Third Party Disclosure of Income - CRA reassessed a taxpayer to includeincome based on the results of the audit of a company which listed the taxpayer as a Subcontractor.
Rental Property: Receipt Retention - A taxpayer had disposed of a rental propertyand CRA reduced the Adjusted Cost Baseclaimed by the taxpayer.
U.S. Snowbird: New U.S. Visa!- Proposing to allow Canadians aged 55 and older to spend 240 days in the countrywithout a Visa is on track to become law.
Dropbox.com - Dropbox.com is a popular serivce which enables users to synchronize, shareand back-up filesvia computer, tablet or iphone.
Please note that the Tax Tips & Traps link will open in Acrobat.com and may take a few seconds to load. To view previous Tax Tips & Traps issues, visit the Newsletter section of our website.
Nicole and Joanna earn their C.A. designation
Congratulations to Nicole and Joanna for passing the UFE exam. They have officially earned thier C.A. designation!! All their hard work has finally paid off. Everyone at Moriyama/Burton could not be more proud of them.
Americans living in Canada face looming IRS tax deadline
The deadline for Americans living in Canada to file a tax return with the U.S. Internal Revenue Service is less than a week away, but not everyone is scrambling to get their paperwork in order.
"I'm not filing U.S. taxes," says a Calgary resident we'll call "Joe". As an accidental American, I'm outraged that a foreign government is going after me for the fact that my Canadian parents had me in the U.S. and only stayed there for a few short months."
ROMA LUCIW The Globe and Mail Published: Tuesday, Jun. 11 2013, 10:00 PM EDT
CRA takes steps to clamp down on charitable donation schemes
The Canada Revenue Agency (CRA) has announced that, starting with the 2012 tax year, it will be putting in place additional measures to deal with gifting tax shelter schemes.
Tax shelter schemes typically promise the taxpayer a charitable donation tax deduction or credit many times the value of the actual donation or gift made. If a tax shelter promoter offers a tax receipt for a larger amount than the donation or payment, it is very likely not a valid donation.
65 to 70 years of age, if the employee revoked his or her election to stop paying CPP contributions in 2013 or later.
Under the old rules, you stopped deducting CPP once an employee was 60 to 70 years of age and the employee gave you proof that he or she was receiving a CPP pension.
Note: Canada Revenue can assess you for failing to deduct CPP contributions or for failing to remit the CPP contributions to CRA as required. The assessment may also include penalty and interest charges. For more information, go to Penalties, interest, and other consequences.
5th of 5th Youth Services held their first annual fundraising ball on September 28, 2012. The event raised funds to provide vital services for the 8,000 local youth who use the employment centre each year.
The event was great fun - awesome food and music! Looking forward to next year!
Sunshine, golf and good company - a great way to spend a Friday afternoon!
A Moriyama/Burton foursome participated in the 3rd Annual High Performance Hockey Golf Scramble at the Land-O-Lakes Golf and Country Club on August 5th. The event raised funds for the University of Lethbridge Men's Pronghorns Hockey team, sponsoring kids for minor hockey and supporting local Olympian Jim Steacy in his 2012 Summer Olympics.
The Moriyama/Burton team hit a surprising 3 under par!
2011 Dragon Boat Festival
The Moriyama/Burton Screamin' Sea Men competed in the ATB Financial Lethbridge Rotary Dragon Boat Festival over the June 24th-26th weekend. Our amazing team of “lob stars” paddled hard to set our personal best time of 2 minutes and 19 seconds (6 seconds faster than last year!). We won bronze in the Mixed B Division! Great job team!!
This was our team's fourth season at the Dragon Boat Festival and the event gets better every year. A huge thank you to all the organizers and volunteers who devoted countless hours to put on the best show yet. Congratulations to all the teams that participated so enthusiastically.
The Dragon Boat Festival is one of Lethbridge's premiere events of the summer. If you missed it this year, make plans put a Dragon Boat team together or just come out to the event next year on the July 6th-8th weekend!! Visit our page to view the 2011 Dragon Boat Festival photo album for more pictures.