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Interest rates on overdue taxes has increased
The interest rate on overdue taxes for the first quarter of 2023 (January 1 – March 31, 2023) has increased to 8%. Make sure to get those payments in to CRA on time!
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Ladner Village gets in the Halloween spirit
The 7th annual Ladner Village Scarecrow Contest is now upon us during these cooler autumn days. If you come down to Ladner Village in October, you will no doubt see local businesses getting creative. While the goal is community spirit and Halloween fun, the scarecrows are voted on both by the public. The pressure is on. Thank you and Happy Halloween!
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Canadian with Type 1 Diabetes will qualify for Disability Tax Credit
It has been announced that the approximately 300,000 Canadians living with type 1 diabetes (T1D) can now automatically qualify for the federal disability tax credit. The disability tax credit (DTC) is a non-refundable tax credit that helps people with disabilities or their support people/family members reduce the amount of income tax they may have to pay. This will undoubtedly ease the financial burden caused by unavoidable and necessary life-saving expenses faced by everyone with T1D.
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Eligible employees entitled to a minimum of 5 paid sick days each year
Employers and workers throughout B.C. are reminded that, as of Jan. 1, 2022, eligible employees are entitled to a minimum of five paid sick days each year.
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New federal Covid-related subsidies
The Canada Emergency Wage Subsidy (CEWS) ends effective October 23, 2021.
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BC Increased Employment Incentive
The B.C. Increased Employment Incentive is a one-time refundable tax credit for employers. The deadline to apply is December 31, 2021.
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BC PST Rebate on Select Equipment and Machinery
The B.C. PST Rebate on Select Machinery and Equipment is a temporary provincial sales tax (PST) program to help corporations recover from the financial impacts of COVID-19.
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Protect yourself against fraud
Taxpayers should be vigilant when they receive, either by telephone, mail, text message or email, a fraudulent communication that claims to be from the Canada Revenue Agency (CRA) requesting personal information such as a social insurance number, credit card number, bank account number, or passport number.
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Fuel Tax Refund Program for Persons with Disabilities
The government of BC offers a fuel tax refund program for persons with disabilities to help reduce transportation costs. Recent updates include a fuel tax refund of up to $500 per year.
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New Rebate and Incentive Programs from the Government of BC
The BC Government has announced a new PST rebate on select machinery and equipment and an increased employment incentive program. These measures are intended to offer help to qualifying corporations as they recover from financial impacts of COVID-19.
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B.C.'s minimum wage will increase June 1, 2021
On June 1, 2021 British Columbia’s general minimum wage will increase by $0.60 to $15.20 per hour. The minimum wage for employees who serve liquor will increase to $15.20 per hour.
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Canada Recovery Hiring Program
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Employees Working From Home During COVID-19
Due to the COVID-19 pandemic, many employees worked from home during a portion of 2020. On December 15, 2020, CRA released guidlines on two new options available for employees claiming expenses related to working from home.
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BC Recovery Benefit
The BC Recovery Benefit is a one-time direct deposit payment for eligible families, single parents or individuals.
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Christmas Greetings from Beth and staff
Video fun from all of us at Beth Stuart & Associates CPA!
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Christmas Ode to Ladner
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Santa Visits Ladner
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Further updates to CEWS, CEBA and CERS
The Government of Canada issued a news release on October 9, 2020 announcing their intention to introduce new and/or revised support for business and other organizations impacted by the COVID-19 pandemic.
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Common Law? Married? Separated?
Has your marital status changed?
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COVID-19 Related Scams
COVID-19 has provided an opportunity for fraudsters to profit from consumers' fears and uncertainties.
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One-time payment support for Canadians living with disabilities
The Government of Canada has announced a one-time payment of $600 to help persons living with disabilities, in recognition of some of the extraordinary expenses they have encountered during the COVID-19 pandemic. Individuals who are determined to be eligible for the disability tax credit (DTC) or certain other disability-related benefit programs, may be entitled to receive the payment.
