EBT

Social Phishing

Amber — Fri, 27 Mar 2026 14:41:07 +0000

Social Phishing: What It Is, Why It Matters, and How to Protect Yourself

Why Vigilance Matters Even More During Tax Season

Tax season is one of the busiest, and most vulnerable, times of year for individuals and businesses alike. There is a higher volume of emails, document sharing, payment activity, and time‑sensitive decisions, often under tight deadlines. Unfortunately, cybercriminals are well aware of this.

During tax season, clients rightly expect to hear from their accountant, advisor, payroll provider, or financial institution. Fraudsters take advantage of this increased activity and urgency by sending messages that look routine but are designed to deceive. Even small moments of distraction can lead to serious consequences.

That’s why awareness during tax season is especially important.

One of the fastest‑growing risks we are seeing is social phishing, also known as social engineering attacks.

What Is Social Phishing?

Social phishing is a form of fraud where scammers impersonate a trusted person or organization to manipulate you into sharing sensitive information or transferring funds.

These attempts can take many forms, including emails, phone calls, or text messages that appear to come from:

Your accountant or financial advisor
A business partner or colleague
A financial institution
A vendor or supplier

These messages often look and feel legitimate—because they’re designed to.

Why Social Phishing Is So Effective

Unlike traditional cyberattacks that focus on breaking through technical systems, social phishing targets human behavior.

Attackers use psychological tactics such as:

Urgency: “This needs to be done immediately.”
Authority: Pretending to be a senior leader, advisor, or trusted professional
Familiarity: Referencing real names, projects, or recent activity
Pressure or fear: Encouraging quick action before you have time to verify

Even experienced professionals can be caught off guard—particularly during high‑stress, high‑volume periods like tax season.

Common Types of Social Phishing Attacks

1. Email Phishing

Fraudulent emails that appear legitimate and may request:

Passwords
Financial information
Payment approvals

2. Spear Phishing

Highly targeted messages customized specifically to you or your business, making them more difficult to detect.

3. Business Email Compromise (BEC)

An attacker impersonates a trusted contact—such as your accountant or CFO—and requests:

Wire transfers
Changes to payment instructions
Urgent financial actions

4. Phone‑Based Scams (Vishing)

Fraudsters call pretending to represent a trusted organization, attempting to extract sensitive information or authorize transactions.

The Risks of Social Phishing

The potential impacts of these attacks can be serious and far‑reaching, including:

Financial loss
Data breaches
Reputational damage
Disruption to business operations

Unfortunately, once funds are transferred or information is shared, recovery can be extremely difficult.

How to Stay Vigilant

The good news is that a few simple habits can significantly reduce your risk.

1. Pause Before You Act

Be cautious of any communication that:

Feels urgent
Requests sensitive information
Asks you to bypass established processes

2. Verify Requests Independently

If something seems off:

Do not reply directly to the message
Hang up and contact the individual or organization using a trusted phone number

3. Be Extra Careful With Payment Changes

Always verify:

New banking details
Changes to vendor payment instructions
Unusual or last‑minute transfer requests

4. Review Email Details Closely

Watch for:

Slight changes in email addresses
Misspellings or unusual formatting
Unexpected attachments or links

5. Limit Information Sharing

The less public information available about your business and internal processes, the harder it is for attackers to impersonate trusted contacts.

A Final Word

Cyber threats continue to evolve, but awareness remains your strongest defense.

Especially during tax season, taking an extra moment to confirm a request can prevent significant financial and personal loss. If something doesn’t feel right, trust your instincts.

Need Help?

If you receive a communication that seems unusual or suspicious, we encourage you to contact our team directly using a trusted phone number before taking any action.

We’re here to support you – and to help keep your information secure.

The post Social Phishing appeared first on EBT.

CFE Success

Amber — Tue, 17 Feb 2026 02:53:12 +0000

Celebrating a Milestone at the CFE Gala

2025 Successful CFE Writers

The CFE Gala marked an important celebration of a professional milestone.

