Youth MLB Jerseys Red Bottom Shoes New Nike NFL Jerseys All 32 Teams Cheap NFL Jerseys China Cheap Jerseys Online Custom Team Hockey Jerseys Wholesale NFL Jerseys UGG Boots Cheap UGG Boots NFL Jerseys Cheap Big And Tall Personalized Baseball Jerseys Studded Michael Kors Crossbody Gucci Handbags Outlet Coach Outlet Dallas Cheap Oakley Sunglasses Chanel Handbags Louis Vuitton Outlet Online Wholesale Jerseys MLB Baseball Jerseys Coach Rings Outlet Chanel Outlet Gucci Outlet Stores Bene Benwikere Kids Jersey Michael Kors Outlet Come Riconoscere Una Borsa Falsa Gucci Cheap NFL Jerseys Sewn Numbers Oakley Sunglasses Kate Spade Purses Outlet Cheap Jerseys

Archive for the ‘Community Events’ Category

« Older Entries | Newer Entries »

WARNING – SPAM Emails claiming to be CRA

Tuesday, March 11th, 2014

WARNING – SPAM Emails claiming to be CRA

Spam emails claiming to be from CRA are once again making their rounds.  These are not a valid emails.  CRA does not contact taxpayers via email.  DO NOT open the link or provide any of the information requested.  Here is a sample of one of the email currently circulating:

Dear Tax Payer ,

Part of your Canadian tax expenses for the year 2013 as been processed and completed and you are entitled to a refund for 988.44 CAD.

You are required to follow the secured link below to login to our secure Epass site with your Social Insurance Number and complete the required details in order for your tax refund to be processed and deposited into your account.

To access the secure form for your Tax Refund, please click the below secured link to get started:

(Link Deleted)
Sincerely,

Canada Revenue Agency.

©Copyright Canada Revenue Agency. All rights reserved.

 

Posted in Community Events, Tax News Comments Off on WARNING – SPAM Emails claiming to be CRA

February 2014 Newsletter

Tuesday, February 25th, 2014

February 2014 Newsletter

The latest edition of our newsletter is now available on our website.  Click here to view

Posted in Community Events Comments Off on February 2014 Newsletter

Director Alert – Not-for-Profit Organizations

Thursday, February 13th, 2014

Many not-for-profit organizations (NPOs) are converting their IT systems, at least in part, from in-house computing to cloud
computing solutions. Boards of directors often do not realize that their organizations are employing cloud technology, or do not
understand the concept of cloud computing well enough to recognize the benefits or discharge their duty to oversee the risks involved.

Click here for more details.

Posted in Community Events Comments Off on Director Alert – Not-for-Profit Organizations

Free Employer Workshop – WSIB

Tuesday, October 22nd, 2013

13 CLAIMS MANAGEMENT TIPS FOR 2013

Focus is hosting an Employer Workshop on Thursday November 21, 2013 at the Nottawasaga Inn Resort.  Join Elizabeth Parkinson, Employer Specialist, from The Office of the Employer Adviser (OEA) who will be presenting 13 Claims Management Tips for 2013.  This presentation is popular with employers who have some experience in dealing with WSIB issues but want to expand their expertise in order to cut their Worker’s Compensation costs and get their workers back to work.

  • Fax completed registration form to 705-435-0931 or email to confirm your attendance to  lisag@focuscdc.on.ca
  • Registration deadline is November 18, 2013
For more information please click here

Posted in Accounting News, Community Events Comments Off on Free Employer Workshop – WSIB

2013 Federal Budget Summary

Monday, March 25th, 2013

On March 21, Finance Minister Jim Flaherty delivered his federal budget for 2013. Here is an overview of budget highlights that may affect you and your business.

PERSONAL TAX CHANGES

Adoption expense credit

The time period for which adoption expenses can be incurred will be extended for all adoptions finalized after 2012.

Enhanced ‘Super’ tax credit for first-time charitable donors

For those of you who have wanted to donate but have not in the past, an extra 25% tax credit has been announced.  This additional credit increases the donation tax credit on the first $200 donations to 40% and the tax credit on donations between $200 and $1,000 to 54%.  The tax credit will apply to cash donations made after March 21, 2103 and before 2018.  However, in order to qualify for the donation neither you nor your spouse or common law partner can have claimed a donation tax credit in any taxation year after 2007.  As a result, the number of people that will qualify for this tax credit will be limited.   

