There is a Q & A Update about the Tax Credit for Public Transit Passes Beginning on July 1, 2006, the Government of Canada is offering individuals a non-refundable tax credit to cover the cost of public transit passes. If you have a public transit pass, make sure to read the questions and answers below. 1. What is the tax credit for public transit passes? The tax credit for public transit passes is a non-refundable tax credit for the cost of buying a monthly (or longer duration) pass for commuting on buses, streetcars, subways, commuter trains and local ferries. 2. [More]
Three of Manitoba’s credit unions merged late last year .. Assiniboine Credit Union, Astra Credit Union and effect January 1, 2007 they are now operating under the Assiniboine Credit Union name. Their website claims that everything should be integrated by April 2, 2007 however (click the above graphic). SOURCE (By The Way .. This Happened September 13, 2006) Come January the new Assiniboine Credit Union will have 23 branches across Winnipeg and one each in Thompson and Gillam. It will employ 521 employees, represent 100,000 members and is projected to have $1.8 billion in combined assets by December 2006. It [More]
In my line of business .. these are the two most important things that I have to worry about (besides actually doing the work, that is) … * Keeping track of my time for billing purposes * Keeping track of the work and tasks that I have to complete I’m pretty good with keeping track of my time … (see how I do it here) .. but I’ve been struggling with keeping track of the work coming in. You see .. last March 2006 my ToDo95 Software crashed .. I had been using that software since for almost a decade [More]
The following Notice of Tax Treaty Developments has just been posted on the Finance Canada Site. January 9, 2007 The Convention between Canada and the Republic of Korea for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income entered into force on December 18, 2006. The Convention was signed on September 5, 2006. In accordance with Article 28 of the Convention, its provisions have effect, in respect of withholding taxes, on amounts paid or credited to non-residents on or after January 1, 2007; and in respect of other taxes, for taxation years [More]
10th Place: Positive Proof of Global Warming 9th Place: Latest Grill Accessories 8th Place: Tattoo Of The Year 7th Place: Good Reason To Wear Pajamas To Bed 6th Place: Boy Genius 5th Place: The Ass Family 4th Place: How To Handle A Problem Neighbour 3rd Place: Arkansas Razorback players Clarke Moore, Brett Goode and Casey Dick need to stop hanging out on the sidelines! 2nd Place: This was actually on TV… The commentators Paused and didn’t say a Word… 1st Place: How Was Your Cereal This Morning?
I have been posting around the week of the 10th of each month a “THANK-YOU” post, like this one, to all the advertisers from the previous month listed as at month end. That’s a permanent link in this blog, under the category heading which I call .. “Sponsor Appreciation”. I know it’s hard out there trying to figure out where to spend your advertising dollars .. and well .. THANKS for considering 1-8-0-0-H-A-R-T. You may now advertise on this site in the form of Text Link Ads. I should note that the link in the previous sentence is an affiliate [More]
The following is now available on the CRA Web site: If you hear about a tax preparer offering larger refunds than other preparers, don’t be fooled! While most preparers provide excellent service to tax filers, a few unscrupulous return preparers file false and fraudulent tax returns and ultimately defraud their clients. Remember that even if someone else prepares your tax return, you’re the one responsible for all the information on the return. * Stay away from return preparers who offer you false tax claims. This could include false charitable donations or false child care expense claims, or maybe even false [More]
The following Economy In Brief has just been posted on the Finance Canada Site. Overview In the third quarter of 2006 real gross domestic product (GDP) grew 1.7% following a 2.0% gain in the second quarter. Real final domestic demand growth slowed to 2.8% in the third quarter from 3.6% in the second quarter. Residential investment declined 8.2%. Growth in government spending on goods and services slowed, mainly reflecting a winding down of census-related expenditures. Also, business inventory accumulation weakened. Real exports increased after two consecutive quarterly declines while import growth slowed. As a result, international trade had only a [More]
