Self Directed RRSP Scams

CRA is putting out a caution to those people that are enticed into investing their RRSP funds into something the scammers indicate there is no tax implications.  There is a bit more to read, from information put out by CRA, so if you have been approached, be aware, that something that sounds to good to be true, is just that !

Jack

 

Here is the link back to CRA information: Self Directed RRSP Scam

Ontario and pollution pricing

In Ontario, as in other provinces, when a taxpayer files a tax return, there is a credit for tax being calculated and referred to as a “climate action incentive” that puts money in one pocket.

I don’t mean to be sarcastic, but it may be prudent to keep your hand on your wallet.  When one provokes the bear, someone may get bitten, unless I’m off the mark here.

At the pump, a person  travelling like a salesman,  will  possibly end up paying for the “credit” a few times over.

At least we are aware of concerns, and will have to go along with the suggestions until another change is required.

Do you want to read a little on the subject?

Well, here you go then… How it will work

 

Jack

Dissolution of a Company

Sometimes things just don’t work out as planned, and sometimes, a company lives a natural life, and requires a hand in having it taken off the records.

This process is called Dissolving a Company and there is a process to do that, otherwise you will constantly be informed to file one thing or another with the government.

The articles of dissolution can be obtained on the internet with the following link:

Articles of Dissolution

 

You might want to read a little about it here:

Ontario Dissolution of a Company

Once the permission letter is received, and you have two signed copies of the Articles of Dissolution, and have them “stamped”, and the necessary fee paid, there is a final step.

That is, a final tax return must be filed from the date of the last filed return, and the date of dissolution.

Good Luck!!

 

All Deductions, Credits and Expenses

This is the CRA website which lets you put in the line number from  your personal tax return that you would like to research.

For example, line 305 is for other deductions for an eligible dependant.  Do you qualify for it, based on the best information you have, and the little information CRA gives to you, before they come up with a reason to disallow it?

 

Jack

 

All Deductions link – press it

Where did the old taxprep4u site go?

I’m so glad you noticed.

It looks like most of the time we spent adding links to the web site, and you actually used those links from time to time.

We were using a third party program to write the different items that were contained within the web site, and it was generally useful to those folks that really are into web design, backups and the technical part of design.

We are not that type, but have tried our best to adapt.

Now, it seems easier to use a different tool, and simply blog from time to time unless you drop us a line that you need some accounting support.  That we can sure give to you.

Ask, seek, knock.  You know how it goes, right?

 

Jack img_0834

Your move Mate..

I love the way this little guy looks so pensive.  Maybe it should be awarded the championship for those under thirteen, unless there is an objection. .

PP