Lifetime Capital Gains Exemption

The lifetime capital gains exemption will increase $50,000 from $750,000 to $800,000.  In addition, the exemption will be indexed to inflation for future tax years.   This exemption is utilized specifically for the sale of qualified small business shares (QSBC) or qualified farm  or fishing property (QFP)

Deduction for Safety Deposit Boxes

For tax years beginning on or after March 21, 2013, safety deposit box rentals will no longer be a deductible expense for income tax purposes.

Taxation of dividends

The tax rate for non-eligible dividends (i.e. dividends from a small business) will be increased.  The gross up factor will be decreased from 25% to 18% and the dividend tax credit will also be decreased from 13.3% to 11%.  Effectively the federal rate on dividends will be increased from 19.58% to 21.22%.  This change will apply to dividends paid after 2013.  For those corporations that have switched to paying dividends we will be reviewing each situation individually to determine if the increase will have an impact on the remuneration planning for you and your company.

Taxes in Dispute and Charitable Donations Tax Shelters

In continuing efforts to eliminate charitable donation tax shelters, the budget purposes to allow CRA to collect 50% of the disputed tax, interest and penalties in situations where a taxpayer has objected to a reassessment that involves one of these tax shelters.

Labour-Sponsored Venture Capital Corporations Tax Credit

The tax credit will be phased out over a 5 year period.   This will likely impact very few investors, as the labour sponsored investments have been declining the last few years.

Restricted farm losses

As previously discussed in our newsletter, CRA lost a Supreme Court of Canada (SCC) case in 2012, R. v. Craig.  As a result of this loss, the door opened for farmers to claim unrestricted farm losses even if farming income was subordinate to other sources of income.  The budget once again closes that door by making updates to the Income Tax Act to restore the chief source of income test.  On the plus side, the annual restricted farm loss limit will be increased to $17,500 ($2,500 plus ½ of the next $30,000) from its existing $8,500 limit.

Other items and trust issues

Other items including synthetic dispositions, character conversion transactions, trust loss trading, attribution rules affecting non-resident trusts, and graduated rate of taxation of trusts and estates were addressed in the budget.  Due to the technical nature of these changes they have not been addressed in this update.  Please contact the office if you would like to disclose these items further.

BUSINESS TAX CHANGES

Accelerated Capital Cost Allowance

The budget proposes to extend some of the accelerated CCA rates for manufacturing equipment, clean energy generation equipment, and mining equipment.

Scientific Research and Experimental Development Program

More detailed information about the tax preparer preparing the claim and billing arrangements will have to be disclosed.  A new penalty of $1,000 will apply if this information is incomplete or inaccurate.

Leveraged Insured Annuities and 10/8 Arrangement

Some tax-motivated life insurance leveraging strategies may not be available into the future.  For more information on these changes please contact the office.

Corporate Loss Trading

New anti-avoidance rules will be put in place to support the existing loss restriction rules on the acquisition of control of a corporation.

INTERNATIONAL TAX CHANGES 

Foreign reporting

The budget has many measures aimed at reducing international tax evasion and avoidance.  Some of these measures include:

– requiring certain financial intermediaries to report electronic fund transfers of $10,000 or more to the Canada Revenue Agency;

– implementing a Stop International Tax Evasion Program which will provide awards of up to 15% of the federal tax collected to informants on evasion transactions exceeding $100,000;

–  revising form T1135 to require taxpayers to provide more detailed information about their foreign property and extending the reassessment period for Form T1135 by three years.

OTHER MEASURES

EI Hiring credit extended

The credit of up to $1,000 of the increase in Employment Insurance (EI) premiums over the prior year amount has been extended to 2013.  This credit is calculated when you submit your T4 slips.

Sports equipment and baby clothing

In recognition of the retail price gap between Canada and the U.S., tariffs on baby clothing, hockey equipment, golf clubs and skis will be eliminated

Posted in Community Events Comments Off on 2013 Federal Budget Summary

February 2013 newsletter

Friday, February 15th, 2013

Our most recent newsletter is now available.  Please click on the following link to view updates on probate fee rules in Ontario, TFSA limits increases, and other recent updates:

Hodge Podge February 2013

 

 

 

 

Posted in Community Events Comments Off on February 2013 newsletter

CRA Annual Letter Campaign

Wednesday, January 2nd, 2013

CRA Annual Letter Campaign

The Canada Revenue Agency (CRA) will soon be conducting its fourth annual letter campaign. In January 2013, the Small and Medium Enterprises Directorate of the Compliance Programs Branch will once again send educational and intent-to-audit letters to selected groups of Canadians through the Office Audit Letter Campaign. The campaign supports the CRA’s increased emphasis on helping individuals and small businesses to better understand their tax obligations and to encourage them to correct any inaccuracies in their past income tax and benefit returns.

