This issue of Tax Target will serve as a reminder of certain, often forgotten, details regarding the preparation of T4 and Relevé 1 forms. Automobile Benefits Automobile benefits are the total of the stand-by charge and the operating benefit. 1. Stand-by Charge (a) Stand-by charge on automobile owned by Company = A/B x [2% x (C x D)] A/B [...]
Tax Information for 2012
Chantale Couture | 09/01/12 | News & EventsHere are the deductions at source rates for 2012 and 2011 for Employment Insurance, Quebec Parental Insurance Plan, Quebec Pension Plan, Quebec Health Services Fund and Commission des normes du travail. These rates will help the user plan more efficiently for the current taxation year and help to prepare T4 and Relevé 1 slips for [...]
Year-End Tax Planning Checklist for Corporations
Harry Vouitsis | 15/12/11 | News & EventsIn these uncertain economic times we live in, the owner-manager will have to maintain his focus on many things throughout the day and, often times, planning to minimize their corporation’s taxes may fall to the wayside. The following tax tips can assist the owner-manager in this regard. Your Fuller Landau advisor can assist you in [...]
Year-End Tax Planning Checklist for Individuals
Angela Sciola | 15/12/11 | News & EventsFor some, when the weather turns cold and the holiday descends upon them, it signifies that it is time to turn their attention to structuring their affairs to minimize taxes. Ideally, tax planning should be done throughout the year as part of one’s overall financial plan. However, if you have not monitored your tax situation [...]
2012 Limits and Rates Related to Automobile Expenses and Federal Personal Tax Credits
Chantale Couture | 02/02/12 | News & EventsAutomobile Expenses The rates for automobile expenses, deduction limits and the prescribed rates for determining taxable benefits on automobile operating expenses are as follows for 2012. Personal Income Tax Parameters In 2012, individuals will benefit from a small Federal tax reduction due to indexation of the tax bracket thresholds and non-refundable tax credit amounts. The following table [...]