EBT is proud to congratulate our four successful CPA Candidates, listed alphabetically: Daniel Wilson, Houston King, Joelle Van Dam, and Trae‑Lyn Peach. Achieving success on the CFE represents years of commitment, resilience, and hard work, and we are delighted to celebrate this accomplishment with them.

As a certified training program, EBT takes great pride in supporting CPA Candidates throughout the program and in fostering an environment where learning, mentorship, and professional growth thrive. The dedication demonstrated by our candidates reflects both their individual determination and the strength of the support around them.

It is always a great day when we get to welcome staff into the profession, and this milestone is one worth celebrating. Congratulations to all – your achievement is well earned, and we look forward to what lies ahead in your professional journeys.

The post CFE Success appeared first on EBT.

Stay Alert: Phishing Emails Targeting Taxpayers on the Rise

Breanne — Fri, 14 Nov 2025 18:46:24 +0000

As tax season approaches, Canadians are once again seeing an increase in fraudulent emails impersonating the Canada Revenue Agency (CRA). These phishing attempts are becoming more sophisticated, using convincing language, official-looking branding, and urgent calls to action in an effort to trick recipients into clicking links or sharing personal information.

At EBT Chartered Professional Accountants, we want to ensure our clients and community stay protected.

What These Scams Look Like

Recent reports show emails that appear to come from the CRA, often claiming that:

- You have a refund waiting,

- You owe money,

- Your account information needs to be updated, or

- Immediate action is required.

These messages frequently include links to fake websites designed to steal personal or financial information.

How to Protect Yourself

To keep your information safe, remember the following:

- The CRA will never send unsolicited emails asking you to click links or provide sensitive personal details.

- Do not click links or download attachments from any email you were not expecting.

- Verify before responding — phishing emails often look convincing, but small details (sender address, spelling, urgency) can be red flags.

- If you’re unsure whether a message is legitimate, contact our team. We are always happy to help verify authenticity.

- You can also log into CRA’s secure “My Account” or “Represent a Client” portals to confirm whether any official messages or actions are required.

In the News: New Grant Opportunity for Alberta Employers

Amber — Wed, 01 Oct 2025 20:19:46 +0000

Canada-Alberta Productivity Grant (CAPG)

Did you know there’s a new government grant that could help cover training costs for your employees?

The Canada-Alberta Productivity Grant (CAPG) is now accepting applications — and it could reimburse your business 50–75% of eligible training expenses for current or future staff.

Key Funding Details:

50% reimbursement for training existing employees (up to $5,000 per trainee/year)
75% reimbursement for training unemployed Albertans (up to $10,000 per trainee/year)
Covers tuition, textbooks, software, supplies, exam fees, and approved travel costs

Employer & Trainee Eligibility:

Open to employers with current or prospective employees needing job-related training
Trainees must be Canadian citizens, permanent residents, or have status under the Immigration & Refugee Protection Act
Company owners, family members, and temporary foreign workers are not eligible as trainees
Training must be delivered by a third-party provider whose primary business is education/training

Eligible Training Must:

Focus on one or more of the following:
- Business process & operations management
- Technical skills
- Digital & technological tools
Be job-relevant and completed within 52 weeks in Alberta
Be offered online, in-person, or blended

Note: Interpersonal skills, beginner-level, or instructional book/DVD training is not eligible.

The CAPG portal is now open for employer registration:

https://capg.alberta.ca/SignIn?ReturnUrl=%2F.

Want to learn more? Attend an upcoming info session by registering here:

https://www.alberta.ca/canada-alberta-productivity-grant

The post In the News: New Grant Opportunity for Alberta Employers appeared first on EBT.

Leadership Announcement: Exciting Changes at EBT

Amber — Thu, 29 May 2025 15:21:47 +0000

We are pleased to share some exciting updates with you regarding the future of EBT Chartered Professional Accountants. Important transitions are underway within our leadership team, and we want to keep you informed about the changes that will shape the future of our firm.

