CMD Accounting Services Inc.

𝗜𝘁’𝘀 𝘁𝗵𝗲 𝗟𝗮𝗯𝗼𝘂𝗿 𝗗𝗮𝘆 𝗹𝗼𝗻𝗴 𝘄𝗲𝗲𝗸𝗲𝗻𝗱!

CMD’s office will be closed for the long weekend. We appreciate your understanding and will respond to inquiries when we return on Tuesday September 8th at 9am

𝗦𝘁𝗮𝗿𝘁𝗶𝗻𝗴 𝗦𝗲𝗽𝘁𝗲𝗺𝗯𝗲𝗿 𝟴𝘁𝗵 𝗼𝘂𝗿 𝗼𝗳𝗳𝗶𝗰𝗲 𝗵𝗼𝘂rs 𝘄𝗶𝗹𝗹 𝗯𝗲:

◆ Monday to Thursday 9am to 5pm and Fridays 9am to 4pm
◆ We are closed Saturdays, Sundays and all statutory holidays

𝗖𝗠𝗗 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗶𝗻𝗴 𝗦𝗲𝗿𝘃𝗶𝗰𝗲𝘀 𝗜𝗻𝗰. offers exceptional accounting and tax services tailored for small and medium-sized businesses. Our dedicated team simplifies your accounting processes, allowing you to focus on growing your business.

𝗟𝗲𝘁 𝘂𝘀 𝗺𝗮𝗻𝗮𝗴𝗲 𝘁𝗵𝗲 𝗻𝘂𝗺𝗯𝗲𝗿𝘀 𝘀𝗼 𝘆𝗼𝘂 𝗰𝗮𝗻 𝘀𝗲𝗶𝘇𝗲 𝗲𝘃𝗲𝗿𝘆 𝗼𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝘆!

Are you aware of an important tax change announced by the province that will affect businesses purchasing professional services, including accounting services?

Effective October 1, 2026, a Provincial Sales Tax (PST) of 7% will apply to accounting services, including bookkeeping, assurance, tax, advisory, and other accounting-related services.

For many businesses, this represents a new cost on professional services that were previously not subject to PST. While our professional fees are not changing as a result of this legislation, the application of PST means that the total amount payable on future invoices will increase by the applicable tax.

CMD wanted to provide advance notice so that you can incorporate this change into your budgeting and planning processes well before the October 1 effective date.

You can find the official notice on the Government of British Columbia’s website.--> https://www2.gov.bc.ca/gov/content/taxes/sales-taxes/pst/publications/notice-professional-services

The staff and management at CMD Accounting Services Inc offer our deepest sympathy and condolences to everyone affected by the devastating 2026 BC wildfires.

We also give thanks and praise to all the local and international firefighters on the ground and in the air, first responders and volunteers who are doing so much to provide support during this difficult time.

𝗪𝗵𝗮𝘁 𝗶𝘀 𝘁𝗵𝗶𝘀 𝗖𝗹𝗮𝘀𝘀 𝗔𝗰𝘁𝗶𝗼𝗻 𝗮𝗯𝗼𝘂𝘁?
The lawsuit alleges that inadequate safeguards allowed unauthorized third parties to access confidential personal and financial information in Government of Canada Online Accounts, including CRA "My Account," My Service Canada accounts, and other accounts accessed using GCKey. In some cases, fraudulent applications for benefits were made. The Government of Canada denies any wrongdoing.

𝗨𝗽𝗱𝗮𝘁𝗲
The claims period is now open. Eligible class members can submit their claims online or by mail until February 3, 2027.

𝗪𝗵𝗼 𝗶𝘀 𝗶𝗻𝗰𝗹𝘂𝗱𝗲𝗱?
You are a Class Member if your personal or financial information in a Government of Canada Online Account was disclosed to a third party without authorization between March 1, 2020, and December 31, 2020.

𝗠𝗼𝗿𝗲 𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 →https://www.breachsettlementcanada.kpmg.ca/en/details

𝗖𝗠𝗗 𝘄𝗼𝘂𝗹𝗱 𝗹𝗶𝗸𝗲 𝘁𝗼 𝘄𝗶𝘀𝗵 𝗲𝘃𝗲𝗿𝘆𝗼𝗻𝗲 𝗮 𝗛𝗮𝗽𝗽𝘆 𝗮𝗻𝗱 𝗦𝗮𝗳𝗲 𝗕𝗖 𝗗𝗮𝘆 𝗹𝗼𝗻𝗴 𝘄𝗲𝗲𝗸𝗲𝗻𝗱!

Our office will be closed Monday, August 3rd, for the long weekend, and we will open Tuesday, August 4th, at 9 a.m

𝗗𝗲𝗽𝗮𝗿𝘁𝗺𝗲𝗻𝘁 𝗼𝗳 𝗙𝗶𝗻𝗮𝗻𝗰𝗲 𝗖𝗮𝗻𝗮𝗱𝗮 - 𝗙𝗿𝗮𝘂𝗱 𝗔𝗹𝗲𝗿𝘁

We encourage Canadians to stay alert for scams using the Canada Strong Fund name. The Fund is not currently open for public investment. Details on how to participate as a retail investor will be provided by the federal government in the fall.

