Morning Agenda
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MORNING AGENDA 8:30 – 9:00 a.m. CHECK-IN AND CONTINENTAL BREAKFAST 9:00 – 9:10 a.m. Welcome & Opening Remarks Hedra Saparno, CPA, CMA Senior Manager Baker Tilly Ottawa LLP 9:10 – 10:20 a.m. Working in a Cyber World Erin Carter, CPA, CA · Considerations for remote workers Tax Manager · Payroll issues Baker Tilly Ottawa LLP · Employed vs self employed Jordan Malone, CPA, CA · Paperless and paperwork Principal · Cyber assets – A&A Issues Baker Tilly Ottawa LLP · Where is your head office David Contant Lawyer Nelligan O’Brien Payne LLP 10:20 – 10:40 a.m. COFFEE BREAK AND NETWORKING 10:40 – 11:10 a.m. Economic Update James Kinkaid · 2020 and long-term return expectations VP & Portfolio Manager RBC Dominion Securities 11:10 - 11:50 a.m. Corporate and Charity Law Update Kim Cunnington-Taylor Lawyer 11:50 –12:45 p.m. LUNCH AND NETWORKING AFTERNOON AGENDA 12:45 – 1:05 p.m. Tax update Diana Cameron · Quebec registrations Senior Manager · T4As and HST Baker Tilly Ottawa LLP · Home offices – where do you live and where are supplies made 1:05 – 1:30 p.m. How Retirement and Pension Program Michael Wood Delivery is Changing Group Saving and Pension · Design, flexibility, technology Consultant · Not-for-Profit organization adoption RBC Royal Bank 1:30 – 2:15 p.m. Debunking the liability myths of non-profits Kim Cunnington-Taylor · Insurance Lawyer · Risk management · Director's liability 2:15 – 2:30 p.m. COFFEE AND NETWORKING 2:30 – 3:00 p.m. Payment Modernization Stephen Miller Senior Director Cash Management RBC Royal Bank 3:00 – 4:00 p.m. Fraud Issues Jeff Rowsell · Cyber fraud Manager · Fraud Controls and Prevention Baker Tilly Ottawa LLP · Data Analytics · What to do when it happens Benoit Groulx Partner Baker Tilly Ottawa LLP David Contant Nelligan O’Brien Payne LLP 4:00 – 4:15 p.m. Q&A – Panel on Fraud Issues 4:15 p.m. Closing Remarks Hedra Saparno, CPA, CMA Senior Manager Baker Tilly Ottawa LLP Tax Issues for NFPs • Employed vs. Self-employed • Payroll Issues - Remote Work Arrangements • When to Issue a T4A Erin Carter, CPA, CA Manager Baker Tilly Ottawa LLP Tel: 613-768-8844 Email: [email protected] EmployeeMain Title vs.of yourContractor Topic • Need to determine if a worker is a self-employed contractor or an employee • Impacts deductions required • Onus on employer to assess relationship, deduct and remit accordingly • Punitive to employer if incorrect assessment made • Factors to consider? Main TitleControl of your Topic Ability, authority, or right of a payer to exercise control over a worker concerning the manner in which the work is done and what work will be done Employee relationships • Payor controls how and when the work is done • Payor controls the results of the work and method used to do the work • Worker would need to obtain permission before working for other payors Self-employed relationships • Worker controls when and how the work is performed • Worker performs work independently • Worker can work for multiple payors at once, can accept or refuse more work from the payor Tools and Equipment Consider who owns and provides tools and equipment to accomplish the work Employee relationships • Payor supplies most of the tools to perform the work • Payor is responsible for the repair, maintenance, and insurance costs • Worker supplies the tools and payer reimburses the worker Self employed relationships • Worker provides most of the tools to perform the work • Worker is responsible for the repair, maintenance, and insurance costs • Worker supplies their own workspace Financial Risk Consider the degree of financial risk taken by the worker. Consider if there are any fixed ongoing costs incurred by the worker or any expenses that are not reimbursed Employee relationships • Worker is generally not responsible for operating expenses • Payor controls amount and method of payment • Working relationship is continuous Self employed relationships • Worker is hired for a specific job, rather than an ongoing relationship • Worker is financially liable if they do not fulfill obligations of the contract • Worker advertises and markets their services Opportunity for Profit Consider whether the worker can realize a profit or incur a loss, as this indicates that a worker controls the business aspects of services rendered and that a business relationship likely exists. Employee relationships • Worker is not normally in a position to realize a business profit or loss • Worker is entitled to benefit plans (RPP, health, dental etc.) Self employed relationships • Worker can hire a substitute for themselves, worker