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Canwest Accounting
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REVENUE CANADA MAY BE CALLING IF YOU MISS AN INSTALLMENT PAYMENT

#Revenue Canada has posted the following notice: Individuals who may be required to pay their #income tax by quarterly instalments and have missed a payment or been charged instalment interest in the past may receive a call from the Canada Revenue Agency.

This call is to remind them of the June 15, 2018, and December 17, 2018, #instalment payment due date.

For more information, see Automated telephone message [https://pjj52.app.goo.gl/3EP3SAt3wM8mQDSF8] use My Account [https://pjj52.app.goo.gl/DHvikucSELbrw7q1A] to see instalment reminders online. At Canwest Accounting, our bookkeepers and accountants can help with cash flow management, so you pay these #tax instalments on time.
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Book your FREE consultation with Canwest Accounting

Find out how partnering with us will help you work on -  not in -  your business.  

Canwest Accounting’s bookkeeping services at our Victoria or Langford locations will help save you time and hassles; will help you meet CRA requirements, let you make decision-making easier and track patterns to maximize your profitability.  And, to potentially free you up for a hard-earned vacation!
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Choosing Between Sole Proprietorship & Corporate Status

With the deadline for filing personal income tax returns with Canada Revenue Agency (CRA) now past and business tax returns due on June 15, some sole proprietors and new business owners are likely now wondering whether they should become incorporated. This is a common question asked by business owners when meeting with the accounting and bookkeeping professionals at Canwest Accounting.

Sharlane Bailey, Owner of Canwest Accounting, says it often comes down to answering two key questions:  What was your net profit last year?  And what type of business are you running?

Call on the reliable team at Canwest Accounting’s Victoria or Langford locations to help you determine if incorporating your business is right for you.
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Choosing Between Sole Proprietorship & Corporate Status

With the deadline for filing personal income tax returns with Canada Revenue Agency (CRA) now past and business tax returns due on June 15, some sole proprietors and new business owners are likely now wondering whether they should become incorporated. This is a common question asked by business owners when meeting with the accounting and bookkeeping professionals at Canwest Accounting.

Sharlane Bailey, Owner of Canwest Accounting, says it often comes down to answering two key questions:  What was your net profit last year?  And what type of business are you running?

Call on the reliable team at Canwest Accounting’s Victoria or Langford locations to help you determine if incorporating your business is right for you.
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LET OUR BOOKKEEPING SEND YOU ON VACATION

Book your FREE consultation with Canwest Accounting to find out how partnering with us will help you work on -  not in -  your business.  
Canwest Accounting’s bookkeeping services at our Victoria or Langford locations will help save you time and hassles; will help you meet CRA requirements, let you make decision-making easier and track patterns to maximize your profitability.  And, to potentially free you up for a hard-earned vacation!

CALL US TODAY AT 250-388-4094 TO BOOK YOUR FREE CONSULTATION.
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LET OUR BOOKKEEPING SEND YOU ON VACATION

Book your FREE consultation with Canwest Accounting to find out how partnering with us will help you work on -  not in -  your business.  
Canwest Accounting’s bookkeeping services at our Victoria or Langford locations will help save you time and hassles; will help you meet CRA requirements, let you make decision-making easier and track patterns to maximize your profitability.  And, to potentially free you up for a hard-earned vacation!

CALL US TODAY AT 250-388-4094 TO BOOK YOUR FREE CONSULTATION.
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“We live in times in which ordinary people can do amazing things using the right tools” Xavier Davis

LET CANWEST ACCOUNTING HELP YOU DO AMAZING THINGS
10 TAX CREDITS & DEDUCTIONS TO KNOW ABOUT

1. Age amount  
The full amount changes from year to year, but in 2016 it is $4,457. If you’re above the age of 65 and you make less than $33,174, you can claim the full amount. If you make more than that, you can claim smaller amounts based on a percentage of your income.

2. Charitable Donations
The amount varies based on how much you donated during the tax year, which province you’re in, and what year you’re applying for.  In some situations,  you could potentially get close to a quarter of what you donated back!

3. First time home buyer
If you are buying your first home, you are entitled to a tax credit up to  $750 when purchasing a qualifying home in Canada during the tax year. This does not include the various grants available to homebuyers from Provincial governments including the property transfer tax grant, property tax grants, and more. Canwest Accounting can help identify grants and credits first-time homebuyers may be eligible for.

