What are the opening hours?

Monday 9am - 5pm Tuesday 9am - 5pm Wednesday 9am - 5pm Thursday 9am - 5pm Friday 9am - 4pm

CMD Accounting Services Inc.

Home
Canada
Vernon, BC
CMD Accounting Services Inc.

Directions Website

CMD Accounting Services Inc. is located in Vernon, B.C.

CMD Accounting offers our clients a full range of accounting services; full cycle Bookkeeping, Corporate Taxes, Compilation Engagements, Personal Taxes, and Consulting services.

10/30/2026

From all of us at CMD Accounting Services Inc., we wish you all a safe, sweet, and spooky Halloween!

10/23/2026

In addition to being in good standing with the Chartered Professional Accountants of British Columbia (CPABC), CMD Accounting Services Inc. is also accredited by the Better Business Bureau (BBB). With a BBB Rating of A+

Check us out → https://www.bbb.org/ca/bc/vernon/profile/accounting/cmd-accounting-services-inc-0037-2427244

10/16/2026

𝗖𝗹𝗼𝘀𝗲𝗱 𝗨𝗽𝗼𝗻 𝗛𝗼𝗺𝗲 𝗔𝗰𝗾𝘂𝗶𝘀𝗶𝘁𝗶𝗼𝗻?
An FHSA is a registered account that helps first-time home buyers save for their home. You can contribute up to $8,000 each year, with a lifetime limit of $40,000, and these contributions are tax-deductible. If you use the money to buy your first home, you can withdraw it tax-free. If you do not use the funds to buy a home,
you can usually transfer them tax-free to your RRSP or RRIF, or you can withdraw them, but you will have to pay tax on those withdrawals.

On May 14, 2026, a French Technical Interpretation examined whether buying a qualifying home without making a qualifying withdrawal would end the FHSA’s participation period, limit future contributions, or affect transfers to an RRSP or RRIF.

𝗣𝗹𝗮𝗻 𝗰𝗮𝗻𝗰𝗲𝗹𝗮𝘁𝗶𝗼𝗻
The CRA decided that simply buying a qualifying home does not end the FHSA’s participation period. This period ends at the end of the year after the first of these events: 14 years after opening your first FHSA, turning 70, or making your first qualifying withdrawal. Acquiring a home alone does not trigger it. Also, receiving a home as a gift or inheritance counts as an acquisition, not just a purchase. So, during this period, you can keep your FHSA open and keep contributing as long as you stay within the annual limit.

𝗙𝘂𝘁𝘂𝗿𝗲 𝘁𝗮𝘅-𝗳𝗿𝗲𝗲 𝘄𝗶𝘁𝗵𝗱𝗿𝗮𝘄𝗮𝗹
However, if you buy and live in the home, it can affect your ability to make another qualifying withdrawal in the future. If you want to use FHSA funds tax-free to buy another qualifying home later, you must meet the rules for a qualifying withdrawal at that time. This includes the first-time homebuyer requirement. Usually, you must not have owned and lived in a home as your main residence at any time during the four years before the withdrawal, or earlier in the same year. So, if you still own and live in your first home during this period, you generally will not meet this condition.

𝗧𝗿𝗮𝗻𝘀𝗳𝗲𝗿 𝘁𝗼 𝗥𝗥𝗦𝗣/𝗥𝗥𝗜𝗙
Before your FHSA participation period ends, you can transfer FHSA funds (as long as they are not excess amounts) directly to your RRSP or RRIF tax-free. This does not use up your RRSP deduction room. If you acquired a qualifying home without making a qualifying withdrawal, you can still make this transfer.

𝗔𝗖𝗧𝗜𝗢𝗡
Think about whether it is better to keep your FHSA open or close it with a qualifying withdrawal after you have acquired a home.

10/09/2026

𝗙𝗿𝗼𝗺 𝗮𝗹𝗹 𝗼𝗳 𝘂𝘀 𝗮𝘁 𝗖𝗠𝗗, 𝗛𝗮𝗽𝗽𝘆 𝗧𝗵𝗮𝗻𝗸𝘀𝗴𝗶𝘃𝗶𝗻𝗴!

We hope you, your families and friends have a wonderful Thanksgiving long weekend.

Our office will be closed for the long weekend. We appreciate your understanding and will respond to inquiries when we return on Tuesday, October 12, 2026, at 9 am.