In the last two days, I can’t begin to mention the number of instances in my Bloglines that I have seen mention of the 2007 Consumer Electronic Show aka C.E.S. being held in Las Vegas right now, from January 8-11, 2007. Been There, Done That! Our family was one that used to regularly go to these Consumer Electronics Shows twice a year .. that is when it used to happen twice a year .. (January in Las Vegas and June in Chicago). I would usually go to the June show at McCormick Place in Chicago, as I was in High [More]
The following is now available on the CRA Web site: Ottawa, Ontario, January 5, 2007… The Canada Revenue Agency (CRA) wishes to inform parents and organizations providing eligible physical activity programs that additional information about the proposed Children’s Fitness Tax Credit is now available online at www.cra.gc.ca/fitness. “I am pleased to be working in partnership with my Cabinet colleague, the Honourable Jim Flaherty, to make this tax credit available to parents across the country, said National Revenue Minister Carol Skelton. The CRA is working to make sure parents and organizations providing eligible programs of physical activity have the information they [More]
The following is now available on the CRA Web site: News Release Ottawa, Ontario, January 4, 2007… The Canada Revenue Agency (CRA) is proud to announce the launch of a new publication called Making a Difference for Canadians 2006. “I am pleased to present this report, which describes how we, at the CRA, create value for our clients and improve service to taxfilers and benefit recipients,” said Michel Dorais, Commissioner and Chief Executive Officer of the CRA. The report shows how the CRA contributes to the well-being of Canadians through the collection of revenue, the distribution of benefit payments, and [More]
The following is now available on the CRA Web site: Alert: Don’t be fooled by unsolicited e-mails or phone calls! The Canada Revenue Agency (CRA) is warning the public to beware of a number of e-mail and telephone scams in which individuals falsely identify themselves as officials from the CRA or the Department of Finance Canada. There are many versions of the scam, but the general concept remains the same: the victim receives an unsolicited phone call from an individual claiming to be a government official or an e-mail from a legitimate-sounding generic e-mail account that appears to come from [More]
Okay – I’m getting the hang of this Metacafe embed code, and fixed the previous coding … I just thought this was amusing. I never could figure out that cube – yet, solve it in 5-easy steps? Wow! .. But, alas .. I lost it during step 3 .. and got a headache during step 5! How To: Rubik’s Cube – video powered by Metacafe
I was browsing Metacafe today .. and found this cool math trick .. which shows you how to multiply 2 digit or 3 digit numbers quickly … Practice Makes Perfect! Cool Math Trick – Really Fast Multiplication ! – video powered by Metacafe
Thank-You Eric Dunlap for your Spam Table .. it must have taken a lot of work, but a good reading! I was wondering if anybody actually calls (270) 818-7244 for a Fake Diploma
I received a phone call from my ISP#1 .. Blacksun.ca over in Saskatchewan .. They host my mega account of the PetLvr.com domain. This account includes many sub-domain and domain aliases .. like this one! This 1800HART.com domain is a domain alias for another sub-domain. I know it gets confusing at times, because I actually host HBSMC.com (my business account) on my other ISP#2 server .. and http://PetLvr.com/hbsmc/blog/ is the originating source for http://1800HART.com/blog/ (I’ve duplicated the root to avoid confusion of the passings of clients to this site. ANYWAY .. http://HARTandYVONNE.com is also another domain that is aliased under [More]
The following News Release or Speech has just been posted on the Finance Canada Site. Ottawa, December 28, 2006 2006-091 The Honourable Jim Flaherty, Minister of Finance, today announced proposals to improve the taxation of financial institutions by better aligning the current tax rules with new accounting standards set out by the Accounting Standards Board that came into effect as of October 1, 2006. “Canada’s New Government is acting to make our tax system simpler and fairer,” said Minister Flaherty. “The proposals I am putting forward today will reduce the compliance burden on financial institutions and improve the economic efficiency [More]
The following News Release or Speech has just been posted on the Finance Canada Site. Ottawa, December 28, 2006 2006-090 The Honourable Jim Flaherty, Minister of Finance, today proposed an amendment to the Excise Tax Act to exempt the services of midwives throughout Canada from the goods and services tax (GST) and the harmonized sales tax (HST). “By taking this action today, we are supporting the midwifery profession and making this birthing option more affordable for women throughout Canada,” said Minister Flaherty. The Government of Canada has adopted an objective approach to determining which services should be considered basic health [More]
