Highlights:
Tax Ticklers
Childcare Costs: Art, Sport and Educational Camps
Travel Expenses: Home to Work Site
Hacked Customer Data: Federal Reporting Requirements
Accelerated Depreciation: Federal Fall Economic Update Changes
Federal Carbon Tax: Costs and Rebates
Canada Pension Plan (CPP) Changes: Costs and Benefits are Increasing
Tax Tips and Traps Issue 125 – 1st Quarter 2019
Congratulations Lindsay Kay and Courtney Vachon on completing their requirements and earning their Chartered Professional Accountant designation.
GSE is very proud of the dedication and hard work that Lindsay and Courtney invested into achieving this professional milestone.
Lindsay earned her Bachelor of Management and Organizational Studies specializing in Accounting degree from the University of Western Ontario. She joined the firm in 2015.
Courtney joined GSE in 2016. She earned her Honours Bachelor of Commerce degree from Laurentian University and Business Accounting Diploma from Fanshawe College.
Both Courtney and Lindsay work out of our St. Thomas office, bringing their professionalism and personal approach to clients in a variety of sectors and industries, working in the assurance, accounting and corporate and personal tax areas.
Please review the year-end tax planning document below for tips.
The 2018 personal income tax return checklist has valuable information for all clients.
2018 Personal Income Tax Return Checklist
The Federal Government released the Fall Economic Statement including certain tax measures to increase the write off for capital assets acquired. Full details are included in the following attachment:
2018 – Federal economic update – November 21, 2018
Tax information included in the information released by the Ontario Government November 15, 2018 can be found in the following document:
Highlights:
Tax Ticklers
Retaining Employment Insurance (EI) Benefits: Starting Part-Time Work
Director’s Liability: Helping Out Family
Tax On Split Income (TOSI): Can I Take a Salary Instead of a Dividend?
Active Business vs. Property Income: Music Royalties
Contractor vs. Employee: Agreement on Contractor Status Is Not Enough
Divorce Settlement: Family Business
Highlights:
Tax Ticklers
Subsidized Meals: Are They a Taxable Benefit?
Employer-Sponsored Social Events: After the Party
Personal Use of Business Aircraft: How Big of a Taxable Benefit Is It?
Directors: Can They Be Liable for Corporate Income Taxes?
Interest on Delinquent Accounts: Proper Disclosure on Legal Documents
Donation Receipts: How Complete is Complete?
Interest Deductibility: Returns of Capital
Input Tax Credits: Making Timely Claims
We are a proud partner of the @NewCanvasofLife event taking place at the @GrandTheatre on Tuesday, May 29 in support of the Multi-Organ Transplant Program at LHSC. Tickets are still available to see Juno award-winning @Ron Sexsmith. Get your tickets today at https://www.grandtheatre.com/event/new-canvas-life
Highlights:
Tax Ticklers
Digital Currency: Basics and Tax Implications
Family Members: Can I Pay Them a Salary?
Corporate Passive Investment Income: Proposed Changes
Reasonable Automobile Allowances: GST/HST Claim
Construction Activities: Reporting Obligations for Subcontractors
U.S. Citizens: Risks of Tax Non-Compliance
CRA Mobile Phone Apps: Individuals and Businesses
MSN has created a handy list of tax deductions that taxpayers may overlook.
