Watts Advisors Accounting & Tax Blog

Personal Tax Return Checklist 0

March 6, 2012

Below is a checklist that I have put together to help my clients organize and compile the information needed to complete their personal tax return. Slips All information Slips (T4, T3, T5, T4E, T4A, T4AP, T4RSP, T4RIF, T5013) Old Age Security and CPP benefits Other Pensions and Annuities Employment insurance benefits Social assistance payments Workers compensation Benefits RRSP ...

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Shareholder Loans 0

March 1, 2012

One area of confusion that some clients can have is why there are strict rules about borrowing money from the company that they own.  The Canada Revenue Agency (CRA) has developed a set of rules strictly regulating how an individual can borrow money from a company that they own. Why? These rules ...

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Important Dates For 2012 0

February 7, 2012

As we head into to the upcoming “Tax Season” it is important to remember several key dates in 2012 for both individuals and corporations.   These dates are important, because if these deadlines are missed you may be subject to costly fines and penalties. Important Dates: January 15 – Remittance date for fourth ...

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