The following News Release or Speech has just been posted on the Finance Canada Site .. Ottawa, December 27, 2006 2006-089 The Honourable Jim Flaherty, Minister of Finance, announced today the automobile expense deduction limits and the prescribed rates for the automobile operating expense benefit that will apply in 2007. Specifically: * The ceiling on the capital cost of passenger vehicles for capital cost allowance (CCA) purposes will remain at $30,000 (plus applicable federal and provincial sales taxes) for purchases after 2006. This ceiling restricts the cost of a vehicle on which CCA may be claimed for business purposes. * [More]
After 7+ months using SWIFT .. I have decided that this software has basically made my life miserable, by not being user friendly enough to suit my needs and use it efficiently! Basically .. I need a TO-DO List with the following characteristics: * Lite version – in resident memory, I don’t want comprehensive software installation * Ability to have unlimited To-Do entries * Ability to create a reasonably amount of different categories * Ability to prioritize, and order To-Do List in both the order of that received and by due dates * Ability to archive history after competion of [More]
Last week I received an email asking why I post 100% of certain government news items and other times I don’t. There was also a comment implied that I’m “STEALING CONTENT” when I post the article in its entirety. Naturally, I trashed that email and tried to forget all about, and figured the person would just show up on one of my posts and leave a comment – but, has not done so. Firstly, around my sites I do post a lot of other people’s content .. in the form of Ezine articles and news releases. For ezine articles, I [More]
The following News Release or Speech has just been posted on the Finance Canada Site. Ottawa, December 22, 2006 2006-088 Canadian families, students, workers and seniors will be able to keep more of their hard-earned money in 2006 and 2007. Canada’s New Government is providing substantial and immediate tax relief in every way the government collects taxes. “Within the first 100 days of taking office, our government moved swiftly to lower taxes in order to create the right conditions and opportunities for families and businesses to be successful,” said Minister Flaherty. “While we have made great strides, Canadians still pay [More]
The following News Release or Speech has just been posted on the Finance Canada Site. Release of The Fiscal Monitor The Honourable Jim Flaherty, Minister of Finance, today released The Fiscal Monitor for October 2006. Highlights October 2006: budgetary surplus of $0.4 billion There was a budgetary surplus of $0.4 billion in October 2006, compared to a $1.6-billion surplus in October 2005. Revenues decreased by $0.2 billion, or 1.0 per cent, reflecting both the goods and services tax (GST) rate reduction and a number of one-time factors affecting income tax revenues. Program expenses increased by $1.0 billion, or 7.0 per [More]
I thought I would add some clarity to the designation of eligible dividends, as noted in the previous post notice from Canada Revenue Agency .. although you should direct your queries to your own tax preparer or CPA/CA/Accountant for tax professional advice. Background Effective January 1, 2007 the small business limit for Canadian Controlled Private Corporations (CCPC) and all groups of associated CCPCs .. will be increased to $400,000. That means that eligible small businesses will be able to earn $400,000 net taxable income and pay income taxes at a lower tax rate. If the business earns more than this [More]
The following is now available on the CRA Web site: 2006-12-20 Canadian resident individuals who receive eligible dividends in 2006 and subsequent years will be entitled to a higher gross-up and dividend tax credit. Corporations have to designate each eligible dividend that they pay, and notify shareholders in writing that the dividend is eligible. A corporation must make every effort to notify shareholders of an eligible dividend. The following are general guidelines for corporations to follow. A. Notification of Shareholders For the 2006 Year All Corporations For 2006, we will accept designations based on identification of eligible dividends on the [More]
