Tax Changes December 7, 2015 (Updated)
The government has introduced a motion in Parliament to proceed with certain proposed income-tax changes. They have stated that the changes will take effect in 2016. The income-tax rate on …
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Tax Tips & Traps Fourth Quarter – Issue 112
Highlights: Tax Ticklers CRA Using Social Media? Gift Cards for Promotional Purposes Books and Records Retention Blogger’s Business Losses TFSA Contribution Room CRA Collections Change to the Fiscal Period Providing …
Read moreTax Tips & Traps Third Quarter – Issue 111
Highlights: Tax Ticklers The Underground Economy: CRA Highlights High-Risk Industries Employee Benefits: Tax Efficient Compensation Farms – Sales of Land and Related Rights: Business Income or Capital Gain? Leasehold Improvements …
Read moreTax Tips & Traps Second Quarter – Issue 110
Highlights: Tax Ticklers Owner-Managed Business Transitions: Planning in Advance Loans for Value Day Trading in an RRSP, RRIF or TFSA Family Tax Cut Foreign Reporting U.S. Persons in Canada GST/HST …
Read moreDividends
The Government has proposed new rules regarding the payment of inter-corporate dividends for inclusion in the Income Tax Act. These rules will restrict the amount of dividends that can be …
Read moreBeware of Fraudulent Communications
The Canada Revenue Agency is aware of scams being perpetrated by people claiming to be Canada Revenue Agency Representatives. If you are contacted by the Canada Revenue Agency in any …
Read moreTax Tips & Traps First Quarter – Issue 109
Highlights: Family Tax Cut Canada Job Grant Disability Tax Credit Employment Expenses Government Collection Policies Gift Taxing Shelter GST/HST and Taxable Benefits Resource for Americans Abroad Federal Not-For-Profit Corporations Act …
Read moreFiling of T4’s, T5’s and other Tax reporting forms
The T4 tax reporting forms for employees must be filed with the Canada Revenue Agency by the end of February to avoid penalties for late filing. T5 forms reporting dividends, …
Read moreCanadian Snowbird Association Infomation on US Tax Forms
The Canadian Snowbird Association has information on US Tax Forms at the following location: http://www.snowbirds.org/tax-forms
Read moreYear End Tax Planning
Please review the attached tips and traps for year end tax planning. Please contact our office to discuss any items and their applicability to your personal situation. TTT108_YTP
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