For many of us, when we think of EBT, the names Ensminger, Beck and Thompson immediately come to mind. These three individuals have been integral to our growth and success. But what you might not know is how this trio came together to build the firm we know and trust today.

In 1994 Curtis Ensminger joined, what was then, van der Sloot MacPhail and quickly advanced to partner in 1997. That same year Curtis was joined by Todd Beck. About six months later, Dan Thompson joined the firm. The addition of Todd and Dan created a dynamic partnership, one that forged friendships and set the stage for the future of the firm.

From our beginnings in the 1970s as van der Sloot and MacPhail, to the pivotal rebranding as EBT in 1998, our firm’s growth has always been driven by a passion for exceptional client service and a deep commitment to the community. Today, as our senior principals near retirement, we are excited to share the next steps in the evolution of EBT.

The following leadership transitions reflect the firm’s ongoing growth and evolution:

1. Curtis Ensminger transitions to Senior Advisor Role

Effective June 30, 2025, Curtis Ensminger will step down from his position as principal and transition to a Senior Advisor role. Curtis will focus on ensuring smooth client transitions and continuing to provide high-quality service as he prepares for retirement. His experience and expertise will remain an invaluable resource for both clients and the firm.

2. Todd Beck transitions to Senior Advisor Role

Effective June 30, 2025, Todd Beck will also transition to a Senior Advisor role, focusing on providing continued support to the client relationships he has cultivated. Todd will also step down from his principal role. He will remain fully engaged with the firm and continue to play an active role in supporting the team and clients.

3. Welcoming New Principals

We are excited to announce the promotion of four exceptional team members to principal positions, effective July 1, 2025. These individuals have demonstrated years of dedication, leadership, and a commitment to excellence. Their promotion is a testament to their hard work and perseverance. Please join us in congratulating the following individuals on their new roles:

Cody Nicoll, CPA
Davis Griscowsky, CPA
Graeme Cruickshank, CPA
Ryan Cook, CPA

These changes mark a significant milestone in our firm’s history, and we are confident that the next generation of leadership will continue to uphold the high standards of service and client care that EBT is known for.

We understand that change can be challenging, and we are here to address any questions or concerns you may have during this transition. Please don’t hesitate to reach out to us for further information.

Thank you for your continued trust in EBT. We look forward to continuing to serve you and building upon the legacy of excellence that has defined our firm for over 50 years.

The post Leadership Announcement: Exciting Changes at EBT appeared first on EBT.

Federal Budget Commentary 2024

Amber — Sun, 21 Apr 2024 02:04:57 +0000

Click below to read the full article:

Federal Budget Commentary 2024

The post Federal Budget Commentary 2024 appeared first on EBT.

Late Breaking Bare Trust Reporting Exemption

Amber — Fri, 29 Mar 2024 14:05:23 +0000

Previously, we had informed you of new trust reporting requirements for bare trusts which came into effect for 2023 (with a filing deadline of April 2, 2024).

On March 28, 2024 Canada Revenue Agency announced that bare trusts will be exempt from trust reporting requirements for 2023, unless the Canada Revenue Agency makes a direct request for these filings. At this time, requirements for 2024 and future years are unknown.

CRA has indicated that it will work with the Department of Finance to clarify its guidance on the filing requirement and will communicate with Canadians as further information comes available. We will share those developments with you as they are released.

Along with most of Canadians, we wish this decision could have been made sooner. If you would like further information or to contact CRA directly, please refer to CRA’s Tax Tip.

The post Late Breaking Bare Trust Reporting Exemption appeared first on EBT.

Updated Trust Reporting

Amber — Thu, 01 Feb 2024 20:10:44 +0000

New and Expanded Trust Reporting

New rules aimed at providing more transparency on beneficial ownership of assets now require that more trusts file tax returns. The rules became effective in 2023. The new reporting requirements require all trusts, including bare trusts (defined below) to file an information T3 tax return (this include all trust arrangements that have not filed in the past). The new rules also include increased information requirements for those trusts that have already been filing returns.

