{"id":559,"date":"2015-11-10T13:17:50","date_gmt":"2015-11-10T13:17:50","guid":{"rendered":"http:\/\/www.larosacga.ca\/?p=559"},"modified":"2015-11-10T13:17:58","modified_gmt":"2015-11-10T13:17:58","slug":"november-newsletter","status":"publish","type":"post","link":"https:\/\/www.larosacpa.ca\/?p=559","title":{"rendered":"November Newsletter"},"content":{"rendered":"

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

HST Electronic Filing changes<\/strong><\/p>\n

New unique access codes and filing packages were mailed out to HST registrants in\u00a0October. Ensure you review this package and note the changes. You may want to\u00a0download the CRA business tax reminders mobile app to help keep track of your\u00a0due dates. Go to www.cra.gc.ca\/mobileapps for more.<\/p>\n

CRA Phone Scams
\n<\/strong>CRA continues to warn us about email scams and now phone scams. They call\u00a0saying your return was reviewed and you owe money. If they ask you to send\u00a0money right away by any means you should hang up. They may also threaten you or\u00a0give you a phony number to call if you ask questions. Hang up and call CRA to\u00a0advise them and ensure that your account is fine. 1-800-959-8281.<\/p>\n

Wills and Power of Attorney
\n<\/strong>It is very important to have an updated Will in place along with a power of attorney\u00a0for both property and for personal care. It is also important to choose the right\u00a0executor and to grant power of attorney to the right person. Talk to your lawyer\u00a0about this and to your financial planner and accountant about estate planning.<\/p>\n

Tax Planning
\n<\/strong>It is time to start thinking about year-end tax planning. Items to consider before year\u00a0end include, making donations, selling stocks, contributing to RESP and TFSA,\u00a0buying a vehicle, equipment or other capital assets. More details next month.<\/p>\n

Books for Self-employed<\/strong>
\nIf self-employed but have not kept a proper set of books for 2015 you should start\u00a0now and avoid the stress and rush during tax season.<\/p>\n

Little or No Income
\n<\/strong>If you had little or no income in 2015, you may want to consider withdrawing some\u00a0funds from your RRSP before the end of the year and have it taxed in 2015 at the\u00a0lowest tax rates. Discuss pros and cons with your advisor before doing this.<\/p>\n

RESP\u2019s and CESG
\n<\/strong>Contribute $2,000 to your child\u2019s Registered Education Savings Plan and the federal\u00a0gov\u2019t will contribute $500 to the plan through the Canada Education Savings Grant.\u00a0Repeat annually to get maximum benefit of $7,200 per child from the government.<\/p>\n

Disability tax credit
\n<\/strong>If you have parents or children with a disability, have your doctor complete the\u00a0disability tax credit form T2201 and send it to CRA to see if they qualify for the\u00a0credit. Credit can be claimed by the taxpayer or transferred to you in some cases.<\/p>\n

I hope you find this general information helpful. Please consult with your\u00a0accountant or myself if you have any questions.<\/p>\n

This 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 yo<\/p>\n","protected":false},"excerpt":{"rendered":"

Monthly Newsletter \u2013 November 2015 Issue HST Electronic Filing changes New unique access codes and filing packages were mailed out to HST registrants in\u00a0October. Ensure you review this package and note the changes. You may want to\u00a0download the CRA business tax reminders mobile app to help keep track of your\u00a0due dates. Go to www.cra.gc.ca\/mobileapps for […]<\/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-559","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.larosacpa.ca\/index.php?rest_route=\/wp\/v2\/posts\/559","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=559"}],"version-history":[{"count":2,"href":"https:\/\/www.larosacpa.ca\/index.php?rest_route=\/wp\/v2\/posts\/559\/revisions"}],"predecessor-version":[{"id":561,"href":"https:\/\/www.larosacpa.ca\/index.php?rest_route=\/wp\/v2\/posts\/559\/revisions\/561"}],"wp:attachment":[{"href":"https:\/\/www.larosacpa.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=559"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.larosacpa.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=559"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.larosacpa.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=559"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}