Improving Financial Literacy in the Community

sloan-blog

Through Chartered Professional Accountants Canada/Canadian Institute of Chartered Accountants Community Connect Program, I am now able to provide group sessions to enhance Financial Fluency in our community. Community Connect is volunteer effort that I have joined that will assist individuals ...

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Dealing With CRA

There may have been a time when CRA auditors priority was enforcing tax law, that time seems to have passed. CRA systematically seems more focused on extorting funds from taxpayers. In one recent case, the taxpayer went to court on whether or not his truck was an “automobile” for the purposes ...

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Increase your investment returns by using Options.

Has your broker discussed the income earning potential of utilizing Call options? In a nutshell, a Call Option is the opportunity to purchase a stock at a certain price on a set date. Here is an example to consider which could lead to a discussion with your broker. You own 1,000 shares of ...

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Tax Facts You Need to Know Now

   Corporation Income Tax Rates for 2013 Federal Ontario Combined  Businesses:    On First $500,000 General Manufacturing Investment – if CCPC(a) Part IV Capital Gains not relevant   11.00 15.00 15.00 34.67 33.33 Not relevant 4.50 11.50 10.00 11.50 – 15.50 26.50 25.00 46.17 ...

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Everyone Dies – Things to consider

  Will Reviews – tax law has likely changed since you wrote your will eg: Capital Gains Deduction is now $ 800,000, not the $ 500,000 anticipated in older wills Budget proposal to tax testamentary estates at top rate after 36 months     If you have significant ownership of a ...

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HERE WE GROW AGAIN!

Sloan Partners has acquired approximately 3,000 square feet of the Police Student Foundation next door. Construction has begun, as we speak, and a door will be inserted in our Reception wall almost directly across from the current office entry door. Left side and right side “buzzers” for our ...

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CRA REVISES FOREIGN INCOME VERIFICATION STATEMENT T1135

The following has been extracted directly from the CRA website, www.cra.gc Starting with the 2013 taxation year, Canadian taxpayers who hold specified foreign property with a cost amount of over $100,000 in total, at any time in the taxation year, are required to provide additional information ...

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WHAT ONTARIO PHYSICIANS DON’T KNOW ABOUT HST

If you are a physician in Ontario, you know that Harmonized Sales Tax (HST) significantly impacts your bottom line. For HST purposes, medical services are considered exempt.  That means you do not charge HST for treatment services, and you are not able to recover the HST on the goods and ...

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