The CRA will send approximately 33,000 letters to taxpayers who earn self-employment income, receive rental income, or are employees who have claimed employment expenses on line 229 of their income tax and benefit return.

The campaign is part of the CRA’s efforts to encourage voluntary compliance among groups of taxpayers who, our research indicates, may be at risk of non-compliance.

The CRA gives taxpayers a chance to come forward and correct their tax affairs through My Account, a T1 Adjustment Request or the Voluntary Disclosures Program, and taxpayers are taking advantage of these opportunities.

If you or your clients have questions about the CRA letter campaign or need help making changes to previouslyfiled returns, go to www.cra.gc.ca/lettercampaign, call the Individual Income Tax Enquiries line at 1-800-959-8281, or call the Business Enquiries line at 1-800-959-5525.

Posted in Community Events Comments Off on CRA Annual Letter Campaign

WE ARE MOVING!

Wednesday, September 5th, 2012

 

 

 

 

KD WRAY

PROFESSIONAL CORPORATION

ANNOUNCES

We are moving our office to our new location at

22 Paris Street, Alliston  effective September 30th.

During the later part of September we will be transitioning from the current office to the new location.

Our phone and fax numbers and email will remain the same so we can still be reached at any time.

Posted in Community Events, Staff Events Comments Off on WE ARE MOVING!

2011 Alliston Santa Claus Parade

Tuesday, December 13th, 2011

Happy Holidays!

Over 35 floats and participating groups walked the route and we couldn’t believe how many people turned out to enjoy the parade.  Our float won for most unique! 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Posted in Community Events Comments Off on 2011 Alliston Santa Claus Parade

November 30 – Seminar – Growth and Preservation of Family Wealth

Tuesday, November 1st, 2011

Seminar – Growth and Preservation of Family Wealth

Where – The Gibson Cultural Centre, 63 Tupper St W, Alliston

When – Wednesday November 30, 2011, 7-9:30 pm

Featuring award-winning keynote speaker Thomas Deans, PH.D.  Author of the Globe and Mail and New York Times best-selling book “Every Family’s Business” – 2009 Canadian Speaker of the year

There will also be short presentations from local advisors:

Kimberly Wray, C.A. – Tax Planning for Business Owners

Jamie Gilmore, Barrister and Solictor – Estate Planning for Business Owners

CI Funds’ Ron Bowes – Making Your Investments Creditor-proof

Stephanie Czachor – How to Have it all by using the Energized Entrepreneur Program

Please RSVP by contacting Stephanie Czachor at 905-729-0877 before November 23, 2011.  Click here for more information.

 

Posted in Community Events Comments Off on November 30 – Seminar – Growth and Preservation of Family Wealth

Next Page »« Previous Page
  • Sign Up For Our Mailing List!
    Subscribe now and receive all the latest accounting news and updates!
    100% Privacy. We don't spam.
  • Categories


Youth MLB Jerseys Red Bottom Shoes New Nike NFL Jerseys All 32 Teams Cheap NFL Jerseys China Cheap Jerseys Online Custom Team Hockey Jerseys Wholesale NFL Jerseys UGG Boots Cheap UGG Boots NFL Jerseys Cheap Big And Tall Personalized Baseball Jerseys Studded Michael Kors Crossbody Gucci Handbags Outlet Coach Outlet Dallas Cheap Oakley Sunglasses Chanel Handbags Louis Vuitton Outlet Online Wholesale Jerseys MLB Baseball Jerseys Coach Rings Outlet Chanel Outlet Gucci Outlet Stores Bene Benwikere Kids Jersey Michael Kors Outlet Come Riconoscere Una Borsa Falsa Gucci Cheap NFL Jerseys Sewn Numbers Oakley Sunglasses Kate Spade Purses Outlet Cheap Jerseys