The following is now available on the CRA Web site: Each year since 2000, personal income tax amounts have been indexed to inflation using the Consumer Price Index data, as reported by Statistics Canada. Changes to tax bracket thresholds and non-refundable credits will take effect as of January 1, 2007. Adjustments to the Canada Child Tax Benefit (including the National Child Benefit supplement and the Child Disability Benefit) and the Goods and Services Tax Credit will take effect as of July 1, 2007, to coincide with the beginning of the “program year” for these benefits. The following chart compares the [More]
The following is now available on the CRA Web site: News release Revenue Minister Skelton announces donor information Web resource Ottawa, Ontario, December 20, 2006… Carol Skelton, Minister of National Revenue, today announced the launch of a useful new resource called Giving to Charity: Information for Donors, now available on the Canada Revenue Agency (CRA) Web site. “The Canada Revenue Agency regulates registered charities in Canada and is committed to providing donors with relevant information,” said Minister Skelton. “Many Canadians make donations at this time of the year, so I am pleased that Canada’s New Government is offering user-friendly information [More]
PLEASE NOTE: YOU ARE NOT GOING CRAZY! THAT ENVELOPE DIDN’T ARRIVE YET! I just received an email from Canada Revenue Agency to advise my clients of the following: For 2006 and subsequent tax years, taxpayers who had their return prepared by a tax professional in the preceding tax year, and had a resulting nil or debit balance, will no longer receive a tax package from the Canada Revenue Agency (CRA). This basically means that if you had a no balance owing or received a refund and someone like me EFILED your 2005 tax return .. you will not get that [More]
For every single comment made on this post at http://Gifter.org .. sponsors will donate $1 per comment to charity. If you could make one wish for the world, what would it be? We would like to know. In fact, we want to know so much, we’re willing to donate $1 to charity for each wish comment posted here. Post a comment. Tell us your wish for the world. Do it as a way of coming together with others, to show you care about everyone else around you. Do it to demonstrate your generosity and hopefulness. Go! Make a Wish! Feel [More]
The following News Release or Speech has just been posted on the Finance Canada Site. Ottawa, December 19, 2006 2006-084 The Honourable Jim Flaherty, Minister of Finance, today released guidelines on the Children’s Fitness Tax Credit, which is scheduled to become effective on January 1, 2007. The Minister confirmed that as recommended by the Expert Panel for the Children’s Fitness Tax Credit, the definition of eligible programs will support children’s participation in all programs that significantly contribute to their fitness. In addition, the Minister indicated that substantial additional support would be provided to children eligible for the disability tax credit [More]
Thord Daniel Hedengren’s Digital Playground has tagged me this morning with one of those MEMEs you hear about. Basically .. it’s another chain letter out here in the blogosphere, and if I don’t respond within 24 hours .. something horrible will happen to me .. like I’ll fall down the stairs, get hit by a bus, swallow a marble, or some other wierd curse placed upon my family! Just kidding~ If you are really curious how this works, click on the link to Thord’s site, and just follow all the links back to whoever links the current person back to [More]
The following News Release or Speech has just been posted on the Finance Canada Site. ….. The Honourable Jim Flaherty, Minister of Finance, issued the following statement today at the conclusion of his meeting with provincial and territorial counterparts: ….. We have agreed to work together on a number of shared priorities. Three joint working groups of officials from the federal government and interested provinces have been established to examine how Finance Ministers from all jurisdictions can contribute to making progress on: * Improving international competitiveness by strengthening internal trade and labour mobility, and improving regulatory efficiency; * Tax collaboration [More]
The following News Release or Speech has just been posted on the Finance Canada Site. Ottawa, December 15, 2006 2006-082 Following the close of financial markets today, the Department of Finance provided further guidance on “normal growth” in respect of the tax measures announced on October 31, 2006 regarding income trusts and other flow-through entities. On October 31, 2006, the Minister of Finance, the Honourable Jim Flaherty, announced a Tax Fairness Plan. The Plan includes a Distribution Tax on certain amounts distributed by a “specified investment flow-through” (SIFT) trust or SIFT partnership. This new tax applies as of 2007 to [More]