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Have you changed your email address?
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Business Development Bank of Canada (BDC) Financing and Advisory Services
The Business Development Bank of Canada supports small and medium-sized businesses in all industries and at every stage of growth with money and advice.
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COVID-19 - Phase 3 - BC's Restart Plan
As of June 24, 2020, we entered Phase 3 in BC's Restart Plan ... just in time for summer!
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Canada's COVID-19 Economic Response Plan
The Government of Canada is taking immediate, significant and decisive action to help Canadians facing hardship as a result of the COVID-19 outbreak. On March 18, 2020, the Prime Minister announced a new set of economic measures to help stabilize the economy during this challenging period. These measures, delivered as part of the Government of Canada’s COVID-19 Economic Response Plan, will provide up to $27 billion in direct support to Canadian workers and businesses.
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Being proactive regarding Coronavirus outbreak (COVID-19)
As the world monitors the situation with COVID-19, we wanted to take a moment to reach out to you, our clients. We are in the heart of our busiest season and are working incredibly hard to provide our best service and advice. We hope you and your families are staying healthy and we want to provide an update on the steps we are taking to ensure the health and well-being of our staff and to keep things running smoothly and consistently. Beth Stuart & Associates, CPA is closely watching developments with respect to COVID-19, including information and guidance published by healthcare authorities around the globe. We are taking precautionary health measures, including frequent hand washing, wiping down surfaces at reception, social distancing
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Tuition Slips for Post-Secondary Institutions
Starting in the 2019 tax year, all Designated Educational Institutions (DEI) in Canada will have to use the new Form T2202, Tuition and Enrolment Certificate. DEIs will have to file a T2202 information return electronically with the Canada Revenue Agency (CRA) by the end of February of the following calendar year. Please make sure that your post-secondary institution has your SIN number so that it can be automatically added to your T1 Income Tax Return.
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UPDATE: New Home Buyers' Plan
The Home Buyers' Plan (HBP) is a program that allows you to withdraw from your registered retirement savings plans (RRSPs) to buy or build a qualifying home for yourself or a related personal with a disability. The maximum amount you can withdraw from your RRSP under the Home Buyers’ Plan increased from $25,000 to $35,000 for withdrawals made after March 19, 2019.
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Direct Deposit - Don't Miss a Payment!
Direct deposit is fast, convenient and secure. Register for direct deposit today to ensure you get your payments on time in the event of an emergency or unforeseen circumstances! If you set it up now, it will likely be in place for personal income tax season!
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Fraudulent emails and phone calls - Protect yourself!
Taxpayers should be vigilant when they receive, either by telephone, mail, text message or email, a fraudulent communication that claims to be from the Canada Revenue Agency (CRA) requesting personal information such as a social insurance number, credit card number, bank account number, or passport number.
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Office of the Information & Privacy Commissioner for British Columbia
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E-Courier - Email Protection
Clients trust professionals to safeguard their sensitive information. Using e-mail is just like sending a postcard. Sensitive information such as SIN#'s, birthdates and financial information can easily be intercepted and cause serious harm such as identity theft and ruin your reputation and the association that you belong to.
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Parking in Ladner Village
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Office closed Monday, July 22nd
BC Hydro - Pole Replacement
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B.C.'s minimum wage will increase June 1, 2019
On June 1, 2019, British Columbia's general minimum wage will increase by $1.20 to $13.85 per hour. The minimum wage for employees who serve liquor will increase to $12.70 per hour.
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Parking alert Saturday March 23, 2019
There will be filming on Delta Street on Saturday, March 23rd so you may find parking limited if you are coming to our office that day. The parking spot in the area at the rear of the building (under cover) marked "Reserved 1" will be available for clients to used on March 23rd.
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B.C.'s Speculation and Vacancy Tax
BC'S SPECULATION AND VACANCY TAX Everyone who is a property owner should receive the instructions.
