McGillivray & Co. CPA

At McGillivray & Co. CPA, we are more than routine annual filing, we believe in crafting relationships with small business owners and providing financial clarity for your personal and business success.

A good foundation helps keep your business going in the right direction. Part of that is an accountant you can trust. We provide business advice and accounting for individuals and small businesses. Let us help you you grow!

Understand your tax position and make informed decisions about compensation & expenses. We help you prepare and plan for your future.

Looking for assistance? We cover tax preparation, financial statements, bookkeeping, or even strategic business planning. Looking for advice? How about some advice you can trust.

Effective October 1, 2026, BC PST (7%) will apply the the following services:

☑️Accounting services, including bookkeeping and assurance services
☑️Architectural services
☑️Engineering and geoscience services
☑️Security services, including private investigation services
☑️Non-residential real estate services, including trading services, rental property management services and strata management services

Note: Under the proposed legislation, the BC PST on architectural, engineering and geoscience services will apply to 30% of the purchase price of those services.

What does this mean to consumers?

☑️You will see an increase in to the tax amount on your invoices as taxes will be both PST and GST.

For suppliers of these services

☑️You will need to collect and remit BC PST to the province of B.C.
☑️If you are not already registered to collect and remit BC PST, you will need to register.

For more detail, visit

Notice 2026-001: Notice to providers of professional services PST Notice to providers of professional services - Budget 2026 announcement

Selling your principal residence in Canada can be a seamless and rewarding experience when handled strategically. As the primary home where you and your family live, your principal residence may qualify for the principal residence exemption, potentially allowing you to avoid paying capital gains tax on the sale.

A few key points to keep in mind:
✅ Only one property per family unit can be designated per year.
✅ Keep records of purchase price, improvements, and sale details.
✅ Proper reporting is required on your tax return, even if the exemption applies.

Our team of accounting professionals can guide you through the rules and help ensure you maximize your tax benefits. Contact us at (250) 808-8984 to make sure your home sale is handled correctly.

On January 26, 2026 Prime Minister Mark Carney, announced the new Canada Groceries and Essentials Benefit (CGEB). This benefit plan will replace the Goods and Services Tax (GST) credit.

The CGEB will provide:
√ A one-time payment of 50% top-up in the spring of 2026
√ 25% increase over the next 5 years as of July 2026

The amount that you are entitled to is based on your income and the number of children.

According to Canada Revenue Agency's website:

"Under the proposed changes:

A single senior with $25,000 in net income would receive a one-time top-up of $267 plus a longer-term increase of $136 for the 2026-27 benefit year (total increase of $402). In total, they would receive $950 for the 2026-27 benefit year (including the top-up).

A couple with two children with $40,000 in net income would receive a one-time top-up of $533 plus an increase of $272 for the 2026-27 benefit year (total increase of $805). In total, they would receive $1,890 for the 2026-27 benefit year (including the top-up)."

https://www.canada.ca/en/department-finance/news/2026/01/the-new-canada-groceries-and-essentials-benefit.html

If you are entitled to the CGEB, you do not need to apply for CGEB benefit however, you will receive the benefit based on your income tax return.

If you need assistance with filing your 2025 return, call us at 250-808-8984.

Call now to connect with business.

We’re excited to share that we now have a page!

Welcome to McGillivray & Co. CPA (M & Co.) !

We put our clients first and will work to earn your trust as your business advisor by crafting relationships with small business owners for your personal and business success.

Our services include:

* Compiled Financial Information
* Corporate and personal tax filing
* Bookkeeping and payroll
* Business consulting
* CRA support and tax planning

Our page will share updates, insights, helpful accounting tips and information to better support you and your business.

We are now accepting new clients.

Whether you're just starting up or have been operating for years, we can help you with all your taxation and financial needs.

Looking forward to working with you.

Think Different, Think Financial Clarity