The Government of Canada will not ask people to register through YouTube ads, QR codes, cold calls, or third-party investment platforms. https://ow.ly/S02o50Zq4Tc

Never share personal or financial information through ads or links and report any suspected fraud to the Canadian Anti-Fraud Centre: https://ow.ly/i31M50Zq4T8

𝗡𝗲𝘄 𝗿𝘂𝗹𝗲𝘀 aimed at increasing transparency regarding the beneficial ownership of assets held through bare trust arrangements have been enacted. They will apply to taxation years ending on and after December 31, 2026. These changes may catch 𝗺𝗮𝗻𝘆 𝗶𝗻𝗱𝗶𝘃𝗶𝗱𝘂𝗮𝗹𝘀 𝗮𝗻𝗱 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀𝗲𝘀 𝘁𝗵𝗮𝘁 𝗮𝗿𝗲 𝘂𝗻𝗮𝘄𝗮𝗿𝗲 of their trust-like relationships, exposing them to potential 𝗽𝗲𝗻𝗮𝗹𝘁𝗶𝗲𝘀 and other consequences for non-compliance.

A trust arrangement generally exists where the registered owner of an asset holds 𝗹𝗲𝗴𝗮𝗹 𝘁𝗶𝘁𝗹𝗲 𝗼𝗻 𝗯𝗲𝗵𝗮𝗹𝗳 of another person or entity that is the 𝘁𝗿𝘂𝗲 𝗯𝗲𝗻𝗲𝗳𝗶𝗰𝗶𝗮𝗹 𝗼𝘄𝗻𝗲𝗿. Where the 𝘁𝗿𝘂𝘀𝘁𝗲𝗲 has 𝗻𝗼 𝗶𝗻𝗱𝗲𝗽𝗲𝗻𝗱𝗲𝗻𝘁 𝗽𝗼𝘄𝗲𝗿 𝗼𝗿 𝗱𝗶𝘀𝗰𝗿𝗲𝘁𝗶𝗼𝗻 over the property, the arrangement will typically be considered a 𝗯𝗮𝗿𝗲 𝘁𝗿𝘂𝘀𝘁 𝗮𝗿𝗿𝗮𝗻𝗴𝗲𝗺𝗲𝗻𝘁. Historically, bare trust arrangements were not subject to T3 filing requirements. However, starting in 𝟮𝟬𝟮𝟲, if a bare trust 𝗲𝘅𝗶𝘀𝘁𝘀 𝗮𝘁 𝗮𝗻𝘆 𝘁𝗶𝗺𝗲 𝗱𝘂𝗿𝗶𝗻𝗴 𝘁𝗵𝗲 𝘆𝗲𝗮𝗿, the bare trustee may be required to file a T3 return and Schedule 15. While certain exceptions may apply, many arrangements that were previously outside of the trust reporting requirements will now be 𝗿𝗲𝗾𝘂𝗶𝗿𝗲𝗱 𝘁𝗼 𝗳𝗶𝗹𝗲 𝗯𝘆 𝗠𝗮𝗿𝗰𝗵 𝟯𝟭, 𝟮𝟬𝟮𝟳.

𝗜𝗳 𝘆𝗼𝘂 𝗵𝗮𝘃𝗲 𝗮𝗻𝘆 𝗾𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀, 𝗰𝗼𝗻𝘁𝗮𝗰𝘁 𝗖𝗠𝗗 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗶𝗻𝗴 𝗦𝗲𝗿𝘃𝗶𝗰𝗲𝘀!

For Businesses, working with a Certified Public Accountant (CPA) provides benefits such as improved financial health, strategic growth, expert tax planning, and assurance of legal compliance for your business. CPAs can offer professional expertise to reduce taxes, prevent errors, manage financial risk, and make informed decisions, which safeguards your company's financial health and helps achieve financial goals.

𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗰 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗣𝗹𝗮𝗻𝗻𝗶𝗻𝗴:
CMD offers expert financial management, helping businesses establish and implement effective accounting and control procedures.

𝗧𝗮𝘅 𝗢𝗽𝘁𝗶𝗺𝗶𝘇𝗮𝘁𝗶𝗼𝗻:
CMD provides specialized tax planning and preparation services to help businesses reduce their tax burden and reinvest savings.

𝗥𝗶𝘀𝗸 𝗠𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁:
CMD can identify and manage financial risks, ensuring the organization operates ethically and maintains a competitive advantage.

𝗚𝗿𝗼𝘄𝘁𝗵 𝗮𝗻𝗱 𝗘𝗳𝗳𝗶𝗰𝗶𝗲𝗻𝗰𝘆:
CMD helps businesses explore all project angles, foster strategic growth, and discover new market opportunities.

CMD's Summer hours are effective July 1st, 2026, until August 31, 2026.