Bare Trust Arrangements

The rules have been expanded to include cases where a trust acts as an agent for its beneficiaries, commonly known as a bare trust. In such instances, the person/entity listed as the owner of an asset is not the true beneficial owner, instead, they hold the asset on behalf of another party.

Identifying if a Bare Trust Arrangement Exists

To determine if a bare trust arrangement exists, the following question should be asked:

Is the person on title or holding the asset the true beneficial owner? For example, do they get the benefits of the asset (such as the sale proceeds) and bear the costs or risks of the asset (such as property taxes)?

There is likely a bare trust arrangement if there is a mismatch between legal and beneficial ownership, often requiring a trust return.

There are several reasons why an individual, business or organization may use a bare trust. Many parties involved in a bare trust arrangement may not realize that they are, much less that there may be a filing requirement with CRA. No lawyer may have ever been involved, and no written agreement may have ever been drafted.

Individual Reasons

a parent is on title of a child’s home (without the parent having beneficial ownership) to assist the child in obtaining a mortgage;
a parent or grandparent holds an investment or bank account in trust for a child or grandchild;

· one spouse is on title of a house or asset although the other spouse is at least a partial beneficial owner;

· an individual is on legal title to farmland that is beneficially owned by his/her company (the land is reported in the company as an asset)

Estate Planning Reasons

a child is on title of a parent’s home (without the child having beneficial ownership) for probate or estate planning purposes only;

· a child is on parent’s financial accounts (or other assets) to assist with administration after the parent’s passing;

· (These do not include signing authority)

Business Administration Reasons

a corporate bank account is opened by the shareholders with the corporation being the beneficial owner of the funds;
a corporation is on title of an individual’s real estate, vehicle or other asset, and vice-versa;
assets registered to one corporation but beneficially owned by a related corporation;
use of a nominee corporation for real estate development purposes;
a joint venture arrangement where the operator holds legal title to development property as an agent for the benefit of other participants;

· a cost-sharing arrangement where a person holds a business bank account, or other assets, to facilitate the arrangement while having no, or only partial, beneficial interest in these shared assets;

· a partner of a partnership holding a bank account or asset for the benefit of all the other partners of a partnership

Industry-specific Issues

a property management company holding operational bank accounts in trust for their clients, or individuals managing properties for other corporations holding bank accounts for those other corporations; and

· a lawyer’s specific trust account (while a lawyer’s general trust account is largely carved out of the filing requirements, a specific trust account is not).

What does this mean for you?

If you believe you are part of one of these arrangements, please contact our office as soon as possible to discuss your possible filing requirements and the information we will need from you in order to file.

If we are already filing a trust return for your trust you don’t need to do anything further, we’ll contact you if we need more information.

Be aware! Penalties for non-filing

Late filing penalties are to a maximum of $2,500 per year.

Gross negligence penalties for inaccurate or incomplete information are equal to the greater of $2,500 and 5% of the highest fair market value of the trust assets during the year.

The post Updated Trust Reporting appeared first on EBT.

2023 Canada – Saskatchewan Livestock Feed Initiative

Amber — Mon, 06 Nov 2023 20:38:51 +0000

Applications are now open for the 2023 Canada – Saskatchewan Livestock Feed Initiative. The purpose of the initiative is to provide compensation for 70 percent of extraordinary expenses related to maintenance of breeding livestock due to lost pasture and feed days caused by drought conditions and pest outbreaks in 2023. Examples of extraordinary expenses include (starting May 1, 2023):

purchased feed above historical quantities
transportation costs for hauling feed to the breeding animals or self-hauling of feed
transportation costs for hauling breeding animals to feed or self-hauling of breeding animals to feed
custom feeding arrangements or alternative grazing arrangements for eligible animals

Eligible producers must have lost a minimum of 25 feed days.

Applications can be made online or by paper application. Applications are available from Saskatchewan Crop Insurance Corporation (SCIC) https://www.scic.ca/2023-canada-saskatchewan-feed-program.

The deadline for applications is March 1, 2024.

