Welcome to my monthly newsletter.
Heart and Stroke Big Bike Ride
I am riding in the Heart and Stroke Big Bike Ride in Richmond Hill on June 18th with the Connecting the Community Group. You can cheer us on.
Please follow link below if you would like to donate and help create survivors.
Next Tax Filing Date
June 15th, personal tax returns due for those that are self-employed but any taxes payable were already due by April 30th. Same is true for your annual HST filing.
2015 Tax Installments, avoid penalty and interest
Personal tax installments, if required, are due quarterly and second installment is due on June 15th. Check with your accountant or CRA if you must pay.
Corporate Tax Returns
Corporate tax returns for those with a December year end are due June 30th. Any taxes payable should have been paid by March 31st for most small businesses.
New Payroll Tables
New payroll tables must be used effective July 1st. Ensure you download the payroll updates from QuickBooks or Simply. They are also available on CRA web site.
Minimum Wage
Current general minimum wage rate is $11.00. It will increase to $11.25 effective October 1, 2015.
Record Keeping
One of the most important things in business is also one of the most neglected.
Setting up a proper set of books is key to keeping track of revenue and expenses, banking, government remittances for payroll and HST, and corporate tax filing.
Tax Free Savings Account, Penalty Letters
If you over contributed to your TFSA in 2014 you will get a letter shortly from CRA to pay the penalty by June 30th. Over contributions should be removed ASAP.
Check with your banker for the status of your TFSA account.
Richmond Hill Chamber of Commerce – Annual Golf Tournament
Golf the Summit! Monday September 21st. Visit chamber web site for details.
A chance to golf at one of the oldest and most established golf courses in the GTA and some good sponsorship opportunities available.
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.