Brock-Simcoe Accounting Professional Corporation

Brock-Simcoe Accounting Professional Corporation Accounting Services, Taxation Services, Compliance Services, Consulting Services. For Individuals, Businesses, and Non-Profit Organizations.

Our summer hours kick in starting June 1 at both offices!
05/29/2026

Our summer hours kick in starting June 1 at both offices!

05/14/2026

📢 Attention small and medium businesses! Canada Business

The Canada Carbon Rebate for Small Businesses is now non-taxable for all fuel charge years.

Here’s what this means for your business:

➡️ If you filed your T2 Corporation Income Tax Return before June 30th, 2025, and your rebate was clearly reported on Line 295 of Schedule 1, we’ll adjust your return automatically to remove the rebate from your taxable income. No further action is needed.
➡️If you filed your T2 return after June 30th, 2025, and included the rebate in your taxable income, you’ll need to submit an adjustment request.

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

[Image description: A person sands a chair. The text: “The Canada Carbon Rebate for Small Businesses“]

Both of our offices will be closed on Monday May 18 for Victoria Day Long Weekend!
05/14/2026

Both of our offices will be closed on Monday May 18 for Victoria Day Long Weekend!

So you received a notice from CRA indicating that "Your authorized representative with Canada Revenue Agency (CRA) has c...
05/01/2026

So you received a notice from CRA indicating that "Your authorized representative with Canada Revenue Agency (CRA) has changed" and you're concerned because you had not changed anything.

Don't panic! Every year when we file your tax return we indicate in the filing that if CRA has any questions they can contact our offices. This annual notification to CRA will trigger this notice even though nothing actually "changed".

A pain in the but? Yes.

As tax season 2026 officially closes out (but not really) we want to thank our hard working staff at both of our offices...
04/30/2026

As tax season 2026 officially closes out (but not really) we want to thank our hard working staff at both of our offices. Many hours and much work to serve our valued clients.

A very special thank you to everyone including our Orillia co-op student who leaves our office today after three successful work terms with us.

Regular hours at both of our offices are back in effect tomorrow. Of course tax work continues for many clients including sole proprietors, partnerships, corporations, and trusts.

Happy May 1st!

Yet another lesson that you can't hide the cash transactions and that keeping good books and records is critically impor...
04/03/2026

Yet another lesson that you can't hide the cash transactions and that keeping good books and records is critically important.

Convenience store owners were subject to net worth audits since their records were poor and the numbers "did not add up".

Not reporting cash and "plugging" numbers into the books to make things balance will only lead to trouble. Compound that by the owner/shareholder not properly reporting his income from the company.

So in the end they will have to pay the tax they tried to evade in the first place PLUS substantial penalties for failure to report income and interest on that. And add to that the legal bills and the fact CRA will be keeping a close eye on them in the future.

I wonder if he thinks having shabby accounting records and hiding cash really worked out all that well for him afterall?

INTERESTING!Yes you must report interest earned even if you did not get that T5 slip (or other tax slip). Banks do not ...
04/01/2026

INTERESTING!

Yes you must report interest earned even if you did not get that T5 slip (or other tax slip). Banks do not have to issue a T5 if the interest is below a prescribed amount ($50). However you must still report the interest.

On the topic of interest.... if someone owes you money and there is interest charged on the debt then remember you must claim that interest even if it was not yet paid. Interest must be reported on an annual basis (that can be calendar or fiscal).

Also, "interesting enough" any refund interest paid to you by CRA must also be reported on your tax return.

Of course interest earned on qualifying TFSA investments are not reportable or taxable.

02/21/2026

Join us for our upcoming FREE business tax seminar - an exiting night of accounting and taxation information for business owners!

Exciting....taxes? But seriously - we know that no one loves doing taxes, but we can help make it a lot easier!
Join us to learn some great info that will make the upcoming tax season a whole lot easier for your small business or non-profit. Generously hosted by Walter Schummer, owner of Brock-Simcoe Accounting Professional Corporation, he will take you through an overview of what you need to know, and answer your questions.

Wedensday March 18th at 6pm.
Get your free tickets through Eventbrite here:
https://tinyurl.com/bdzf59uw

Generously sponsored by:
Moonflower's
Richwood Contracting
Cameron House

Both of our offices will be closed on February 16 for Family Day.If you're feeling productive over the weekend and want ...
02/11/2026

Both of our offices will be closed on February 16 for Family Day.

If you're feeling productive over the weekend and want to get your taxes to us you can utilize the many electronic document submission systems we have in place including our secure online portal system for clients...... If you're feeling productive.

2026 TAX SEASONClients will be receiving their annual tax newsletter and their 2025 T1 Client Information and Confirmati...
01/19/2026

2026 TAX SEASON

Clients will be receiving their annual tax newsletter and their 2025 T1 Client Information and Confirmation paperwork in the next couple of weeks.

Clients registered for our secure online portal will receive theirs first, followed by email clients and finally clients still preferring "snail mail".

The Client Information and Confirmation paperwork is a crucial document we request our clients to complete to ensure that their T1 Returns are accurate and timely prepared. Completing the return also allows our offices to make sure clients receive any applicable billing discounts they may be entitled to.

Address

102 Peace Street Cannington Ontario & 3 Progress Drive Unit 7 Orillia
Orillia, ON

Telephone

705-432-8449 705-329-2570

Website

Alerts

Be the first to know and let us send you an email when Brock-Simcoe Accounting Professional Corporation posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The Business

Send a message to Brock-Simcoe Accounting Professional Corporation:

Shortcuts

Share

Category