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Founded in 1997 by Thomas Kriens and Leanne LaRose, we are a full-service boutique public accounting firm located in the Beaches area in Toronto.

Kriens~LaRose (KL) is a proud member of the local community and in the span of more than two decades, we are delighted to have forged strong ties with a myriad of small businesses, not-for-profit organizations and individuals in the Toronto area and beyond. If you would like to learn more about our team, our services, or any other information related thereto, we invite you to navigate to the other sections of our website.

 

 

SUMMARY OF FILING AND PAYMENT DEADLINES  2020 

Individuals

The deadline to file your income tax and benefit return will be deferred until June 1, 2020.
The deadline to pay any balance due for your individual income tax and benefit return for 2019 has been extended from April 30, 2020, to September 1, 2020. This means you will not be assessed any penalties or interest if your balance due is paid by September 1, 2020.

Self-employed and their spouse or common-law partner

For self-employed individuals or those who have spouses or common-law partners that are self-employed, the deadline to pay any balance due for your individual income tax and benefit return has been extended from April 30, 2020, to September 1, 2020.

Businesses

The deadline for businesses to pay any income tax amounts that become owing or due after March 18, 2020, and before September 1, 2020, has been extended to September 1, 2020. This means you will not be assessed any penalties or interest if your balance due is paid by September 1, 2020.

Trusts

For trusts with a taxation year-end of December 31, 2019, the filing due date of March 31, 2020, will be deferred to May 1, 2020.
Furthermore, all trusts that have an upcoming income tax balance due date or an income tax instalment payment due date before September 1, 2020, will have their payment due date effectively extended to September 1, 2020.
Penalty and interest implications for upcoming trust tax obligations not covered by the relief described above will be considered by the CRA on a case-by-case basis.

Charities

The Charities Directorate is extending the filing deadline to December 31, 2020, for all charities with a Form T3010, Registered Charity Information Return due between March 18, 2020, and December 31, 2020.

Canada’s COVID-19 Economic Response

Here’s a small sample of the types of financial support measures that PM Justin Trudeau announced earlier today (March 18, 2020):

  • Income tax filing and payment deadline extensions
  • Emergency support benefits for workers that don’t qualify for EI or receive paid sick leave
  • Small business wage subsidy
  • Student loan re-payment moratorium

For a full breakdown of the announcement please refer to the information found at the following link:

https://www.canada.ca/en/department-finance/news/2020/03/canadas-covid-19-economic-response-plan-support-for-canadians-and-businesses.html

Coronavirus/COVID-19 Planning

The COVID-19 Pandemic has arguably become the main topic of conversation for most people and a concern for both individuals and businesses.  In order to benefit the overall physical and fiscal health of our community, at the global and local levels, Kriens-LaRose is contributing our efforts in reducing spread of this virus.  Specifically, we are taking the following steps: 

  • Kriens-LaRose staff have been asked to work from home in self-isolation.  Each employee has been supplied with the necessary equipment to stay in contact with the firm partners and with clients in order to address any questions or concerns and to continue working to meet client deadlines. 
  • We have cancelled all in-person visits to our office however, we will accept packages dropped off through our mail slot or on the porch (with a quick ring of the bell to advise us thereof).  We are accepting, as always, mail or courier delivery of your files, and/or we are happy to accommodate the electronic transfer of your data via email and our online secure portal (for confidential documentation and large files).  Although the partners and staff are not scheduling any in-person meetings until further notice, they are happy to address any questions or concerns via phone, email or web-meetings as needed.
  • We are expanding our regular office-cleaning practices, with a focus on frequent disinfection of common areas and items, included but not limited to, boardroom/meeting rooms, doorknobs, light switches, stair railings, phones, keyboards etc.
  • Staff are encouraged to take the following precautionary measures at all times to minimize their risk of infection: wash their hands regularly; disinfect mobile phones; avoid touching their faces; practice self-isolation and social distancing including observing a two-metre gap from others.
  • If a member of Kriens-LaRose a) learns they have been exposed to a person who has tested positive for the Coronavirus, or b) are themselves experiencing symptoms of COVID-19, the expectation is that they would remain in self-isolation and confer with their health care provider or an appropriate public health care officer.  Kriens-LaRose commits to upholding our policy of fair and non-discriminatory treatment and maintaining the privacy of any such employee.

Despite the challenges this virus/illness presents for the days and months ahead, Kriens-LaRose is optimistic that by proactively addressing the means by which the Coronavirus is being transmitted, we can help to slow and eventually stop the progression of this disease.  We will continue to monitor the situation as it develops and adjust our firm policies and practices as necessary. 

Wisdom of Wealth

Click here to watch firm partner, Leanne LaRose, as she discusses the basics of taxation and the “Wisdom of Wealth” with financial planner, Jason Pereira