Drache admin

December 2007 Year End Newsletter

   Another Year Draws to a Close
   T’is the Season
   Les cadeaux aux employés sont-ils imposables?
   Non Taxable Gifts to Employees

Another Year Draws to a Close - Charles Rotenberg
Another year is coming to a close and everyone except the tax lawyers and accountants are starting to relax and get into the holiday mood. We look back and remember, rightly or wrongly, that last year at this time was much milder and with no snow. There are some things that should be considered from a tax point of view as the year winds down. Although most people think of March and April as "tax season", the fact is that if steps are not taken in December, the accountants can't report on them in April.
More...

T’is the Season - Charles Rotenberg
December is always a time for reviewing your tax situation and, except for RRSP contributions, is the last chance for minimizing your current year’s taxes With the ongoing reductions in tax rates some of the traditional year end planning takes on additional significance.
More...

Les cadeaux aux employés sont-ils imposables? - Sebastien Desmarais
En cette période du temps des Fêtes, certains employeurs dans leur bonté envers leurs employés porteront un geste de générosité en distribuant un « bonus de Noël ». L’Agence du Revenu du Canada prête une attention particulière à ces boni et donc, il est important d’être conscient du traitement fiscal qu’est attribué à ces « boni de Noël ».
More...

Non Taxable Gifts to Employees - Charles Rotenberg
The holiday season is right around the corner, and for many taxpayers that means they can expect some form of a Christmas bonus from their employers. But how is a Christmas bonus treated for tax purposes? There is a difference in treatment between cash and non-cash gifts and/or awards. It is a well established practice of the CRA not to require taxpayers to include as taxable income certain “small gifts” given to them by their employers. Currently “small gifts” are considered to be 2 non-cash awards and 2 non-cash gifts per year. This allows an employer to give any non-cash gift for special occasions such as holidays, birthdays or marriages. Non-cash awards would be given for some form of employment related accomplishment.
More...

You are receiving this e-mail because you have subscribed to one of our Drache LLP newsletters. You have complete control to review, update your newsletter options or unsubscribe at your discretion. If this email was forwarded to you, we invite you to subscribe to this newsletter or others that appeal to you. Your subscription information is private, please feel free to review our privacy policy.