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Peter Kupovics, CPA, CMA, MBA

    • Home
    • Why Us?
      • Back
      • Our Value
      • Our Approach
      • Our Guarantees & Offers
      • Our Philosophy
      • Our Strengths
    • About Us
      • Back
      • About Us
      • How Are We Different?
      • Our Core Values
      • Business Health Check
    • Services
      • Back
      • All Services
      • Accounting, HST, and WSIB
      • Taxes, Tax Planning, and Tax Advice
      • Financial Statements and Business Advice
      • Reality Check
      • Payroll
      • Accounting Software
    • FAQs
    • Blog
    • About Our Clients
      • Back
      • Our Ideal Client
      • Client Spotlight
    • Contact Us
  • Loans for Your Children

    By Liz O'Dowd on November 17, 2015 Comment BubbleLeave a comment

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    Loans to Adult Children Parents quite often make loans to their adult children to help them purchase a car, a home, or for other reasons. A loan is different from a gift. The parent can charge interest so that the… {Read more}

  • International Tax Evasion

    By Liz O'Dowd on November 17, 2015 Comment BubbleLeave a comment

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    Stop International Tax Evasion Program To combat unreported foreign income, the Federal Government introduced the concept that Canada Revenue Agency (CRA) will pay financial rewards to individuals who provide information on major international tax evasion. CRA could pay up to… {Read more}

  • Lifetime Capital Gains Increase 2015

    By Liz O'Dowd on November 17, 2015 Comment BubbleLeave a comment

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    Lifetime Capital Gains Exemption (LCGE) On January 1st, 2015, the LCGE increased to $813,600 of capital gains realized by an individual on qualified property. The LCGE has been indexed to inflation for the years following 2014. The new limits apply… {Read more}

  • Estate Plans and RRSP’s

    By Liz O'Dowd on November 17, 2015 Comment BubbleLeave a comment

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    Estate Plans Estate planners often suggest that the RRSP/RRIF holder designate a beneficiary of the plan. There are many advantages of estate plans: Probate fees can be avoided because the funds transfer direct to the beneficiary. The funds are not… {Read more}

  • Company Events & Door Prizes

    By Liz O'Dowd on November 17, 2015 Comment BubbleLeave a comment

    In a Technical Interpretation, CRA was questioned about door prizes received by all attendees at a company social function. Door Prizes at Company Functions CRA commented that their tax-free $500 gifts and awards policy would apply to all attendees including… {Read more}

  • 2016 Maximum pensionable earnings

    By Liz O'Dowd on November 17, 2015 Comment BubbleLeave a comment

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    Canada Revenue Agency announces Maximum pensionable earnings for 2016 The Canada Revenue Agency announced today that the Maximum pensionable earnings under the Canada Pension Plan (CPP) for 2016 will be $54,900—up from $53,600 in 2015. The new ceiling was calculated… {Read more}

  • Free Tax Preparation Clinics

    By Liz O'Dowd on November 13, 2015 Comment BubbleLeave a comment

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    Tax preparation clinics benefit your community: Learn how you can participate Every year, the Canada Revenue Agency (CRA) supports community organizations across the country as they run free tax preparation clinics. It happens in communities just like yours, through a… {Read more}

  • What Businesses Need to Know – Employment Standards Act – Vacation Time and Pay

    By Liz O'Dowd on November 10, 2015 Comment BubbleLeave a comment

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    Vacation Time and Vacation Pay This employment standard has two parts: vacation time and vacation pay. Some employees have jobs that are exempt from the vacation with pay provisions of the ESA. For more information on these job categories, please… {Read more}

  • What Businesses Need to Know – Employment Standards Act – Termination Notice and Pay

    By Liz O'Dowd on November 10, 2015 Comment BubbleLeave a comment

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    Termination Notice and Pay A number of expressions are commonly used to describe situations when employment is terminated. These include “let go,” “discharged,” “dismissed,” “fired” and “permanently laid off.” Under the Employment Standards Act, 2000 (ESA) a person’s employment is terminated… {Read more}

  • What Businesses Need to Know – Employment Standards Act – Public Holidays

    By Liz O'Dowd on November 10, 2015 Comment BubbleLeave a comment

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     Ontario has nine public holidays: New Year’s Day Family Day Good Friday Victoria Day Canada Day Labour Day Thanksgiving Day Christmas Day Boxing Day (December 26) Most employees who qualify are entitled to take these days off work and be… {Read more}

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