By Liz O'Dowd on August 9, 2012 
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Charities play a very important role in Canadian society. As a donor, it is important to be informed and make wise decisions about your donations. Unfortunately, there are people who pretend to raise money for charity but keep the donations… {Read more}
By Liz O'Dowd on March 23, 2012 Leave a comment
If you think that paying for your employee’s disability premiums is always a good thing, think again. As a non-taxable fringe benefit, payments they receive upon their disability will be, in most cases, FULLY taxable to them! Payments received due… {Read more}
By Liz O'Dowd on March 7, 2012 Leave a comment
The Canada Learning Bond (CLB) is part of the Canadian RESP program. Actually the CLB is a grant. The big difference between this grant and the regular RESP grants is that no contribution is required. Once you qualify, you apply,… {Read more}
By Liz O'Dowd on March 6, 2012 Leave a comment
It’s crucial to know whether your workers are employees or independent contractors. Big dollars may be at stake in the form of Federal and provincial assessed penalties resulting from mis-classification. The validity of your company’s pension plan may also be… {Read more}
By Liz O'Dowd on March 6, 2012 Leave a comment
One of the more common expenses claimed by taxpayers are automobile expenses (applies to any motor vehicle such as van, bus, pickup truck, station wagon, SUV or other truck). Many individuals use their automobile for work or business and incur… {Read more}
By Liz O'Dowd on March 6, 2012 Leave a comment
A RESP is a savings plan for post-secondary education which allows funds to accumulate on a tax-deferred basis up to certain limits. There is no annual limit for contributions. For each beneficiary the lifetime limit on contributions is $50,000. Although… {Read more}
By admin on February 14, 2012 Leave a comment
The Canada Revenue Agency (CRA) will revoke the charitable registration of Escarpment Biosphere Foundation Inc., a Toronto area charity. The notice of revocation will be published in the Canada Gazette with an effective date of February 11, 2012. On January 3,… {Read more}
By admin on February 14, 2012 Leave a comment
The Ontario government is moving forward with a responsible plan to eliminate the deficit so that more jobs are created and the economy continues to grow. Since the introduction of the 2011 Budget, growth in the global economy has slowed…. {Read more}
By admin on February 14, 2012 Leave a comment
There are some types of employment payments and other payments from which CPP or QPP contributions do not have to be deducted. Also, if a person has more than one employer in the year and earns total employment income which… {Read more}
By admin on February 8, 2012 Leave a comment
On January 1, 2012, all indexed personal income tax amounts, including tax bracket thresholds and amounts used to calculate non-refundable tax credits, were adjusted by 2.8%. The Canada Child Tax Benefit and the goods and services tax credit will take… {Read more}