14 - Blog - Jones & O’Connell LLP

What’s new on this year’s tax return?

By Jones & O'Connell LLPAccounting, Auditing, Tax & Consulting NewsMarch 4, 20190 comments

While Canadian taxpayers must prepare and file the same form – the T1 Income Tax and Benefit Return – every spring, that return form is never the same from one year to the next. The one constant in tax is change, and every year taxpayers sit down to face a different tax return form ...

Responding to a tax instalment reminder from the CRA

By Jones & O'Connell LLPAccounting, Auditing, Tax & Consulting NewsFebruary 25, 20190 comments

Sometime during the month of February, millions of Canadians will receive mail from the Canada Revenue Agency (CRA). That mail, a “Tax Instalment Reminder”, will set out the amount of instalment payments of income tax to be paid by the recipient taxpayer by March 15 and June 17 of ...

RRSPs and TFSAs — making the annual contribution

By Jones & O'Connell LLPAccounting, Auditing, Tax & Consulting NewsFebruary 11, 20190 comments

For most taxpayers, the annual deadline for making an RRSP contribution comes at a very inconvenient time. At the end of February, many Canadians are still trying to pay off the bills from holiday spending, the first income tax instalment payment is due two weeks later on March 15 ...

Apprenticeship training tax credit eliminated

By Jones & O'Connell LLPAccounting, Auditing, Tax & Consulting NewsJanuary 20, 20190 comments

The province of Ontario provided employers who hired and trained eligible apprentices in designated construction, industrial and motive power, and certain service trades with a refundable tax credit, the Apprenticeship Training Tax Credit (ATTC). The maximum such credit was $5,000 ...

Tax deadlines and limits for the 2019 tax year

By Jones & O'Connell LLPAccounting, Auditing, Tax & Consulting NewsJanuary 11, 20190 comments

Each new tax year brings with it a listing of tax payment and filing deadlines, as well as some changes with respect to tax planning strategies. Some of the more significant dates and changes for individual taxpayers for 2019 are listed below. RRSP deduction limit increased The ...

Owner/Managers: Are You Ready for the Tax Changes?

By Jones & O'Connell LLPCommentaryJuly 20, 20180 comments

Right around this time a year ago, we received the somewhat unexpected private company income tax proposals from our Federal Finance Department. While they had hinted that these changes were coming, the form of these changes was a big surprise to many private company business owners ...