September Newsletter

On July 2, 2014 Ontario Accountants united as one association under the new name, Chartered Professional Accountants, CPA’s. Certified General Accountants joined Chartered Accountants and Certified Management Accountants who had united last year. Other provinces have or are in the process of unification as well. This means a stronger united accounting body to represent Canada in global business. In Ontario it means one united association and less confusion for the public. During transition, all members will be known as CPA, followed by their previous designation.


Unifying CAs, CGAs and CMAs under the CPA designation.

We can assist with start-up, advice, finance, software installation and training, tax planning, estate planning as well as bookkeeping, accounting and taxation work.

Personal Tax Installments
The 3rd of 4 tax installments for 2014 is due on September 15th.  if applicable.  The 4th is due on December 15th. Write you SIN and “2014 tax installment” on cheque.

Books and Records
As we move into September, many self-employed people do not have proper books and records started for 2014. Summer is behind us and now is a good time to catch up and be ready for tax season. Talk to an accountant to get started.

Ask your bookkeeper for monthly reports and review for reasonableness. Many cases of clients thinking books are proper and up to date only to find out at year end, that books are not complete or a mess. Take extra care if dealing with a new person.

Car Mileage Log
Some business people still do not know this or continue to avoid it. CRA requires you to keep a car mileage log to claim car expenses. Keep track of distance traveled, destination, business reason, etc. to support business mileage. Check your diary and other documentation you may have, plus google maps, to catch up on your 2014 log.

Richmond Hill Chamber of Commerce – Annual Mayor’s Lunch
Friday September 12th. Visit chamber web site for details

Municipal Elections
Municipal elections are on October 27th.  Be informed and vote to be heard. The Richmond Hill Chamber of Commerce is organizing Election Fest Events to help you meet the candidates and ask questions. Visit the chamber web site for details.

I hope you find this general information helpful. Please consult with your accountant or myself if you have any questions.

This material is provided for general information and is subject to change without notice. Please consult with your professional advisor before you act on any of the above information to ensure it’s right for you.