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Clearline Chartered Professional Accountants

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Clearline Chartered Professional Accountants

Accountants by trade. Advisors by choice. At Clearline CPA, we are committed to helping our clients

Clearline Chartered Professional Accountants is an accounting firm based in Surrey and Vancouver, dedicated to bringing clarity, strategy and confidence to your finances. From helping you start a new venture or grow an existing business, to ensuring you feel confident in your estate or family planning decisions, our team of accounting professionals is here to help. We pride ourselves on staying up to date with the latest accounting and tax information, and apply our extensive experience and knowledge to create the utmost value. We know every financial story is unique, and take care to ensure every client reaches their fullest potential.

09/23/2026

Most professionals set up their compensation structure when they first incorporate and don't revisit it for years. That could be a costly habit.

The right salary and/or dividend mix changes as your income grows, your RRSP room changes, and your personal situation evolves. A structure that made sense at year one may not be the right mix in year five.

Common issues include failing to plan for life events that require more cash, such as buying a house, or less cash, such as retirement.

Your compensation should be modelled against your actual numbers every year, not carried forward from a decision made when the practice or business was new.

Talk to the Clearline team about whether your current approach still makes sense. https://www.clearlinecpa.ca/incorporated-investment-advisor-compensation-ciro/

09/21/2026

Scientific Research & Experimental Development (SR&ED) tax credits can be some of the most valuable incentives available to Canadian businesses, but claims that are allowed after a CRA review, share one thing in common: they're documented in real time, not reconstructed at year-end.

CRA reviewers look for records created during the work: project logs, timesheets, and technical notes. Many claims are not allowed because the supporting documentation is missing.

If your team is doing product development, process improvement, or technical problem-solving, the time to start tracking is now, not next spring.

Connect with the Clearline team to make sure your SR&ED documentation is claim-ready. https://www.clearlinecpa.ca/manufacturing-wholesale-and-retail/

09/17/2026

Real Estate Limited Partnerships: Don’t Overlook GST/HST on Management Fees

If you own an interest in a real estate limited partnership (LP), an overlooked GST/HST issue could result in an unexpected Canada Revenue Agency (CRA) assessment.

When a real estate LP pays management or administrative fees to a related company, those payments may be consideration for taxable management services. The related company may therefore be required to charge, collect, and remit GST/HST—even if it did not issue an invoice showing the tax.

The absence of an invoice does not mean GST/HST is not payable. This is generally not a situation in which the LP “charges itself” GST/HST. In most cases, the company supplying the management services is responsible for collecting and remitting the tax.

The LP’s ability to recover GST/HST through input tax credits depends on its registration status and whether the services are used in commercial activities.

The tax treatment depends on several factors:

• Whether the related company is also a partner in the LP
• Whether payments are service fees or partnership profit allocations
• How the partnership agreement characterizes the payments
• Whether the LP earns taxable commercial rent or exempt residential rent
• Whether the LP is eligible to claim input tax credits

Related-party fee arrangements should be reviewed before the CRA identifies unreported GST/HST and assesses tax, interest, or penalties.

Key takeaway: The absence of an invoice does not automatically eliminate a GST/HST obligation.

Reach out to the Clearline team and we'll take a look at your situation: https://www.clearlinecpa.ca/get-in-touch/

09/15/2026

If you are a nonprofit board member, you've likely reviewed your organization's financial statements. But do you know what they actually cover—or the level of assurance they provide?

A compiled financial statement is not an audit or a review. In a compilation engagement, an accountant prepares financial information using information provided by management. No assurance is provided.

Canadian compilation engagement standards require this distinction to be clearly communicated, helping board members and other readers understand what they can—and cannot—rely on.

For nonprofits using compiled financial statements for grant applications, donor reporting, funding requirements, or board decisions, that distinction matters.

You don’t need to be an accountant to provide effective financial oversight. But you should understand the type of financial reporting in front of you and know which questions to ask.

Is your nonprofit’s financial reporting meeting the needs of your board, funders, and donors?

Clearline CPA works with nonprofits and charities across British Columbia to make financial reporting easier to understand.

Learn more: https://www.clearlinecpa.ca/npos-and-charities/

09/10/2026

B.C. PST on Accounting Services: 7% Tax Starts October 1, 2026

Effective October 1, 2026, British Columbia will apply 7% provincial sales tax (PST) to most taxable accounting services.

The change covers bookkeeping, payroll, financial statement preparation, tax returns, assurance services, account reconciliation, tax advice, and representation.

PST may also apply when accounting services are performed outside British Columbia but relate to B.C. clients, property, activities, or transactions. Certain exemptions may be available, including for qualifying cross-border, resale, estate, bankruptcy, and liquidation services.

Accounting firms should review their PST registration requirements and update invoices, engagement letters, contracts, and billing systems. Special attention should be given to cross-border work and engagements spanning October 1, as transitional rules may affect whether PST applies.

Clients should also plan for a potential 7% increase in the cost of affected accounting services.

Read the official B.C. government guidance: https://www2.gov.bc.ca/gov/content/taxes/sales-taxes/pst/publications/accounting-services or visit https://clearlinecpa.ca/ for more information.

09/08/2026

When the Mortgage Services Act takes effect on October 13, 2026, your brokerage will need to file annual financial statements with BCFSA if it administers mortgages, provides mortgage lending, or maintains a trust account. Statements must be filed within 120 days of your fiscal year-end.

