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Email:      taxes@mallardsnest.ca
Address:  23 - 31st St South

               Wasaga Beach, ON  L9Z 2C6
Phone:    416-529-8926  Fax:  1-888-653-6016

December 31, 2018

As of January 1, 2019 business owners can generate up to $50,000 in passive income (investment income) before they start to lose access to the small business tax rate.

In addition the small business tax rate is going down from 10% to 9% in 2019.  

December 31, 2018

Watch out for changes in your pay cheque in 2019. CPP contributions will increase to 5.1% from 4.95% on earnings between $3,500 and $57,400. The increase will eventually pay for the new enhanced CPP.
This will be partially offset by a decrease in EI premiums, 1.62% fro...

November 15, 2018

Here are some important dates to remember:

Feb 28, 2019 - This is the last day employers can mail T4 slips and institutions can mail T5's

March 1, 2019 - This is the last day you can contribute to your RRSP for the 2018 tax year

March 31, 2019 - This is the last day mos...

November 2, 2018

Did you know that if you make a political donation you get a 75% tax credit?  So if you want to contribute $100 it will only end up costing you $25!

March 9, 2018

The Ontario children’s activity tax credit (line 6309) and the Ontario healthy homes renovation tax credit (line 6311) have been eliminated.
In addition, taxpayers who reside in Ontario at the end of the current taxation year, who were at least 65 years old on the last...

March 9, 2018

Note that the public transit amount is eliminated as of July 1, 2017. Therefore, for 2017, only fees paid for the use of commuter public transit services for the period from January 1, 2017, to June 30, 2017, are eligible for the public transit amount.

January 26, 2017

The children's fitness tax credit has been reduced from $1,000 to $500 and will be eliminated entirely in 2017.  The children's arts tax credit has been reduced from $500 to $250 and will also be eliminated in 2017

January 26, 2017

Starting in 2016 you are required to report basic information on the sale of your principal residence.  You do not have to pay capital gains tax on any gain if you did not use any part of it to earn income.

January 26, 2017

Now eligible educators can claim a 15% REFUNDABLE tax credit on up to $1,000 of eligible teaching supplies bought during the year.

January 26, 2017

Are you ready for the 2016 tax filing?  Are you informed about the new tax credits?  Keep checking here for news.

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