ROBINSON & ASSOCIATES

Tax Alerts

Tax Briefing(s)

ON – 2012 Corporate Tax Rates
As of January 1, 2012, Ontario levies a general corporate tax rate of 11.5%, with that rate currently scheduled to be reduced to 11% effective July 1, 2012.The small business threshold is $500,000, an...

ON – 2012 Individual Tax Rates and Brackets
Effective January 1, 2012, the provincial tax rates and income thresholds for Ontario are as follows:5.05% on the ...

ON – Apprenticeship training tax credit program expanded
The province of Ontario provides an apprenticeship training tax credit program (ATTP), under which employers who take on apprentices can receive reimbursement of 35% of eligible expenditures. Small...

ON – Changes to property tax treatment of renewable energy installations
Under new regulations which are effective as from January 1, 2011, Ontario residents who install renewable energy systems (e.g., solar or wind power) on their property will not, in most cases, face...

ON – Interest Rates—2012
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The chart below sets out...

ON – March 31 deadline for 30% tuition refund application
The province of Ontario provides post-secondary students whose parents have an annual income of less than $160,000 with a 30% reduction of tuition costs, beginning in January 2012.The tuitio...

ON – Personal Tax Credit Amounts for 2012
For 2012, the province will provide the following non-refundable personal tax credit amounts:Basic personal amount ………………………&he...

ON – Province launches tuition reduction program for post-secondary students
Effective January 1, 2012, the province of Ontario will be providing most post-secondary students in the province with a 30% reduction in tuition costs. The tuition reduction will be available to f...

ON – Schedule issued for benefits payments in 2012 and 2013
The Ontario government has issued a calendar listing the dates on which provincial benefits and credits will be paid during 2012 and 2013....

ON – SR&ED seminar schedule for 2011/12
The Ontario Ministry of Revenue, in conjunction with the Canada Revenue Agency (the CRA), sponsors free seminars which provide information on scientific research and...

ON – Tax credits and benefits Web site expanded
The Ontario Ministry of Finance has posted on its Web site a summary of the individual tax credits and benefits currently provided by the province, together with information on the individual and f...

QC – 2012 Corporate Tax Rates
For the 2012 tax year, Quebec will levy a corporate tax rate of 11.9% on active business income ineligible for the small business rate, income from manufacturing and processing, and passive income ...

QC – Automobile deduction limits and rates for 2012
Revenu Québec has posted the limits and rates which will apply for 2012 in relation to the deduction of automobile expenses, which can be found on the Revenu Québec Web site at ...

QC – First payment of 2012 individual income tax instalments due March 15, 2012
Quebec taxpayers who are required to make instalment payments of provincial individual income tax are required to make the first of those payments on March 15, 2012.Information is provided o...

QC – Fuel tax increase to take effect April 1
Effective April 1, 2012, fuel taxes levied in the province will increase by 1 cent per litre, as follows:the rate of 17.2 cents per litre of gasoline will be raised to 18.2 cents; and...

QC – Guide issued for preparers and transmitters of RL slips for 2011
Revenu Québec has issued a guide to be used by preparers and transmitters of RL slips for the 2011 taxation year. The updated guide, in which changes for 2011 are highlighted, contains the informat...

QC – Guides for preparation of 2011 tax returns posted on Revenu Québec Web site
Revenu Québec has recently posted on its Web site a number of guides relating to the preparation of individual income tax returns for the 2011 taxation year.Those guides, which are available...

QC – NETFILE service now available for 2011 tax returns
Like the federal government, the government of Quebec provides a net file service which enables Quebec residents to file their provincial tax returns online. The Quebec net file service for filing ...

QC – New online services available through Revenu Québec Web site
Revenu Québec has announced that taxpayers who have registered for the My Account feature on its Web site can now access the following new online services:viewing personal income tax re...

QC – Personal Tax Credit Amounts for 2012
For 2012, the province will provide the following non-refundable personal tax credit amounts:Basic amount …………………………&hel...

QC – Prescribed Interest Rates for 2012
Revenu Québec has announced the interest rates that will be levied and paid on amounts owed to and by the government of Quebec in 2012. The debit and credit interest...

QC – Transitional rules for increased QST rate effective January 1, 2012
Effective January 1, 2012, the Quebec sales tax rate will increase from 8.5% to 9.5%, and transitional rules will apply to transactions which straddle the January 1 ...

