Category Archives for Case Studies

The Principal Residence Exemption has changed

On October 3, 2016 the Minister of finance, Bill Morneau, announced a major change of the rules regarding the Principal Residence Exemption. A few key points:   Taxpayers will be required to report the disposition of property for which the principal residence exemption is claimed. The CRA will gain the authority to assess taxpayers, beyond […]

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The Duties of an Executor

Below is a laundry list of many of the duties and responsibilities you will have as an executor:   Your first duty is to participate in a game of hid and seek to find the will and safety deposit box key(s). If you are lucky, someone can tell you whom Mr. Stiff’s layer was and, […]

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 YEAR-END TAX PLANNING  December 31, 2013 is fast approaching… See below for a list of tax planning considerations.  Please contact us for further details and to discuss whether these may apply to your personal tax situation.  SOME 2013 YEAR-END TAX PLANNING TIPS INCLUDE:  1)      Certain expenditures made by individuals by December 31, 2013 will be […]


EI Hiring Credit for Small Business (HCSB)

Employment insurance hiring credit for small businesses (HCSB) will be extended for the 2012 year. What this means is if you paid EI premiums of less than $10,000 and had an increase in premiums from 2011 to 2012, your payroll account will automatically be credited greater than $2, but no more than $1,000 for the 2013 year. For example, if your […]

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Shared Custody Tax Benefits

CRA allows each shared-custody parent to receive the Child Tax Benefit  and the child component of the HST. You will be paid 50% of the benefits effective July 2011. You need to fill out FORM RC66 with a letter attached explain the child’s living arrangements.

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Welcome to the Saunders & Associates Inc. New Blog

We are an accounting office in Bracebridge, located in the heart of the Muskoka Lakes.  We will be coming to you with information which will be useful to you and if you need any clarification, we will be more than happy to answer any of your questions.  You can also find us on the web […]

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