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Canada Pension Plan Enhancement
The Canada Pension Plan enhancement - Businesses, individuals and self-employed: what it means for you
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New information on tuition tax credits
Students and Income Tax 2017 If you were a student in 2017, this guide will give you helpful information about filing your income tax and benefit return.
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Congratulations - client wins award at car show!
Congratulations to Morris and Coralie Barnett for their car taking the "Best Import" award at the 14th annual Quilt Walk and Car Show in historic Ladner Village on August 19th. The winner is a 1958 Jaguar XK 150 Roadster 1958. Purchased in 1983 it was a California car from Laguna Beach. Only 2,265 Roadsters were produced between January 1958 to November 1960, with only 666 registered world-wide to-date. Congratulations Morris and Coralie! Its a beautiful car!
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Protect Yourself Against Fraud
Taxpayers should be vigilant when they receive, either by telephone, mail, text message or email, a fraudulent communication that claims to be from the Canada Revenue Agency (CRA) requesting personal information such as a social insurance number, credit card number, bank account number, or passport number. Read more here to learn: how to identify communications not from Canada Revenue Agency how to recognize a scam how to report a scam how to protect yourself from identify theft You will also find stories of how others fell victim to scams and valuable resources for more information.
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Parking alert April 30, 2018
There will be filming on Delta Street on Monday, April 30th so you may find parking limited if you are coming to our office that day. The parking spot in the area at the rear of the building (under cover) marked "Reserved 1" will be available for clients to use on April 30th. Thank you.
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CPABC's RRSP & tax tips for 2017
Tax season is almost here! CPABC's RRSP and tax tips for 2017!!!
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Take charge of your finances
As the season of indulgence approaches (financial and/or caloric) ... not soon after arrives the season of resolutions!!! And let's face it ... weight gain aside, we can all use personal finance advice from time to time. You may want to jump start your resolutions by checking out helpful tips on subjects such as ...
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More 2016 Census data now available!
Data on income recently released! Other interesting previously released statistics include topics such as: population and dwellings; age and sex; families and language.
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B.C.'s minimum wage will increase on September 15, 2017
On September 15, 2017, British Columbia's minimum wage will increase 50 cents to $11.35 per hour. The minimum wage for employees who serve liquor will increase to $10.10 per hour. This will also affect live-in home support workers.
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Back to school? Save your receipts.
Find information about the amounts you may be able to claim as a deduction or a credit related to education. This includes, tuition, education, and textbook amounts, interest paid on student loans, and moving expenses.
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Payroll deductions - updated tax rates effective July 1, 2017
The July 1, 2017 edition of the Payroll Deductions Online Calculator (PDOC) is now available on the CRA website.
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EI special benefits for self-employed people
Under the Employment Insurance Act, self-employed Canadians and permanent residents—those who work for themselves—are able to apply for EI special benefits if they are registered for access to the EI program.
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Top questions Canada Revenue Agency gets at tax time
Every year around tax time, Canadians call the CRA with a variety of questions. Find out CRA's answers to the top questions asked at tax time.
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Reporting the sale of a principal residence
Starting in the 2016 tax year you will be required to report basic information (date of acquisition, proceeds of disposition and description of the property) on your income tax return.
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Seniors: Enjoy your golden years with these tax credits and benefits
The Canada Revenue Agency (CRA) wants seniors to get the tax credits, deductions and benefits they are eligible for.
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What is the disability tax credit?
The disability tax credit (DTC) is a non-refundable tax credit used to reduce income tax you pay. It's available for people with a severe and prolonged physical or mental impairment subject to approval by the Canada Revenue Agency (CRA).
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Let's Light Up Ladner!
The Ladner Business Association (LBA) has launched a “Let’s Light Up Ladner†campaign with the goal to light up the trees in Ladner Village.
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New tax credit for educators will benefit Canada's children
The Government of Canada is offering a new school supply tax credit for teachers and early childhood educators.
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Tax Time 2016: 10 myths that mislead Canadians
There have been falsehoods that have grown over the years concerning the income tax system and filing of tax returns. Many of those perceptions are no longer accurate. Here are some common myths and corresponding facts surrounding them.
