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  August 2013                            PADGETT BUSINESS SERVICES®                         Vol. 11, No. 8

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Greetings!  

 

We hope you are enjoying the summer.  Do you have children or loved ones heading into post secondary education in the fall?  If so, you might find the article in this issue about Student Deductions very helpful. 

 

We are excited to say that we are now settling into our new offices.  If you haven't already, please make sure to change our physical address to:

 

Padgett Business Services

103, 11769 - 40th Street SE

Calgary, AB  T2Z 4M8

 

Note:  Our mailing address hasn't changed.  It's still:

 

Padgett Business Services

Box 3029, 614 - 33 Heritage Meadows Way SE

Calgary, AB  T2H 3B8

 

We wish everyone a safe and fun summer and we look forward to seeing you at our new offices.

 

Kate, Akash, Karin & Gerald

(403) 452-8183
In This Issue
Do You Have to File a Tax Return?
RECORD KEEPING GETTING YOU DOWN?
Common Deductions and Tax Credits for Students
Calculator

 

A tax return must be filed if: 

  • You have to pay income taxes;
  • You have not repaid all amounts withdrawn from your RRSP under the Home Buyers Plan or the Life Long Learning Plan;
  • You have to pay CCP because your pensionable income exceeds $3,500; 
Find our more!
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RECORD KEEPING GETTING YOU DOWN?
Padgett Connect
Business owners understand the importance of keeping
records up-to-date. Unfortunately, paperwork has a habit of piling up - quickly!

PADGETT BUSINESS SERVICES offers a solution - PADGETT CONNECT
 
PADGETT CONNECT is an easy-to-use business software applications package that is customized for your business. You don't need to be a computer whiz or an accountant to use this product. New users can start entering their records within a ˝ hour of installation on their computer. The package contains the following:

PADGETT CHEQUEBOOK - Makes bookkeeping simple
PADGETT INVOICING - Tracks and reports sales, customers and products
PADGETT PAYROLL - Makes paying your employees a breeze and keeps you in control

For more information on PADGETT CONNECT, visit our website or contact us at:

(403) 452-8183
PAdgett Business Servicess
Student Common Deductions and Tax Credits for Students

 

The most common deductions that apply to students are moving expenses and child care expenses.

 

Moving Expenses

 

You can deduct moving expenses if you move to attend courses as a full-time student or if you moved to start a new job, including summer employment, or to start a business. Your new home must be at least 40 kilometers closer to the new school or place of work than the previous home. Moving expenses can only be deducted against awards, employment or self-employment income.

 

Read full article! 
Padgett Business ServicesPadgett 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.