Under the program producers are eligible for an initial payment of up to $150 per eligible breeding female and males of the reproductive age of the species owned inventory as of August 21, 2023 and intended to be kept through to January 31, 2024. Producers must be within the map guided by the Canadian Drought Monitor D2 Drought Area https://www.scic.ca/2023-canada-saskatchewan-feed-program to be eligible for the Federal-Provincial Funding of up to $150/head. A Saskatchewan Provincial-only payment of up to $60 per head will be available to producers outside the Canadian Drought Monitor D2 Drought Area

In the application, producers must:

Report total eligible breeding livestock inventory.
- Eligible livestock for this initiative includes Canadian-owned male and female beef cattle, bison, horse, elk, deer sheep or goats that are bred or intended to be bred.
- The number of open replacement females considered eligible livestock is up to 15 per cent of total bred females per species.
- The maximum number of breeding males required to maintain the herd that can be considered Eligible Animals is 5% of the total number of female Eligible Animals per species.
Declare eligibility, as outlined in the Terms and Conditions.

A Premise ID is required to apply. Producers must report extraordinary expenses.

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2023 Canada – Alberta Drought Livestock Assistance

Amber — Mon, 06 Nov 2023 18:20:59 +0000

2023 Canada – Alberta Drought Livestock Assistance

Applications for the 2023 Canada-Alberta Livestock are now available on AFSC Connect (https://afsc.ca/login/ ). The 2023 Canada-Alberta Livestock Assistance initiative compensates Alberta’s livestock producers for the extraordinary costs incurred due to changing management practices from drought and extreme high temperatures in 2023. Eligible Participants can apply for a Feed assistance payment of up to $150 per animal based on a feed need calculation, with Proof of Extraordinary Expenses incurred due to drought conditions between June 1, 2023, and March 31, 2024, and a minimum of 15 Eligible Animals per category of livestock existing on hand as of December 31, 2023. In addition, producers need to have more than 21 days between June 1, 2023 and October 31, 2023 where grazing practices were altered due to drought conditions.

Eligible producers must reside or have pasture (rented, leased or owned) within specific drought impacted area (see https://afsc.ca/wp-content/uploads/2023/10/2023-CADLA-Eligible-Geographic-Municipalities.pdf).

The deadline for applications is midnight January 15, 2024.

To be eligible to participate in the Program, animals must meet all of the following criteria:

· Are females that have been bred within the 2023 calendar year; and

· Are grazing animals, being: Beef/Bison; Horses (Horses used for pleasure, rodeo stock, race horses and working ranch horses are not considered eligible); Water Buffalo; Elk/Yak/Musk Ox; Deer/Llamas; Sheep/Goats/Alpacas; Homestead Grazing Pigs (limited to Kunekune breed).

Animal Type	Maximum payment per head	Proof of expense value per head to support maximum payment
Cattle and bison	$150.00	$215
Horses	$150.00	$215
Water buffalo	$150.00	$215
Elk/yak/musk ox	$75.00	$108
Deer and llamas	$37.50	$54
Sheep/gats/alpacas	$30.00	$43
Homestead grazing pigs (Kunekune)	$52.50	$75

Including but not limited to the following are acceptable proof of expenses that can be validated as Extraordinary Costs:

· Purchases of hay/greenfeed bales;

· Purchase of pitted/bagged silage/haylage;

· Custom transport of feed or livestock;

· Self-hauled transport of feed or livestock;

· Baled additional forage land of owned land (self or custom harvested);

· Baled cereal crops of owned land (self or custom harvested);

· Rented additional pasture land between May 1-October 31;

· Purchased standing hay land for baling (self or custom harvested);

· Purchased additional hay land for haylage (self or custom harvested);

· Purchased additional cereal cropped land for silage (self or custom harvested);

· Modifications to alternative land to be grazing suitable. Examples of this include fencing, labour and water provisions for livestock.

· Usage of on-hand feed as extraordinary measure over and above what would occur in a normal year, to extend pasture grazing