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  • CPA Not-for-Profit Forum 2019 is Around the Corner

    February 4, 2019 by

    CPA Canada is hosting the the Not-for-Profit Forum 2019, on February 6-7th.  One of the leading events for Not-for-Profit professionals in Canada, the forum is designed to drive the sector forward and help Not-for-Profit organizations adopt to the changing environment. Experienced industry professionals will raise current NPO sector issues and share their valuable advice and strategies.
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  • 2019 Automobile Deduction KLimits and Expense Benefit Rates for Business

    January 23, 2019 by

    •On December 27, 2018, the Department of Finance Canada announced the income tax deduction limits and expense benefit rates that will apply in 2019 when using an automobile for business purposes. The following two changes are effective January 1, 2019; •The tax-exempt allowance paid by employers to employees who use their personal vehicle for business
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  • 2019 Canada Pension Plan (“CPP”) Contribution Rates

    January 23, 2019 by

    The CPP contribution rates and maximums for 2019 are as follows: Maximum Pensionable Earnings $ 57,400.00 Annual Basic Exemption $ 3,500.00 Maximum Contributory Earnings $ 53,900.00 Contribution Rate 5.10 % (Employee and Employer) Maximum Employee Contribution $ 2,748.90 Maximum Employer Contribution $ 2,748.90 The Canada Revenue Agency (“CRA”) will gradually increase the contribution rates to
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  • Living on the Fringe

    January 18, 2019 by

    On January 14th, 2019, Hogg, Shain and Scheck attended Foreign Tongue, a Next Stage Theatre Festival performance presented by The Toronto Fringe, at The Factory Theatre. Both The Toronto Fringe Festival and The Factory Theatre are Not-for-Profit clients of the firm. Foreign Tongue is a new musical by a Toronto-based, Yugoslavia-born writer, Lola Xenos, that
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  • The HSS Staff Academy

    January 14, 2019 by

    The semi-annual HSS academy was held for all accounting staff on November 22nd and 23rd, 2018 at the BMO Leadership Centre. This off site day is designed to develop soft and technical skills essential for HSS staff roles as professionals. During the academy, HSS was joined by Dr. Ken Jones, Dean Emeritus & Professor Emeritus
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  • Important due dates for 2019 and Tax Deadlines for 2018 Tax Filing

    January 13, 2019 by

    Important due dates for 2019 and Tax Deadlines for 2018 Tax Filing February 28: T4,T4A,T5 slips and summaries March 1: Last day for 2018 RRSP contribution April 30: Personal Tax Filing Deadline April 30: Payment Deadline for Individuals and Sole Proprietor June 17: Sole Proprietor(and spouse) and Partnership Return Filing Deadline – (April 1: Partnership information
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  • T1134 Form Updates

    December 15, 2018 by

    T1134 Filing Deadline Change On October 25, 2018, the Department of Finance released a Notice of Ways and Means Motion that included changes to the filing deadline for filing Form T1134. Form T1134, an information return for taxpayer’s with investments in non-resident corporations (known as foreign affiliates). Historically, a taxpayer had up to 15 months
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  • Fall 2018 Federal Economic Statement

    December 13, 2018 by

    On November 21, 2018, the Honourable Bill Morneau presented the Federal government’s 2018 Fall Economic Statement. In the 2018 Federal Budget, the government stated that they would conduct a detailed analysis of U.S. tax reform to assess any potential impacts on Canada. Summary of New Tax Measures ·  Enhanced CCA rate of 100% for new
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  • 2018 Ontario Economic Outlook and Fiscal Review

    December 13, 2018 by

    Personal Income Tax The 2018 Ontario Budget had proposed adjustments to the tax rates, brackets, surtax and credits for Ontario Personal Income Taxes. These changes will not implemented. Corporate Income Taxes The 2018 Ontario Budget had proposed to parallel a Federal measure to phase out the $500,000 small business limit for corporations (and associated corporations)
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  • Ontario Employer Health Tax (EHT) 2019 Update

    December 13, 2018 by

    ONTARIO – EMPLOYER HEALTH TAX (EHT) The Province of Ontario recently announced that effective January 1, 2019, the EHT exemption will increase from $450,000 to $490,000. This increase is a result of adjusting the exemption every 5 years for inflation. Eligible employers are exempt from EHT on the first $490,000 of total Ontario remuneration each
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  • Ted Rogers School of Management Scholarship Awards

    December 8, 2018 by

    On November 21, 2018, the Ted Rogers School of Business Management, Accounting & Finance held a special awards night recognizing the achievements of students who have shown success academically and involvement with Ryerson University. Hogg, Shain & Scheck (HSS) has been supporting scholarships Ryerson University for a number of years now. This year the HSS
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