2011 individual income tax package available online
The individual income tax package for the filing of personal tax returns for the 2011 taxation year is now available on the Canada Revenue Agency Web site....

2011 T2 corporation income tax guide issued by the CRA
The Canada Revenue Agency (CRA) has issued the income tax guide to be used by Canadian corporations in completing their corporate income tax return for the 2011 tax year.The guide is current...

Automobile deduction limits and expense benefit rates for 2012
The Department of Finance has released the automobile expense deduction limits and the prescribed rates for the automobile operating expense benefit that will apply in 2012, and they are as follows...

Bank of Canada maintains interest rates at current levels
The Bank of Canada announced, on March 8, that in its view no change is needed to current interest rates. Consequently, the bank rate will remain at its current level of 1.25%.In its announc...

E-filing services now available for individual 2011 tax returns
Around the end of February, most Canadians will be receiving the information slips (T4s, T5s, etc.) containing the information needed to file their 2011 income tax returns.The Canada Revenue...

Eco-ENERGY retrofit program ends early
The Minister of Natural Resources has announced that, as of January 28, 2012, his department has stopped accepting new registrations for the federal EcoENERGY retrofit program. The program was orig...

Errata sheet issued for 2011 business and professional income reporting form
The CRA (Canada Revenue Agency) has announced that an error has been discovered in Form 2125, Statement of Business or Professional Activities (for 2011), which was distributed earlier this year. A co...

Federal budget date set for March 29, 2012
Minister of Finance Jim Flaherty has announced that the 2012-13 federal Budget will be released on Thursday March 29, 2012.It is expected that the budget will be brought down around 4:00 EDT...

Finance proposes new restrictions on credit card issuers
The Department of Finance has announced that new regulations will be proposed to ban the distribution of unsolicited credit card cheques by federal financial institutions, which would include the m...

First payment of 2012 individual income tax instalment payments due March 15, 2012
Individual who are required to make instalment payments of income tax for 2012 must make the first of those payments on March 15, 2012. Such individuals will have received an instalment payment rem...

Guide issued for e-filers of 2011 individual income tax returns
The Canada Revenue Agency (CRA) has issued its guide for e-filers of individual income tax returns for the 2011 tax year. The guide outlines federal and provincial/territorial changes to the tax re...

Inflation rate stands at 2.5% for January 2012
The latest issue of Statistics Canada’s Consumer Price Index release shows that prices rose by 2.5% for the month of January 2012, as measured on a year-over-year basis. The rate for December...

NETFILE service for 2011 individual tax returns now available
The Canada Revenue Agency’s (CRA) NETFILE service for the online filing of 2011 individual income tax returns is now available on the CRA Web site at ...

New CPP election form now available on CRA Web site
Beginning in 2012, changes to the Canada Pension Plan will be made which will affect Canadians who are between the ages of 65 and 70 and, although currently receivin...

Obtaining tax information slips online
Recipients of certain types of government benefits, including Old Age Security, Canada Pension Plan, and Employment Insurance can obtain the tax information slips (T4A (OAS), T4A(P), T4E) needed to...

Prescribed interest rates for 2012
The Canada Revenue Agency (CRA) has announced the interest rates that will apply to amounts owed to and by the federal government for the first quarter of 2012, as w...

Unemployment rate down slightly for February
The latest issue of Statistics Canada’s Labour Force Survey indicates that, while overall employment was unchanged for the month of February 2012, there was a slight decline in the unemployme...

WELCOME TO ROBINSON & ASSOCIATES

We have the in-depth tax experience for corporate tax and personal tax services. We deliver high quality and posses great tax knowledge to assist you. We can serve all your Canadian and International tax consulting and tax compliance requirements plus assist in your management decisions to tax minimization. CALL US TODAY AT 416-271-3976.

Go to our Client Tax Organizer on our Info Center tab and we will help you organize your 2011 and / or prior years personal tax information thus you will get all the TAX SAVING DEDUCTIONS available to you.

We have many FREE financial calculators including the lease vs. finance payments in our financial tools section. Use the calculators for FREE to assist and help with your budgeting and financial planning goals.

We have taken the time to gather many links to external Websites that we felt would be of interest to our clients and visitors (in our Links section).

Please feel free to contact us with any questions or comments - we'd love to hear from you. We pride ourselves on being proactive and responsive to our clients' inquiries.

WELCOME TO ROBINSON & ASSOCIATES

Robinson & Associates - "facilitating small business transformation from the shoebox to the boardroom".