10/02/2026

Read the article here → https://canadian-accountant.com/content/practice/int-rules-tax-memo

09/29/2026

In observance of the 𝗡𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗗𝗮𝘆 𝗳𝗼𝗿 𝗧𝗿𝘂𝘁𝗵 𝗮𝗻𝗱 𝗥𝗲𝗰𝗼𝗻𝗰𝗶𝗹𝗶𝗮𝘁𝗶𝗼𝗻, our office will be closed on September 30th. Our office will reopen at 9 a.m. on Thursday, October 1st.

09/25/2026

Bookkeeping is vital for effective organizational management, providing a clear view of your financial data.

CMD accounting Services offers expert services that cover all aspects, from sales and expenses to payroll. Let us help streamline your bookkeeping and set your business up for success!

09/21/2026

𝗣𝗿𝗼𝗳𝗲𝘀𝘀𝗶𝗼𝗻𝗮𝗹 𝘀𝗲𝗿𝘃𝗶𝗰𝗲𝘀 𝗣𝗦𝗧 𝗲𝘅𝗽𝗮𝗻𝘀𝗶𝗼𝗻 𝗽𝗮𝘂𝘀𝗲𝗱!

Friday, September 18, 2026 11:40 AM

In response to new and ongoing international trade disruptions and the economic uncertainty they are creating, the Province intends to delay the PST expansion to professional services, which was scheduled to take effect on Oct. 1, 2026.

𝗙𝘂𝗹𝗹 𝗡𝗲𝘄𝘀 𝗥𝗲𝗹𝗲𝗮𝘀𝗲 → https://news.gov.bc.ca/releases/2026PREM0034-001089

09/18/2026

Date: 2026-09-15
To boost business investment, increase certainty and simplicity for businesses, and strengthen Canada's tax competitiveness, the Government of Canada proposes implementing the Productivity Mega Deduction, which will permanently provide immediate expensing for a broad range of depreciable property. Immediate expensing allows taxpayers to fully write off the cost of an investment in the year that it becomes available for use. This powerful investment incentive will create the conditions for an extended period of higher investment—a Canadian investment supercycle.

Full artical → https://www.canada.ca/en/department-finance/news/2026/09/government-of-canada-introduces-new-productivity-mega-deduction-to-boost-canadas-advantage-as-the-most-competitive-g7-country-for-new-business-inve.html

09/11/2026

With more than 𝟯𝟭 𝘆𝗲𝗮𝗿𝘀 𝗼𝗳 𝗮𝗰𝗰𝗼𝘂𝗻𝘁𝗶𝗻𝗴 𝗲𝘅𝗽𝗲𝗿𝗶𝗲𝗻𝗰𝗲 and being a member of the Chartered Professional Accountants of British Columbia, we are fully ready to handle and comprehend the challenges faced by our clients.

𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗦𝗲𝗿𝘃𝗶𝗰𝗲𝘀
CMD provides accounting and tax services for small and medium-sized businesses. As your business grows to maintain your records is of utmost importance. CMD can assist you in this process. We will also look for ways to improve efficiency and simplify your accounting processes, allowing our clients to focus on their business which is what they do best!

𝗣𝗲𝗿𝘀𝗼𝗻𝗮𝗹 𝗧𝗮𝘅𝗲𝘀
We ensure your tax returns are accurate and on time! CMD can guide you on handling other income streams such as rental income, sole proprietorship, and partnerships. We ensure that all deductions are accounted for to maximize your return. Let us take the pressure off you!

𝗕𝗼𝗼𝗸𝗸𝗲𝗲𝗽𝗶𝗻𝗴
Bookkeeping is an essential function of running an organization. Bookkeeping allows for tracking all financial information, enabling the business to make sound financing and operating decisions.
CMD's bookkeeping services can manage the task of recording a business's financial data, sales, expenses and accruals, payroll, and other financial information. Let us help you get your books set up! See less

Address

#204 3203 30th Street
Vernon, BC
V1T9G9

Opening Hours

Monday	9am - 5pm
Tuesday	9am - 5pm
Wednesday	9am - 5pm
Thursday	9am - 5pm
Friday	9am - 4pm

Website

https://www.cmdasrv.com/

Alerts

Be the first to know and let us send you an email when CMD Accounting Services Inc. posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.