4. Child tax credit
If you have children under the age of 18 in Canada, you qualify for a monthly child tax benefit from the federal government that varies depending on your household income.

5. Children’s Activities
Soccer, hockey or piano lessons and extracurricular activities may be claimed. Keep all receipts for activities like Scouts, ski lessons, and painting classes and use them to calculate how much you may claim.

6. Medical expenses
Expenses relating to medical issues that are not covered by your healthcare providers, such as ambulance services or therapy animals, may be claimed on your taxes.

7. Transportation passes
Up to June 2017, monthly and annual transit passes can be claimed on your taxes for a refund that is based on your income and the amount claimed for you and your dependents.

8. Daycare
You may claim what you pay your childcare provider on your taxes regardless if your child(ren) are in care full or part-time.

9. Union Dues
If your job requires you to be a member of a union and you have to pay dues, you may claim those dues on your taxes.

10. Student loan interest
Depending on the amount of your student loans and the interest paid on them throughout the tax year, you may add a significant amount to your tax refund.  Keep track of the interest paid on student loans only to claim on your taxes

Learn more when you call on Canwest Accounting’s team at our Victoria or Langford locations
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Over 55? YOU MAY BE ABLE TO DEFER YOUR PROPERTY TAXES

Call on the reliable team at Canwest Accounting’s Victoria or Langford locations to help you determine if the BC Property Tax Deferment Program is right for you.  

The BC regular tax deferment program is a low-interest loan program that allows you to defer paying all or part of your property taxes on your principal residence if you're:
•    55 or older
•    a surviving spouse of any age, or
•    a person with disabilities
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LET OUR BOOKKEEPING SEND YOU ON VACATION

Book your FREE consultation with Canwest Accounting to find out how partnering with us will help you work on -  not in -  your business.  
Canwest Accounting’s bookkeeping services at our Victoria or Langford locations will help save you time and hassles; will help you meet CRA requirements, let you make decision-making easier and track patterns to maximize your profitability.  And, to potentially free you up for a hard-earned vacation!

CALL US TODAY AT 250-388-4094 TO BOOK YOUR FREE CONSULTATION.
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Post has attachment
“We live in times in which ordinary people can do amazing things using the right tools” Xavier Davis

LET CANWEST ACCOUNTING HELP YOU DO AMAZING THINGS
10 TAX CREDITS & DEDUCTIONS TO KNOW ABOUT

1. Age amount  
The full amount changes from year to year, but in 2016 it is $4,457. If you’re above the age of 65 and you make less than $33,174, you can claim the full amount. If you make more than that, you can claim smaller amounts based on a percentage of your income.

2. Charitable Donations
The amount varies based on how much you donated during the tax year, which province you’re in, and what year you’re applying for.  In some situations,  you could potentially get close to a quarter of what you donated back!

3. First time home buyer
If you are buying your first home, you are entitled to a tax credit up to  $750 when purchasing a qualifying home in Canada during the tax year. This does not include the various grants available to homebuyers from Provincial governments including the property transfer tax grant, property tax grants, and more. Canwest Accounting can help identify grants and credits first-time homebuyers may be eligible for.

4. Child tax credit
If you have children under the age of 18 in Canada, you qualify for a monthly child tax benefit from the federal government that varies depending on your household income.

5. Children’s Activities
Soccer, hockey or piano lessons and extracurricular activities may be claimed. Keep all receipts for activities like Scouts, ski lessons, and painting classes and use them to calculate how much you may claim.

6. Medical expenses
Expenses relating to medical issues that are not covered by your healthcare providers, such as ambulance services or therapy animals, may be claimed on your taxes.

7. Transportation passes
Up to June 2017, monthly and annual transit passes can be claimed on your taxes for a refund that is based on your income and the amount claimed for you and your dependents.

8. Daycare
You may claim what you pay your childcare provider on your taxes regardless if your child(ren) are in care full or part-time.

9. Union Dues
If your job requires you to be a member of a union and you have to pay dues, you may claim those dues on your taxes.

10. Student loan interest
Depending on the amount of your student loans and the interest paid on them throughout the tax year, you may add a significant amount to your tax refund.  Keep track of the interest paid on student loans only to claim on your taxes

Learn more when you call on Canwest Accounting’s team at our Victoria or Langford locations
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