Chartered Professional Accountants providing exceptional service in a timely manner.



Qualified Chartered Professional Accountants
Serving Grande Prairie Since 2004


Our team of friendly, knowledgeable, chartered professional accountants is dedicated to expertly serving the businesses of Grande Prairie, Alberta and the wider area. No matter your industry, the size of your team, or the age of your business, our knowledge and qualifications in business and tax accounting can take you where you need to go.

Our Services

We offer a full range of accounting services, tax preparation and planning, estate planning, and everyday business advice. Whether you need the long-term support of a qualified business accountant or are just looking for some one-off help with your GST returns, trust in the chartered professional accountants at Deverdenne Davis Cyr LLP to deliver the highest levels of quality and professionalism.

Our Values

Integrity

Above all else, our team is dedicated to honesty and transparency when it comes to our client interactions. We will always treat your business information with discretion and professionalism.

Collaboration

By choosing Deverdenne Davis Cyr LLP, you gain more than just the support of qualified chartered professional accountants - you are choosing to extend your business family. We work alongside our clients every step of the way, celebrating your success as our own.

Community

Deverdenne Davis Cyr LLP is proudly based in Grande Prairie, Alberta. We are committed to helping our community prosper, and we are pleased to sponsor a number of local organizations and events each year.

Environment

We are always looking for new ways to go green. Deverdenne Davis Cyr LLP is a paperless firm, with paper consumption reduced by 90% since 2008.

Call Us Today! 780-814-7474

Account

On July 18, 2017, the federal government announced proposed tax changes that would have a significant impact on small businesses and their shareholders. Currently these remain proposed changes and the government is still in the consultation process. We are closely monitoring the proposed tax changes and have been having regular discussions with the firm's tax advisors. We will also be attending numerous courses and conferences in the upcoming months in order to ensure we continue to be well informed and to have the best strategies should these proposed changes be implemented. These include:

  • Income Sprinkling - The Government is concerned that business owners can direct income to lower income family members who are not involved in the business, gaining a tax advantage unavailable to other Canadians. A common example is dividend sprinkling, where lower income family membersb> own a share of the business and therefore can receive dividends, subject to their lower marginal rate. The Paper suggests taxing the unreasonable portion of dividends received by a family member of the principal of the business at the top marginal tax rate. Reasonability will be based on factors such as labour and capital contributions, and risk assumed. While this reasonableness test will apply on all dividends to family members of the principal, a more stringent criteria will apply for individuals between age 18 and 24.
  • Similarly, the Paper proposed limits on access to the capital gains exemption (CGE) based on age and reasonableness, with minors not entitled to the CGEb> at all. The proposals also deny the CGE for most gains accumulated while sharesb> are held by a trust.

    The Paper noted that the Government is committed to addressing this issue in some fashion, and that the changes will be effective in 2018.
  • Passive Investment Income - The Government is concerned that it is unfair to most Canadians to permit the accumulation of passive investments with capital shielded from the higher personal tax rates. No specific proposals were made, but a number of possible approaches were set out which will essentially eliminate the advantage provided by the deferral on funds retained for investment in private corporations.

    The new rules will be designed in the coming months. The timing of any changes was not specified.
  • Capital Gains - The Government is concerned with plans to withdraw corporate funds as capital gains rather than dividends. The overall tax liability on capital gains is generally much lower than that of dividends, in particular for individuals subject to tax at the top marginal tax rate. The Government has proposed some more complicated technical measures which would limit this type of planning.

These changes will apply to amounts received, or becoming receivable, on or after July 18, 2017 (i.e. the date the Paper was released).

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Suite 109, 9824 - 97th Avenue
Grande Prairie, AB
T8V 7K2
Canada

Phone: 780.814.7474
Toll free: 1.877.814.7474
Fax: 780.814.7409

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