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Tax Time 2016: New for filing this year
From the Family tax cut to child-care expenses to foreign income verification ... there are some changes for the new tax year that you may find useful to read about.
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Making the switch to direct deposit
The federal government is encouraging Canadians to receive payments via direct deposit beginning April 2016. Anyone who has not already arranged to have payments made by way of direct deposit may want to make arrangements now to ensure that Canada Revenue Agency (CRA) has the information needed to make direct deposit payments to their bank accounts.
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2015 T-Slips deadline is February 29, 2016
It's that time of year again when 2015 T-slips (T4's, T5's, etc.) should be issued to meet the filing deadline of February 29, 2016 as required by Canada Revenue Agency. If you require our assistance, please contact the office as soon as possible to determine what we may need from you to complete the slips. If we have not heard from you by February 10, 2016 we will assume that you do not need our assistance with preparing your 2015 T-slips.
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Office hours update
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Changes affecting your GST/HST return
Starting October 19, 2015, the Canada Revenue Agency is implementing changes to help reduce red tape for businesses and simplify its electronic services.
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BC's minimum wage will increase on September 15, 2015
On September 15, 2015, British Columbia's minimum wage will increase 20 cents to $10.45 per hour. The minimum wage for employees who serve liquor will increase to $9.20 per hour. This will also affect live-in home support workers.
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Know how to recognize a scam
Taxpayers should be vigilant when they receive, either by telephone, mail, text message or email, a fraudulent communication that claims to be from the Canada Revenue Agency (CRA) requesting personal information such as a social insurance number, credit card number, bank account number, or passport number.
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Want to invest in a TFSA?
Find out how your savings can grow.
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Enhanced Universal Child Care Benefit (UCCB)
Under proposed legislation, the Government is increasing and expanding the UCCB starting in 2015. The UCCB is being enhanced by providing up to $1,920 per year for each child under the age of 6, and introducing a new benefit of up to $720 per year for children aged 6 through 17.
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Tax cuts and increased benefits for Canadian families
The Honourable Kerry-Lynne D. Findlay, P.C., Q.C., M.P., Minister of National Revenue, attended a Family Day event to encourage Canadian families to take advantage of the new and enhanced tax relief measures this filing season.
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Protect yourself from fraud during tax filing season
Every year, there are frequent reports of scammers who call or email Canadians, claiming to be CRA officials and attempting to trick Canadians into providing money and/or personal information. Canadians are reminded to protect their personal information and to beware of telephone and email scams, especially during tax filing season when these scams are most common. Minister Kerry-Lynne Findlay, Minister of National Revenue, emphasizes the importance of reporting scams in order to protect other Canadians from fraud.
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Hockey Day in Canada is coming to Delta on February 14th!
Excited to hear that Hockey Day in Canada was coming to Delta on Saturday, February 14, 2015, I was delighted to offer my support to this inspiring event that celebrates our beloved national sport.
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Canada-BC Job Grant
The Canada-BC Job Grant program can help you offset the expense of employee training and boost the effectiveness of your workforce.
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Delta small and medium-sized business owners consulted on cutting red tape
The Honourable Kerry-Lynne D. Findlay, P.C., Q.C., M.P., Minister of National Revenue was in Delta, British Columbia, on November 21, 2014 to speak with local business owners as part of a red tape reduction roundtable hosted by the Delta Chamber of Commerce. The Canada Revenue Agency (CRA) is conducting consultations with small and medium-sized businesses, their accountants, and bookkeepers on progress to date in reducing red tape as well as future activities to meet the needs of the small and medium-sized business community.
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A Gingerbread Tree Festival
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Big news for small business: details of first-ever credit card fee reduction
On November 4, 2014, Visa and MasterCard announced the first-ever REDUCTION in the interchange fees you pay to accept credit cards and a freeze in those rates for an additional five years.