pays substitute • Worker is compensated by a flat fee, incurs expenses to perform services Work-space-in-the-home Conditions to deduct expenses: • The work space is where you mainly (more than 50% of the time) do your work • The work space is where you mainly (more than 50% of the time) do your work. • The work space is used on a regular and continuous basis for meeting clients, customers, or other people in the course of your employment duties Work-space-in-the-home Can deduct part of the cost that relates to the work space such as: • Electricity • Heat • Maintenance • Property taxes • Home insurance Cannot deduct: • Mortgage interest Work-space-in-the-home • Deduction based on a “reasonable basis” ex: % of square feet occupied by work space compared to that of entire home. • Cannot use work space expenses to create or increase a loss from employment • Requires Form T2200, Declaration of Conditions of Employment that has been completed and signed by employer. When to Issue a T4A • You are a payer that is paying any of the following types of income: • Self-employed commissions • Fees or other amounts for services • Pension or superannuation • Others AND one of the following applies to the payment: • The total of all payments in the calendar year was more than $500 • You deducted tax from any payment Payroll – Province of Withholding Determine employee’s province of employment to withhold the proper deductions. Employee reports to establishment in person – province of employment is the one in which the establishment is located. "establishment of the employer" is any place or premises in Canada that is owned, leased or rented by you and where one or more employees report to work or from which one or more employees are paid Payroll – Province of Withholding • Head office is in Ontario, but employee reports to place of business in Manitoba • Employee lives in Quebec, but is required to report to place of business in Ontario Payroll – Province of Withholding • Employee works from home in Alberta, occasionally reports to place of business in Alberta, is paid from head office in Ontario • Employee works from home in Alberta, occasionally reports to place of business in Alberta, is paid from head office in Ontario • Employee lives in Ontario, does not report to any physical location, is paid from the head office in Quebec Questions Information is current to November 1, 2019. The information contained in this presentation is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. Paperless • How to implement a paperless process • CRA requirements • Intangible capital assets Jordan Malone, CPA, CA Principal Baker Tilly Ottawa LLP Tel: 613-768-7603 Email: [email protected] 4 simple steps to going paperless • Step 1 – Change one paper based process 4 simple steps to going paperless • Step 2 – Software selection Step 2 considerations CRA Requirements • “Records kept outside of Canada and accessed electronically from Canada are not considered to be records kept in Canada” Step 2 considerations CRA will not give permission to keep records outside of Canada to: • registered charities • registered Canadian amateur athletic associations • Canadian municipalities • public bodies performing a function of government • housing corporations exempt from tax CRA requirements CRA may accept copies if: • the CRA is satisfied that the copies of the records are true copies • they are made available to CRA officials in Canada in an electronic format readable by CRA software • they show enough details to support the returns filed with the CRA 4 simple steps to going paperless • Step 3 – Organizational change 4 simple steps to going paperless • Step 4 – Start over until all processes are paperless Intangible assets • Considerations for intangible capital asset vs expense – Software – Website development Questions Information is current to November 1, 2019. The information contained in this presentation is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. Legal Issues- Working in a Cyber World • Nature of working relationship • Working from home • Confidentiality David Contant Lawyer & Certified Specialist in Civil Litigation Nelligan O’Brien Payne LLP Tel: 613-231-8354 Email: [email protected] Working in a Cyber World Governing Law • Where does the employee conduct their work? • Is there a forum selection clause? • What is the nature of the claim (i.e. breach of contract versus tort)? Working in a Cyber World Contractor or Employee? • Employee, contractor, or dependant contractor? • A dependant contractor is a contractor economically dependant upon its principal • Keenan (c.o.b.