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| At a recent meeting, the audit partner from Sloan Partners LLP advised us that our accounting system did not provide enough internal control. The team at Infonumerix Inc. immediately went to work and installed a better system for us and trained our staff. The new system provides better controls and reports for us. We are thrilled with the results! |
Brigitte B.
Executive Director, Prominent Charitable Organization
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| Wednesday, September 08, 2010 |
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TAX MATTERS
Clients have recently asked us about the personal tax rates for 2009 and prior years and how long to keep business accounting records. Here are the links to answers:
- 2009/2008 rates
- 2008/2007 rates
- 2007 rates
- 2006 rates
- 2005 rates
- retention policy
For current and historical prescribed interest rates,
click on the Sloan Partners LLP link above.
UNIVERSAL CHILD CARE BENEFIT (UCCB)
Many clients have asked about their eligibility for the UCCB. The UCCB is designed to help Canadian families, as they try to balance work and family life, by supporting their child care choices through direct financial support. The UCCB is for children under the age of 6 years and is paid in instalments of $100 per month per child.
CRA has provided an on-line application form Click here to apply.
If you have questions, please contact one of our Tax Team members by email Tax Team
CALLING ALL ACCOUNTANTS
At the Sloan Group, we understand the challenges faced in running a small accounting practice. To this end, we have created a solution for your practice that makes it easy for you to take the next logical step.
It can be an innovative step toward an expansion of services for your business. It can be a solid step toward a retirement strategy or a succession program. Or a positive step toward streamlining and giving you more time to enjoy leisure or other business pursuits.
Click here to find out about the STEPS PROGRAM.
TAX RATES ON DIVIDEND INCOME
Many of you have requested an explanation of the tax rates on dividends. Please check out this table (PDF - 30 kb). If you wish to speak to us in more detail, please call us at 416.665.7735
PRESCRIBED INTEREST RATES
For a useful table of prescribed rates published by Canada Revenue Agency click here.
TAX FREE SAVINGS ACCOUNTS(TFSA)
Everything you wanted to know about TFSA's but were afraid to ask! click here.
NEW AUTOMOBILE DEDUCTION LIMITS & EXPENSE RATES
On December 27, 2006 the Department of Finance released the new rates for 2007. The information is available by clicking this link. If you have any questions, please speak with one of our professional tax advisors.
EMPLOYEE TERMINATIONS
We've been asked to provide some guidance regarding employee terminations, lay-offs and severance pay. To assist our clients, we have provided this link to the required information. If further help is required, please contact your advisor at Sloan Partners LLP.
SUCCESS IN TAX COURT
Allen Sloan and Jerry Paskowitz appeared in the Tax Court of Canada on behalf of a client who had been denied certain expenses involved in building her professional chiropractic offices.
The contractor had demanded cash payments and thus she did not have receipts for the costs. Canada Revenue Agency denied the expenses, however, Allen and Jerry were able to show the court that the offices did exist and expert testimony from an independent contractor established the fair value of the work. The judge found the presentation of evidence compelling and ruled in favour of our client.
We were very pleased - and of course our client was as well.
If you have assessments which you believe are unfair, please email Allen or call 416-649-7700 to arrange a confidential meeting.
WEATHER INFO
For all you weather junkies, here's a link to the current climate.
MORTGAGE RATE TABLE
Current Mortgage Rates
LINKS TO USEFUL SITES NOW ON-LINE
Click the new RESOURCES button to get there. If there are links you would like added, please send an email to newlinks.
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| About Sloan Partners LLP | | Sloan Partners LLP Services | | Contact Sloan Partners LLP |
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