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Minister Findlay congratulates CPA Canada on their official unification
The Honourable Kerry-Lynne D. Findlay, P.C., Q.C., M.P., Minister of National Revenue, congratulates the Chartered Professional Accountants of Canada (CPA Canada) on their recent merger of all accounting professions. Under one name, CPA Canada provides services to Chartered Professional Accountants, Chartered Accountants, Certified Management Accountants, and Certified General Accountants.
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Save yourself the trouble - get it in writing!
Before you decide to hire a contractor to do construction, renovation, or repair work on your home, ensure they are reputable and insist on getting a written contract and receipts.
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ALS Ice Bucket Challenge - received and met!!!
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Business Tax Reminder Mobile App now available
Remembering tax deadlines just got easier for small and medium-sized businesses, thanks to the new Business Tax Reminders mobile app.
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Learn all about the new polymer notes
The Bank of Canada has been issuing bank notes since 1935 and periodically upgrades your notes by releasing a new series. These upgrades are made to stay ahead of counterfeiting and to improve the security of notes in circulation. The Bank is also responsible for ensuring that Canadians have access to bank notes that they can use with confidence.
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80% of Canadians are filing online!
The Honourable Kerry-Lynne D. Findlay, P.C., Q.C., M.P., Minister of National Revenue, announced today that 80 per cent of Canadians filed their income tax return electronically this year, an increase of 6 per cent over last year. As of July 2, 2014, over 21 million Canadians took advantage of Canada Revenue Agency (CRA) electronic filing services, up from 20 million this time last year.
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Making a payment to the CRA
Did you know? The Canada Revenue Agency (CRA) offers online payment methods that make paying taxes as easy as paying your hydro or phone bill.
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Coming August 17, 2014 - The Annual Quilt Walk & Car Show
The 2013 Quilt Walk & Car Show was a great success with almost 400 cars and quilts on display ... and an estimated crowd of 10,000 people. Mark your calendars for Sunday, August 17th for this year's show!
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CRA and direct deposit - facts vs. myths
The Government of Canada will increase the use of direct deposit by phasing out federal government cheques by April 2016. Find out about the facts vs. the myths and learn about the benefits of direct deposit.
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Filing or paying late?
Don't delay ... pay what you owe to the CRA. Outstanding balances may be subject to penalties and interest once the deadline has passed.
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Congratulations to Mike Owen - Inducted into the Fraser River Hall of Fame
Friends, family and colleagues came out to pay tribute to Mike Owen of Ladner Reach Properties as he was inducted into the Fraser River Hall of Fame in early November. Mike is the 22nd recipient of the honour awarded by the Fraser River Discovery Centre and was recognized for his tireless efforts, 'get-er-done' attitude and endless contributions toward the stewardship of the Fraser River.
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Heartbleed bug - Statement by the Commissioner of the CRA
After learning that the Canada Revenue Agency (CRA) systems were vulnerable to the Heartbleed bug, the CRA acted quickly to protect taxpayer information by removing public access to its online services on April 8, 2014.
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Beware of telephone and email scams
The Canada Revenue Agency (CRA) warns all taxpayers to beware of telephone calls or emails that claim to be from the CRA but are not. These are phishing and other fraudulent scams that could result in identity and financial theft.
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Did you buy a home in 2013?
Did you know? If you bought a home in 2013, the Canada Revenue Agency has a tax credit and a plan that may help you save on this purchase.
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Valuable information for tax time
Did you know? The Canada Revenue Agency is here to help you during tax season. Here's some information you should know about your taxes, including ways to save money at tax time.
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Living in Retirement
Canadians are living longer than ever before, and today's retirement landscape looks quite different than it did 30 or 40 years ago. The average Canadian reaching 65 years old in 2013 can expect to live until age 87, which is about five years longer than the life expectancy of the average Canadian reaching age 65 in 1970.
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Top Things Families Should Know About Taxes
Did you know? There are lots of benefits, credits, and deductions to help families with their expenses throughout the year and reduce the amount they owe at tax time.
