News

Click here to view our complete 2009 Tax Newsletter - Issue 4.

Inside this issue:

• Paying a Spouse for Administrative Services may not be Pensionable Employment for CPP Purposes
  Under the Canada Pension Plan (CPP), contributions from both the employer and employee are required where there is "pensionable employment." Savings on CPP (the employer’s portion) may be possible, if there is no pensionable employment. A recent Tax Court of Canada case (A. Wyseman v. The Queen) is helpful, as it reviewed services provided by one spouse to her spouse’s business, and found that this was not pensionable employment...[more]
  
  
• More on Claiming Moving Expenses
  As the end of 2009 approaches, Canadian taxpayers should begin to think about their deductible expenses for the year. Where a taxpayer satisfies the requirements of an "eligible relocation", he or she will be entitled to claim the related moving expenses. In light of current economic conditions, many Canadians are undergoing work and employment changes. For some individuals, these changes will mean relocating to take up new work and employment that may also involve changing from part-time to full-time work and employment...[more]
  
  
• Snowbird of Business Travel to the US - Making Sure Your Are Canadian
  Thousands of Canadian taxpayers are making regular trips to the United States (US) for both business and personal reasons. Even though an individual remains a resident of Canada, files and pays Canadian income tax, it is likely that many regular travelers to the south have some US tax reporting requirements. Assuming you are not a citizen of the US (since US citizens must file US returns, regardless of their residence), the US income tax and reporting requirements depend on whether or not you are a resident of the US...[more]
  
  
• Quick Tax Facts
  - CRA Prescribed Interest Rates for Fourth Quarter of 2009...[more]
  - CRA "Kiddie Tax" Audits...[more]
  - CRA Self-Serve Stamping Machines...[more]
  - Individuals and Business Can Now Pay Taxes Online Using "My Payment" Services...[more]

Special points of interest:

• Maximum RRSP limits:
  2009 - $21,000
  2010 - $22,000
  
  
• The Harmonized Sales Tax (HST) comes into effect in
  Ontario and British Columbia on July 1, 2010.
  
  
• Personal tax instalments:
  - December 15, 2009
  - March 15, 2010
  - June 15, 2010
  - September 15, 2010

Click here to view our complete 2009 Tax Newsletter - Issue 4.