Here's the key change: compiled financial statements will no longer automatically satisfy the requirement. Most brokerages will need an independent accountant to perform a review engagement—a higher standard than many are currently meeting.

A few things worth knowing:
- Public-company brokerages require audited financial statements
- Compilation statements require Superintendent authorization, which comes with specific conditions
- Even if your brokerage doesn't hold trust money, you may still need reviewed financial statements based on the services you provide

This is a meaningful shift from the current framework and the deadline is closer than it looks.

If you're a mortgage brokerage in BC, now is the time to confirm whether these requirements apply to you and what level of reporting you'll need.

Reach out to the Clearline team before your first BCFSA filing deadline. https://www.clearlinecpa.ca/real-estate-property-management/

09/03/2026

B.C. businesses: significant PST changes are coming for service providers

Effective October 1, 2026, British Columbia will expand PST to several professional services that are not currently taxable:

• Accounting services — 7%
• Non-residential real-estate services — 7%
• Security and private-investigation services — 7%
• Architectural services — effective rate of 2.1%
• Engineering and geoscience services — effective rate of 2.1%

Taxable accounting services will include bookkeeping, payroll, financial-statement and tax-return preparation, audits, reviews, account reconciliation, and tax advice or representation.

The new real-estate rules will apply to qualifying trading, rental-property management, and strata-management services involving non-residential property. Residential real-estate services, rent, and strata fees are not included.

PST will generally apply when payment is made or becomes due on or after October 1, 2026. Special transitional rules may affect contracts and payments spanning the effective date.

Service providers should review their contracts, billing practices, accounting systems, and PST registration requirements. Clients purchasing these services should also budget for the additional cost, as PST generally cannot be recovered through input tax credits.

Contact our team to discuss how these changes may affect your business. https://www.clearlinecpa.ca/get-in-touch/

09/01/2026

The Trade-Offs Behind Alter Ego and Joint Partner Trusts

Alter Ego and Joint Partner Trusts offer real benefits but they come with complexity that's worth understanding before moving forward.

These trusts require legal setup, ongoing administration, and annual T3 filings, costs that can outweigh the benefits for more modest estates. There's also a tax nuance many don't expect: while assets transfer in on a tax-deferred basis, a deemed disposition typically occurs on the settlor's death (or the surviving spouse's, in a Joint Partner Trust), which can trigger capital gains within the trust itself. Income retained in the trust is also generally taxed at the highest marginal rate.

For blended families or those wanting more certainty around how assets are distributed, there is an added advantage as the will variation provisions contained in BC’s WESA don't apply to these trusts so they offer greater confidence that your wishes will be honoured as intended.

The right fit depends on the size of your estate, your family structure, and your long-term goals.

Read our article on Alter Ego and Joint Partner Trusts, or talk to the Clearline team about whether this strategy aligns with your estate planning objectives.
https://www.clearlinecpa.ca/alter-ego-trusts-and-joint-partner-trusts-valuable-estate-planning-tool/
https://www.clearlinecpa.ca/get-in-touch/

08/27/2026

Mid-year tax planning check -in: what business owners should review before Q3 ends

By the time December arrives, most tax planning decisions have already been made or missed.

The fall planning meeting is where the real work happens. Working from your year-to-date results, we project full-year income, model the optimal salary and dividend split for your specific situation, and set the compensation decisions that need to be in place before December 31st.

This isn't a year-end checklist. It covers RRSP room, CPP position, passive income levels relative to the small business deduction threshold, family distributions where applicable, and any structural changes that should be in place heading into the new year.

Being proactive here matters more than it seems. A mid-year check-in gives you room to actually act on what comes up — adjust compensation, restructure before a threshold is crossed, catch a problem while there are still options. Waiting until year-end turns every finding into a scramble, or worse, something that can't be fixed retroactively.

The clients who get the most from tax planning review this at Q3 — not once the books close in December.

If you don't have a mid-year check-in booked with your advisor, now's the time.

Book a consultation: https://www.clearlinecpa.ca/get-in-touch/

08/25/2026

Why cash flow forecasting looks different for contractors than other businesses

Cash flow forecasting for contractors doesn't work like it does for most businesses — and applying a standard model gets owners in trouble.

Most businesses forecast off relatively steady, predictable revenue. Contractors don't have that. Revenue is lumpy, tied to project milestones, holdbacks, and progress billing schedules that can lag actual work by 30, 60, sometimes 90 or more days. You can be profitable on paper and still be cash-poor for months.

Add statutory holdbacks (typically 10% in BC, held until lien period expiry), WIP that isn't billed yet, and subcontractor payments that often come due before your own invoices get paid — and a generic 12-month forecast tells you almost nothing useful.

Contractors need forecasting built around project-level cash timing, not just monthly revenue averages.

If your forecasting doesn't account for holdbacks and billing lag, it's not actually forecasting.

The Clearline team works with business owners to build forecasting that works for you. Let's connect: https://www.clearlinecpa.ca/get-in-touch/
More on cash flow for contractors: https://www.clearlinecpa.ca/construction/

Address

211-5577 153A Street
Surrey, BC
V3S5K7

Opening Hours

Monday	9am - 5pm
Tuesday	9am - 5pm
Wednesday	9am - 5pm
Thursday	9am - 5pm
Friday	9am - 5pm

Telephone

+16046390909

Website

http://www.clearlinecpa.ca/

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