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Life Events: Having a Baby
If you have a new baby or have a baby on the way, there are plenty of credits and benefits you may be entitled to receive.
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Top Ways for Students to Save at Tax Time
Did you know? The Canada Revenue Agency (CRA) has tax credits, deductions, and benefits to help students. All you have to do is file your income tax and benefit return and claim them.
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Identity Theft
Identity theft is one of today's fastest growing problems. Victims of identity theft can spend days, weeks and even months undoing the damage caused by identify theft.
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The Payroll Deductions Formulas for Computer Programs (T4127) effective January 1, 2014, is now available on the CRA Web site.
Use this guide if you are a payroll software provider or a company which develops its own in-house payroll solution.
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The Canada Revenue Agency reminds Canadians: Beware of phishing schemes
These are phishing scams that could result in identity thefts. Email scams may also contain embedded malware, or malicious software, that can harm your computer and put your personal information at risk. The CRA does not email Canadians to request personal information.
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As visions of gingerbread calculators danced in our heads ...
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Jonathan meets Kerry-Lynne Findlay during a recent roundtable event
Staff member, Jonathan Choboter, C.G.A., recently attended a roundtable event hosted by Minister Kerry-Lynne Findlay to highlight measures introduced by the Harper Government to reduce red tape for small business.
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Pensionable Earnings for 2014
Canada Revenue Agency announces maximum pensionable earnings for 2014.
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An Overview of PST Exemptions
In August, BC issued PST 200, a 27-page bulletin providing an overview of PST exemptions found in the Provincial Sales Tax Act and the Provincial Sales Tax Exemption and Refund Regulation.
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BC's Accountants Unite under Chartered Professional Accountant Designation
Vancouver, BC May 9, 2013 - The Chairs and CEOs of the Certified Management Accountants Society of BC (CMA BC) and the Certified General Accountants Association of BC (CGA-BC), and the President and CEO of the Institute of Chartered Accountants of BC (ICABC) have signed an agreement to pursue a merger. The three self-regulated accounting professions are working to unite under the Chartered Professional Accountant (CPA) designation.
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Harper Government Supports Job Creation with Three-Year Freeze of Employment Insurance Premium Rates
The Harper Government announced today that it will freeze the Employment Insurance (EI) premium rate for employees at the 2013 level of $1.88 per $100 of insurable earnings for 2014, and additionally that the rate will be set no higher than $1.88 for 2015 and 2016.
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Potential Scam Alert for Businesses
Thanks to two alert local business owners, Vancouver Police have been made aware of a potential scam currently making the rounds.
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PST Outreach
PST Education Program (PSTEP) - PSTEP is available to all businesses operating in B.C. The ministry will try to reach as many businesses as possible to promote voluntary compliance with the PST.
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Harper Government providing Canadian families with back-to-school tax relief
The Honourable Kerry-Lynne D. Findlay, P.C., Q.C., M.P., Minister of National Revenue, and Susan Truppe, Member of Parliament for London North Centre, today reminded students returning to school to take full advantage of the important financial relief available to them
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Canadians are filing online in greater numbers this year
The Canada Revenue Agency (CRA) announced today, that over 76 per cent of Canadians filed their income tax return electronically this year, an increase of 17 per cent over last year. As of June 20, 2013, 20 million Canadians took advantage of our electronic filing services, which is up from 17 million this time last year. Electronic filing is quickly increasing in popularity as tax filers discover how convenient, easy, and secure filing online really is.
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Harper Government launches new right to ensure Canadian taxpayers are treated fairly
The Honourable Gail Shea, Minister of National Revenue, announced today the addition of a new right to the Taxpayer Bill of Rights, which gives Canadian taxpayers the ability to lodge a service complaint and request a formal review without fear of reprisal. Minister Shea also met with members of Certified General Accountants (CGA) Canada to discuss taxpayer fairness.
