Newsletter

Download the PDF here IN THIS EDITION TAX TICKLERS Quick points to consider OWNER-MANAGED BUSINESS TRANSITIONS Planning in Advance LOANS FOR VALUE Income Splitting Opportunity DAY TRADING IN AN RRSP, RRIF OR TFSA Could it be Business Income? FAMILY TAX CUT Joint Custody, GST/HST Credit, and Withholding Tax FOREIGN REPORTING Warning Letters Sent Out U.S. […]

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Download the PDF here YEAR-END TAX PLANNING December 31, 2014 is fast approaching… see below for a list of tax planning considerations.  Please contact us for further details or to discuss whether these may apply to your tax situation. SOME 2014 YEAR-END TAX PLANNING TIPS INCLUDE: Certain expenditures made by individuals by December 31, 2014 […]

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Download the PDF here IN THIS EDITION TAX TICKLERS Quick points to consider FEDERAL NOT-FOR-PROFIT CORPORATIONS ACT Did You Miss the Transition? FAMILY TAX CUT Income Splitting and Other benefits DISABILITY TAX CREDIT Make sure to Apply! DISTRIBUTING ESTATE PROPERTY An Executor may be Personally Liable CANADA JOB GRANT Government Funds Available EMPLOYMENT EXPENSES Are […]

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Download the PDF here IN THIS EDITION TAX TICKLERS Quick points to consider SMALL BUSINESS JOB CREDIT Small Employers save on EI Premiums LIAISON OFFICER INITIATIVE CRA Project to Assist with Compliance TAX PAYMENTS Doing it Online PRINCIPAL RESIDENCE Partial Conversion to an Office ESTATE PLANNING Consider all Digital Assets COLLECTIONS AT THE CRA Options […]

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Download the PDF here IN THIS EDITION TAX TICKLERS Quick points to consider INTERNET BUSINESS ACTIVITIES Update to the Effective Date DONATING BY WILL Planning Ahead T1135 FOREIGN PROPERTY Some Relief PRICE ADJUSTMENT CLAUSE Non-Arm’s Length Purchase or Sale GAMBLING WINNINGS Document them! U.S. AMNESTY PROGRAMS Now even more Accessible! DIRECTOR LIABILITY Understand your Exposure […]

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Download the PDF here IN THIS EDITION TAX TICKLERS Quick points to consider WEB TIPS Profitguide.com INTERNET BUSINESS ACTIVITIES Must be reported to the CRA CRA EXAMINES NON-PROFIT ORGANIZATIONS Is your Entity at Risk? REPORTING GST/HST Simple Option for Small Businesses SALARY To Owners and Relatives CROWDFUNDING May Have Tax Costs SCHOLARSHIPS AND TRAINING May not […]

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Download the PDF here In this edition: AUTO ALLOWANCES Fixed Payments are Costly DISASTER RELIEF What is the Tax Impact? EMPLOYMENT INSURANCE (EI) Which Working Hours Count? BUSINESS EXPENSES Prove it! 3RD PARTY DISCLOSURE OF UNREPORTED INCOME OLD TAX RETURNS Reopened! RENTAL PROPERTIES Receipt Retention Issue SNOWBIRDS Watch Out! WEB TIPS 10minutemail.com, dropbox.com GST/HST Potpourri […]

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Download the PDF here. MEDICAL EXPENSES – TRAVEL In a November 8, 2012 Tax Court of Canada case, CRA disallowed as a medical expense $14,883 of travel costs related to 101 round trips that Mr. Jordan made from Weyburn to Regina to assist his wife in recovering from an aneurysm. Taxpayer wins The Court allowed […]

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Download a PDF version here   PERSONAL TAX MEDICAL EXPENSES You may claim medical expenses for yourself, your spouse or common-law partner, and your or your spouse’s or common-law partner’s children who are not age 18 before the end of the taxation year.  Medical expenses may also be claimed for certain other dependents. MEDICAL EXPENSES […]

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Download a PDF version Year End Tax Planning Some 2012 year-end tax planning tips include: Certain expenditures made by individuals by December 31, 2012 will be eligible for 2012 tax deductions or credits including: moving expenses, child care expenses, safety deposit box fees, charitable donations, political contributions, medical expenses, alimony, eligible employment expenses, union professional […]

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