{"id":555,"date":"2015-10-06T12:01:21","date_gmt":"2015-10-06T12:01:21","guid":{"rendered":"http:\/\/www.larosacga.ca\/?p=555"},"modified":"2015-10-06T12:01:46","modified_gmt":"2015-10-06T12:01:46","slug":"october-newsletter","status":"publish","type":"post","link":"https:\/\/www.larosacpa.ca\/?p=555","title":{"rendered":"October Newsletter"},"content":{"rendered":"

Monthly Newsletter \u2013 October 2015 Issue<\/strong><\/p>\n

Charity Lotteries
\n<\/strong>It is charity lottery season. This is a great way for charities to raise money. Please\u00a0continue to support your favourite charities but keep in mind that it is a lottery and\u00a0not a donation. Tax receipts are not issued for this and they are not deductible.<\/p>\n

HST Installments
\n<\/strong>If you are an annual HST filer, you may have to pay quarterly installments and the\u00a03rd installment is due October 31st.<\/p>\n

Payroll Remittance
\n<\/strong>Payroll remittances are due on the 15th of each month for most small businesses. File\u00a0and pay on time to avoid penalty and interest charges. Ensure you are up to date on\u00a0all your remittances.<\/p>\n

Tax Receipts
\n<\/strong>CRA processing reviews seem to be increasing. Ensure you have all your past tax\u00a0receipts organized and handy if needed. Also start organizing your 2015 receipts. A\u00a0receipt scanner is a great way to track and organize your receipts and avoid loss.<\/p>\n

CRA Emails<\/strong>
\nCRA continues to warn us about email scams. CRA does Not communicate by\u00a0email. DELETE these right away. They are a scam.<\/p>\n

CPP
\n<\/strong>If turning 60 soon, you may want to look at pros and cons of applying for CPP\u00a0early. Some like to get an early start and get up to 5 extra years of payments. Main\u00a0disadvantage of starting early is you get less. Your monthly payment will be about\u00a01\/3 less if you start at age 60.<\/p>\n

CRA authorization forms
\n<\/strong>You need an authorization form signed by your parents and filed with CRA in order\u00a0to discuss any tax matters on their behalf. However if they die, you must submit a\u00a0new authorization form to CRA along with a copy of the will that states that you are\u00a0the executor of the estate.<\/p>\n

Death and Wills
\n<\/strong>This is not a pleasant discussion but an important one. Make sure you have an up to\u00a0date will. Ensure you can access bank and investment accounts in case of a death of\u00a0a loved one. Be prepared.<\/p>\n

Death and Taxes
\n<\/strong>Death does not mean the end of taxes. There is at least one final tax return with a\u00a0possible large tax bill for things such as RRSP income, deemed or actual disposition\u00a0of investments and investment properties.<\/p>\n

I hope you find this general information helpful. Please consult with your\u00a0accountant or myself if you have any questions.\u00a0This material is provided for general information and is subject to change without notice. Please consult\u00a0with your professional advisor before you act on any of the above information to ensure it\u2019s right for you.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Monthly Newsletter \u2013 October 2015 Issue Charity Lotteries It is charity lottery season. This is a great way for charities to raise money. Please\u00a0continue to support your favourite charities but keep in mind that it is a lottery and\u00a0not a donation. Tax receipts are not issued for this and they are not deductible. HST Installments […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-555","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.larosacpa.ca\/index.php?rest_route=\/wp\/v2\/posts\/555","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.larosacpa.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.larosacpa.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.larosacpa.ca\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.larosacpa.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=555"}],"version-history":[{"count":2,"href":"https:\/\/www.larosacpa.ca\/index.php?rest_route=\/wp\/v2\/posts\/555\/revisions"}],"predecessor-version":[{"id":557,"href":"https:\/\/www.larosacpa.ca\/index.php?rest_route=\/wp\/v2\/posts\/555\/revisions\/557"}],"wp:attachment":[{"href":"https:\/\/www.larosacpa.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=555"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.larosacpa.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=555"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.larosacpa.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=555"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}