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Harper Government announces new requirements for Canadians with offshore property and income
Parliamentary Secretary Cathy McLeod was in Vancouver today to announce the launch of a strengthened Foreign Income Verification Statement (Form T1135), one of the Economic Action Plan 2013 measures to crack down on international tax evasion and aggressive tax avoidance. Mrs. McLeod met with members of Certified General Accountants (CGA) Canada to discuss taxation issues, including how best to combat international tax evasion and aggressive tax avoidance.
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Beware of fraudulent communications
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Paying your taxes is simple with the CRA's online services
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Grab that teachable moment - talk to your kids about taxes
Did you know? Students who do not file a tax return may be missing out on benefits and tax credits.
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Caring for dependants? Depend on the new family caregiver amount
Did you know? The new family caregiver credit (FCA) helps Canadians with the costs of caring for a dependant with a mental or physical impairment.
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Return to PST
B.C. has return to a provincial sales tax (PST) system.
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Tax savings for tradespersons
Did you know? If you were an employed tradesperson in 2012 (including an eligible apprentice mechanic), you may be able to deduct up to $500 of the cost of eligible tools bought to earn your employment income.
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Top things families should know about taxes
Did you know? The Canada Revenue Agency (CRA) has a number of benefits, credits, and services to help families meet their financial obligations throughout the year, reduce the amount that they owe at tax time, and provide them with convenient online options.
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CPT30 Election to Stop Contributing to the Canada Pension Plan, or Revocation of a Prior Election
On January 1, 2012, changes to the rules for deducting CPP contributions came into effect.
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GST/HST Technical Publication - Phasing Out of The Penny
As part of the Economic Action Plan 2012, the Government ammounced that it will phase out the penny from Canada's coinage system. While the cent will remain Canada's smallest unit for pricing goods and services, the Royal Canadian Mint will no longer distribute pennies as of Febrary 4, 2013. Click on the link to learn more about how this will affect GST/HST calculations
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The January 1, 2013, edition of the Payroll Deductions Online Calculator (PDOC) is now available on the CRA Web site.
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2013 indexation adjustment for personal income tax, benefit amounts, and the annual dollar limit for Tax-Free Savings Accounts (TFSAs)
Each year, certain personal income tax and benefit amounts are indexed to inflation using the Consumer Price Index data as reported by Statistics Canada. Increases to tax bracket thresholds, amounts relating to non-refundable credits, the annual TFSA dollar limit, and most other amounts will take effect on January 1, 2013. To see the chart comparing the indexed amounts for the 2012 and 2013 tax years, click on read more.
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Canada Revenue Agency announces maximum pensionable earnings for 2013
The Canada Revenue Agency announced today that the maximum pensionable earnings under the Canada Pension Plan (CPP) for 2013 will be $51,100 (up from $50,100 in 2012). The new ceiling was calculated according to a CPP legislated formula that takes into account the growth in average weekly wages and salaries in Canada.
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Hiring Credit for Small Business
Economic Action Plan 2012 extended the Hiring Credit for Small Business, which helps offset the cost of hiring new employees and will be automatically applied when a qualifying business files its 2012 T4 information return. The CRA will calculate the credit - no added burden for businesses.
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Canadian Businesses: Stay informed with CRA videos
Our series of tax information videos for business is an exciting new addition to the online resources at CRA. The videos contain important information about starting and maintaining a business with the CRA. They are a great alternative to tax guides; offer a new way for businesses to gather tax information anytime, anywhere; and help small businesses get it right from the start.
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Need Help? Looking for services in your community? Just dial 211!
While there are excellent community programs available, many citizens have difficulty finding the services they need. Service providers also face challenges trying to locate appropriate community services for their clients. BC211 and the United Way are very pleased to announce that Lower Mainland residents are now able to access 211 services that provide an easy, visible, and non-judgmental entry point for people looking for help, 24/7, 365 days of the year.
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New Statutory Holiday in B.C.
British Columbians will now have a day in February to spend with the family. As of Feburary 2013, Family Day, a new statutory holiday in B.C., will be implemented.
