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January 2014 PADGETT BUSINESS SERVICES� Vol. 12, No. 1
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We would like to wish everyone a Happy New Year! We look forward to doing business with you in 2014.
Sincerely,
Karin & Gerald
(403) 452-8183
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Find out everything there is to know about estate planning!If you have additional questions, don't hesitate to contact us!
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Remitting GST/HST on Taxable Benefits
Did you know that GST/HST must be remitted on a taxable benefit unless the benefit is tax exempt or zero-rated, for example the benefit on low-interest loans? An example of a tax benefit that is not exempt includes the automobile standby charge and operating expense benefit. GST/HST must be remitted on shareholder benefits if they fall into Subsection 15(1) and are not tax zero-rated or tax exempt.Read full article
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A New Year's Resolution That Will Be Easy To Keep!
We all make New Year's resolutions with the best of intentions. This year, resolve to make running your business less complicated. Start using PADGETT CONNECT. This great administrative tool will make record keeping & payroll preparation a breeze.
Padgett Business Services offers a better 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, contact us today at
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Form T2200 - Declaration of Conditions of Employment
Canada Revenue Agency (CRA) expects employers to complete Form T2200 for employees that have reasonable grounds to make expense claims against employment income. If there is some doubt, CRA will provide interpretive assistance.
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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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