📢 A small tax mistake can become a much bigger bill.
A recent case highlighted by Financial Post is a good reminder that late tax filings, unpaid balances and accumulating interest can add up quickly.
👇 For Canadians, the CRA can impose:
◾ Late-filing penalty:
5% of the balance owing, plus 1% for each full month late, up to 12 months.
◾ Repeated late filing penalty:
10% of the balance owing, plus 2% for each full month late, up to 20 months, in certain circumstances.
◾ Interest:
compound daily interest can apply to unpaid amounts starting the day after the payment deadline.
ℹ️ If you can't pay your tax bill in full, file your return on time anyway. Filing on time can prevent the late filing penalty from being added to the amount you already owe.
👉 A missed deadline today can become an expensive problem tomorrow.

🔗 Source of information: Financial Post.

📋 Employers: are you up to date on your payroll obligations?The CRA’s T4001, Employers’ Guide: Payroll Deductions and Re...
08/26/2026

📋 Employers: are you up to date on your payroll obligations?
The CRA’s T4001, Employers’ Guide: Payroll Deductions and Remittances provides employers, trustees and payers with guidance on deducting and remitting:
- Income tax
- CPP contributions
-️ EI premiums
The guide is designed to help employers correctly calculate payroll deductions and understand their remittance responsibilities.
For businesses, payroll compliance isn't just about paying employees it’s about getting the deductions, remittances and reporting right.
👉 A payroll error can become a costly compliance issue.
Staying current with CRA requirements can help prevent surprises.
🔗 More Information 👇
https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4001.html
🔗 Version française 👇
https://www.canada.ca/fr/agence-revenu/services/formulaires-publications/publications/t4001.html

💰 Retirement is supposed to be about enjoying the money you've spent decades saving not discovering unexpected tax conse...
08/25/2026

💰 Retirement is supposed to be about enjoying the money you've spent decades saving not discovering unexpected tax consequences along the way.

For Canadian retirees, the way retirement income is withdrawn, timed and coordinated can make a significant difference.

Watch out for:
📌 RRIF withdrawals: mandatory withdrawals increase with age and are fully taxable.
📌 OAS clawback: higher net income can reduce Old Age Security benefits.
📌 Large one-time withdrawals: taking out too much in a single year can push you into a higher tax bracket.
📌 Investment income: interest, dividends and capital gains can affect your overall tax picture.
📌 Estate taxes: RRSPs and RRIFs can create a substantial tax liability at death.

💡 Good retirement planning doesn't stop when you retire. That's when tax planning becomes even more important.

Let's Connect 😊
📲 514.383.4858
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📢 Canadian businesses are feeling the pressure. The latest U.S. tariffs on Canadian goods are creating a new challenge f...
08/24/2026

📢 Canadian businesses are feeling the pressure. The latest U.S. tariffs on Canadian goods are creating a new challenge for businesses already dealing with months of unpredictable trade policy.

According to News:
📉 40% of small exporters sell products included on the new tariff list.

📊 One-third of those businesses expect their sales to decline by 50% or more.

💼 Businesses are delaying investments, hiring and new product launches because they don't know what the next tariff change will bring.

And it's not just exporters.

One Canadian candle manufacturer described the impact as a “domino effect” even Canadian suppliers can be affected when they depend on the U.S. market.

The bigger question now is whether Canadian companies can use this moment to diversify markets, strengthen domestic supply chains and reduce their dependence on a single trading partner.

🔗 Source of information Global News

📢 Good news for Canadian small businesses!The Canada Carbon Rebate for Small Businesses is now officially non-taxable fo...
08/21/2026

📢 Good news for Canadian small businesses!
The Canada Carbon Rebate for Small Businesses is now officially non-taxable for all fuel charge years.

The legislation passed confirming that eligible rebates will not be included in taxable income.

What does this mean for businesses?
✅ The rebate is non-taxable for all applicable fuel charge years
✅ The final payment relates to the 2024–2025 fuel charge year
✅ If a business previously included the rebate in taxable income, the CRA is reviewing T2 returns and may make adjustments automatically in certain cases.
✅ Eligible businesses don't need to apply the CRA issues the rebate automatically when eligibility requirements are met.

📌 If your corporation previously reported the rebate as taxable income, it's worth reviewing your tax return and CRA correspondence to determine whether any adjustment is required.

For business owners, understanding how these changes affect your corporate tax return can make a real difference.

🔗 More Information 👇
https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/corporations/business-tax-credits/canada-carbon-rebate-small-businesses/tax-treatment-rebate.html?utm_content=2026-04-09_2198

🔗 Version Française 👇
https://www.canada.ca/fr/agence-revenu/services/impot/entreprises/sujets/societes/credits-dimpot-entreprises/remise-canadienne-carbone-petites-entreprises/traitement-fiscal-remise.html

📢 The Canada Child Benefit (CCB) was issued today for the month of August. The amount is increasing for the 2026–2027 be...
08/20/2026

📢 The Canada Child Benefit (CCB) was issued today for the month of August. The amount is increasing for the 2026–2027 benefit year, providing more tax-free support to help families manage the rising cost of raising children.

👉 Eligible families can receive up to:
👶 $8,157 per year ($679.75/month) for each child under 6
🧒 $6,883 per year ($573.58/month) for each child aged 6 to 17

The annual increase represents up to:
✅ +$160 per child under age 6
✅ +$135 per child aged 6 to 17

🔹 Why It Matters
✔️ Tax-free monthly financial support
✔️ Helps families manage the rising cost of raising children
✔️ Benefit amounts are reviewed and adjusted periodically to reflect economic conditions

🔹 Who Can Receive It?
• Families with children under 18 years of age
• Must be a resident of Canada for tax purposes
• Eligibility and payment amounts are based on family net income and other factors

🔹 Additional Support
Families caring for a child eligible for the Disability Tax Credit may also qualify for the Child Disability Benefit, providing additional monthly assistance.

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