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Debunking Tax Myths
There are groups and individuals in Canada who claim that people can lawfully refuse to pay taxes or file a tax return. Others try to cash in on misunderstandings about tax laws. To help you understand the truth about taxes, the CRA wishes to address some misleading statements and myths about Canada's tax laws and the way they are administered. The CRA also strongly encourages you to always consult with a knowledgeable and trusted advisor before making any significant tax decision.
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HST to end and PST to be reinstated by April 1, 2013
The government plans to re-implement the provincial sales tax (PST) on April 1, 2013.
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Canada Revenue Agencies - My Business Account
The Honourable Gail Shea, Minister of National Revenue, and the Honourable Maxime Bernier, Minister of State (Small Business and Tourism), announced today that it is now even easier for businesses to get information they can count on from the Canada Revenue Agency (CRA). Starting today, businesses, their employees, or representatives can ask the CRA account-specific, tax-related questions through My Business Account and the CRA will answer them online and in writing, within a given time period.
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Canada Revenue Agencies
My Payment is an electronic payment service, accessed through the CRA Web site, that allows individuals and businesses to send payments directly to the CRA from their online banking account at a participating financial institution.
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Credits and benefits for seniors
The Canada Revenue Agency (CRA) is here to help you through tax season. Here are some helpful hints for seniors when filing your tax returns.
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BC's Government announces new credit for first time home buyers
Subject to approval by the legislature, the B.C. government intends to implement a temporary Bonus to First-Time New Home Buyers' in BC. Effective February 21, 2012 to March 31, 2013, the bonus is a non-time refundable personal income tax credit worth up to $10,000.00
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BC Seniors' Home Renovation Tax Credit
Effective for the 2012 and future tax years, the government intends to introduce a Seniors' Home Renovation Tax Credit. The credit will be a new refundable personal income tax credit to assist individuals aged 65 and over with the cost of permanent home renovations.
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Automobile Benefits Online Calculator
The Automobile Benefits Online Calculator allows you to calculate the estimated automobile benefit for withholding purposes based on the information you provide.
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New Payroll Deductions Tables (T4032) and Payroll Deductions Supplementary Tables (T4008) available on CD or online
As of January 2012, Publication T4032, Payroll Deductions Tables, will be available on CD for use on any computer with or without Internet access. You can order a copy at www.cra.gc.ca/orderforms or by calling 1-800-959-2221.
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Governments launch initiative to help students in trades succeed in business
This educational pilot project, being launched simultaneously today in New Brunswick, Ontario and British Columbia, was developed through a federal-provincial-territorial partnership to help students become informed tradespersons in the construction and renovation industry.
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GST/HST filers: you can now get your Web access code online
Did you know...? If you file your GST/HST return using NETFILE, or if you want to file a public service bodies rebate electronically with your GST/HST return, you can now get your Web access code online. You do not have to wait for it to arrive in the mail.
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In-Year Notification of Marital Status Changes
In order to provide Canadian families with correct benefit amounts, the Canada Revenue Agency requires up-to-date information on family circumstances
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Minister Shea announces new tax credit for parents
Gail Shea, Minister of National Revenue, today visited the Confederation Centre of the Arts in Charlottetown to promote the children's arts tax credit, a new non-refundable credit announced in the 2011 federal budget.
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Minister Shea highlights new tax credit for volunteer firefighters
Gail Shea, Minister of National Revenue, today visited the Kensington Fire Station on Gerald McCarville Drive to promote a new non-refundable tax credit for volunteer firefighters announced in the 2011 federal budget.
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The Canada Revenue Agency reminds Canadians to beware of phishing schemes
The Canada Revenue Agency (CRA) warns all Canadians to beware of telephone calls, mail, or email that claim to be from the CRA but are not. These are phishing scams that could result in identity thefts.
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Changes to the rules for deducting Canada Pension Plan (CPP) contributions
The pensionable earnings they pay an employee who is at least 60 years of age but under 70, even if the employee is receiving a CPP or QPP retirement pension.