December 2011 eNewsletter

US TAX TREATY ISSUES

There has been a great deal of confusion over the Canada-US Tax Treaty as it regards cross-border business and working arrangements. The revised rules exempt income earned by a Canadian in the US if they did not earn more than $10,000 in the

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Taxing Times November 2011

ESTATE ADMINISTRATION TAX (EAT)

EAT, more commonly referred to as probate fees, have been revised for Ontario. While a new regime will take effect January 1, 2013 to date the Ontario Government has not published any regulations or details to assist estate practitioners and administrators with preparations for

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Budget 2011 Part 2 eNewsletter

FEDERAL BUDGET 2011

On June 6, Finance Minister James Flaherty tabled the 2011 Federal Budget. This budget is essentially the same as the one from March 22 with a few tweaks.

PERSONAL TAX MEASURES

CHILDREN’S ARTS TAX CREDIT

Effective for the 2011 tax

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Budget 2011 eNewsletter

FEDERAL BUDGET 2011

On March 22, Finance Minister James Flaherty tabled the 2011 Federal Budget. On March 25 the government was brought down as the result of a non-confidence motion. This action has resulted in the budget papers dying and will require the introduction of a new budget once the

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Taxing Times July 2011

PRESCRIBED INTEREST RATES

CRA has announced the prescribed rates for the first quarter, April 1 to June 30, 2011. The following rates apply:

• Interest charged on overdue taxes – 5% • Interest paid on overpaid corporate tax – 1% • Interest paid on overpaid personal tax – 3% •

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Taxing Times March 2011

TAX CHECKLIST

Please note that our fillable Personal Tax Checklist is now available at www.pgcllp.ca or www.pgcllp.com.

2011 CORPORATE TAX RATES

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Taxing Times February 2011

AUTOMOBILE DEDUCTION LIMITS FOR 2011

Once more the Ministry of Finance has failed to recognize the increased costs of owning and operating a vehicle as they announce the new numbers (that are the same as the old numbers from 2010) which are as follows:

The maximum

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Taxing Times January 2011

HAPPY NEW YEAR

From everyone at Parker Garber & Chesney LLP to all of our clients and friends, we wish you the best of the new year.

PRESCRIBED INTEREST RATES

CRA has announced the prescribed rates for the first quarter, January 1 to

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