This blog is for general informational purposes only, may not be applicable to your circumstances and is not intended as tax advice.
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2014 Personal Income Tax Checklist
Have trouble getting all your personal tax documents together? Terrified you are forgetting something? Our handy 2014 personal income tax checklist is now available for download: https://pelcpa.ca/pel-wp/pel-wp/wp-content/uploads/2015/03/T1-General-Checklist-2014.pdf. You have until March 31,…
March 2, 2015 -
Federal Not-for-Profit Corporations Act: Did You Miss the Transition?
Industry Canada published a list of Frequently Asked Questions to assist corporations incorporated under Part II of the Canada Corporations Act who were required to continue under the new Act (Canada Not-For-Profit…
February 23, 2015 -
Take Tax Advice From CRA With a Grain of Salt
According to a recent CBC article1, an internal Canada Revenue Agency survey found that 1 out of 4 callers to CRA’s business tax line are given incorrect information. The survey “confirms repeated…
February 16, 2015 -
When You Owe the Government Money Other than Taxes
CRA collects amounts owed for not just tax programs, but also for other government programs, including, for example: defaulted Canada Student Loan; provincial medical services plan premiums (e.g., MSP) Employment Insurance overpayment;…
February 10, 2015 -
GST/HST and Taxable Benefits: Impact on Employee and Employer
The provision of some benefits to employees may be subject to GST/HST. Essentially, the CRA wants to ensure that the same amount of GST/HST is paid whether an employee purchases a good…
February 2, 2015 -
CRA Goes Proactive!
Canada Revenue Agency is taking a proactive approach to helping small and medium-sized businesses meet their tax obligations, thus saving businesses time and money by helping them to avoid problems before they…
January 26, 2015 -
Lump-Sum Support Payment: Deductible?
In order for spousal support payments to be deductible to the payer, the recipient must have discretion as to its use, the individuals must be living separate and apart because of a…
January 12, 2015 -
New Year, New Interest Rates (sort of)
Canada Revenue Agency has announced their prescribed interest rates for the first quarter of 2015. There have been no changes to the third quarter 2014 rates with the exception of the interest…
January 5, 2015 -
Last Blog of 2014! Get Your Year End Planning Tips Here!
The 4th Quarter 2014 PEL Tax Break is now available for download [here]. We have also uploaded some Year End Tax Planning Tips for individuals and Remuneration Planning Tips for owners of…
December 22, 2014 -
Holiday Closure Notice (and the Best of the Holiday Season to You!)
The team at PEL would like to wish you and your families a very Happy Holidays and all the best for 2015. Our office will be closing for the holidays at 2:30pm…
December 15, 2014