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
Tax Tips and Traps 2nd Quarter, Issue 122
On February 27, 2018 the Minister of Finance presented the budget for 2018. The budget contains the awaited rules designed to restrict the ability of corporations to accumulate passive investment assets. Further details can be found in the following document:
Federal Budget 2018 – February 27, 2018
Income Sprinkling: Where Are We Now?
Input Tax Credits: Checking Up On Suppliers
Marijuana: A Growing Industry
Loans To A Relative’s Business: What Happens When It Goes Bad?
Business Failure: Personal Liability for Corporate Tax Debt
Commission Paid To A Corporation: Any Issues?
Tax Tips & Traps 1st Quarter 2018 – Issue 121
Highly Motivated Professionals
Congratulations to our successful CFE writers
Jacob Perry, Mary Jane Miller and Blake Gough
The future is bright for this talented group of professionals on their way to becoming Chartered Professional Accountants!
Jacob, Mary Jane and Blake all started with GSE at our St. Thomas office through their university co-op placements.
Blake joined the firm full time in 2016 and Jacob and Mary Jane in January 2017.
All of us at Graham Scott Enns are very proud of the dedication they have displayed in their preparation for the CFE and join them in celebrating the successful passing through the examination process.
On December 13, 2017 the government released the new proposed rules on income sprinkling to be effective January 1, 2018. Please see the link below for more details.
Taxpayers with corporations should seek professional advice before paying any dividends on or after January 1, 2018.
Revised Income Splitting – December 13, 2017
Megan joined GSE in 2008 as a manager in the Aylmer office and will become an associate in 2018. She enjoys providing assurance, accounting and taxation services to clients in a wide range of sectors, including owner-managed small business, manufacturing and not-for-profit. Megan strives to provide solid client service and believes in building strong relationships with clients. Megan is an active member and supporter of both the Aylmer Christian Reformed Church and Immanuel Christian School (Aylmer).
Megan Siemens, CPA, CA
Please review the 2017 Personal Income Tax Return checklist and 2017 Year End Tax Planning document links below.
2017 Personal Income Tax Return Checklist
2017 YE Tax Planning Doc – TTT
Please see the attached summary regarding changes to the Ontario corporate tax rates and other items announced by Finance Minister Charles Sousa.
Ontario Fall Economic Outlook and Fiscal Review 2017
The attached document summarizes government announcements regarding changes to the changes to the Income Tax Act proposed July 18, 2017.
Revised Tax Announcements – Week of October 16 – 20, 2017