
01.02.2007 -We integrated the Benecaid health benefits plans for sole-proprietors, incorporated professionals, small to medium sized employers into our financial planning services. All health-related expenses are 100% tax-deductible. We help our clients open these cost-effective benefits programs. Read more...
28.06.2007-The Federal Government introduced a new $2,000 child tax credit effective July 1, 2007 named the “Child Amount” for each child born in 1990 or later. Employees have the following options for the claiming of this credit: 1) Claim the Child Amount when filing their personal income tax return for 2007 OR
2) Send the required information as detailed in this notice to Payroll Services. Payroll Services will add this credit to your TD1 on file and the amount of tax deducted through payroll will be reduced accordingly. For an employee in the $50,000 salary range this will result in a savings of approximately $14 per child per pay. When the child reaches 18 years of age the employee must send a revised TD1 form to Payroll Services to remove this credit or the employee will be required to pay additional tax when filing their tax return.
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