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March 2013 PADGETT BUSINESS SERVICES� Vol. 11, No. 3
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Greetings!
Personal tax return filing deadlines:
Your personal tax return for 2012 has to be filed on or before April 30, 2013
Self-employed persons:
If you or your spouse or common-law partner carried on a business in 2012, your return for 2012 has to be filed on or before June 15, 2013. However, if you have a balance owing for 2012, you still have to pay it on or before April 30, 2013.
Call us today to book your appointment!
Kate, Akash, Karin & Gerald
(403) 982-8828
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Personal Tax Returns Processed by CRA
Canadians file more than 26 million individual income tax and benefit returns each year, and all are electronically analyzed. Based on this analysis, CRA selects certain returns for review because they are high risk.
Read full article
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Claiming Automobile Expenses
 One of the more common expenses claimed by taxpayers are automobile expenses (applies to any motor vehicle such as van, bus, pickup truck, station wagon, SUV or other truck). Many individuals use their automobile for work or business and incur personal expenses in doing so.
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Registered Educational Savings Plan (RESP)
A RESP is a savings plan for post-secondary education which allows funds to accumulate on a tax-deferred basis up to certain limits. There is no annual limit for contributions.
Read article
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Ask the Experts:
Get a free cost analysis and a second opinion.
You want to have problem-free payment processing and to increase your profits.
As a valued Padgett client, let Chase Paymentech provide you with a free cost analysis of your processing costs. They will help you determine what your company needs to do to manage processing costs and optimize your payment solution.
Benefit from their knowledge and expertise in the payment industry! Get actionable answers and informed advice on your credit and debit processing questions.
Call your local Padgett representative today for more details and to set up an appointment for a no cost, no obligation, 30 minute consultation.
Certain terms and conditions apply. Cost analysis will be based on calculations for comparable services. Merchant must provide most recent payment processing statement to Chase Paymentech to confirm existing rates.
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RESP Canada Learning Bond
The Canada Learning Bond (CLB) is part of the Canadian RESP program. Actually the CLB is a grant. The big difference between this grant and the regular RESP grants is that no contribution is required.
Learn about CLB!
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Employer - Paid Disability Premiums
If you think that paying for your employee's disability premiums is always a good thing, think again. If you provide your employees disability is a nontaxable fringe benefit, payments they receive upon their disability will be, in most cases, FULLY taxable to them!
Find out more!
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 Padgett Business Services is dedicated to meeting the tax, government compliance, profit & financial reporting and payroll needs of businesses with fewer than 20 employees in the retail and service sector of the economy. This publication suggests general business planning concepts that may be appropriate in certain situations. It is designed to provide complete and accurate information to the reader. However, because of the complexities of the tax law and the necessity of determining whether the material discussed herein is appropriate to your business, it is important you seek advice from your Padgett office before implementing any of the concepts suggested in this newsletter.
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