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What is A Payroll Audit? A payroll audit is a review of the accuracy of a company’s payroll processes. Payroll audits are conducted annually to ensure that a company’s payroll process remains current and legally compliant. Companies may be chosen by the CRA for an audit if the information provided appears inaccurate or misrepresented. However,
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The Canada Revenue Agency (CRA) annually sends audit letters to selected taxpayers. Letters sent in early 2017 will mark the eighth annual audit letter campaign initiated by CRA. This year the CRA will send approximately 30,000 “intent to audit” letters to individual taxpayers and business owners who continually report business and rental losses. They are
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For over 20 years, b current has brought artists and actors of colour to centre stage. The Canadian production company has supported diversity in community theatre since 1991. With an award-winning training program, b current fosters nationally and internationally acclaimed artists. These artists then go on to perform and create new works that are rooted in
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Hogg, Shain & Scheck arranged a night out with staff to enjoy an entertaining night of arts and culture at the new performing arts facility, Streetcar Crowsnest. Streetcar Crowsnest is the first professional arts facility in the east end of Toronto. The venue can support many different types of events including community and corporate functions,
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Hogg, Shain & Scheck (HSS) are extremely pleased to announce that they have won in the Best Tax Services – Toronto sector, of the 2017 Acquisition International Accounting, Audit and Tax Awards. The awards put the spotlight on leaders within their fields and are nominated by internal Acquisition International experts, but also by clients and
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Schools’ out for Lisa Lucchese, who recently completed her CPA Ontario CFE over a three day examination period, but that doesn’t mean the learning stops there, as Lisa reminds us, “It does not mark the end of learning as that is a lifelong process in this career!” After a year long journey with CPA Professional
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The Ted Rogers School of Management at Ryerson was honoured to have alumnus Ed Scheck as keynote speaker for the second TRSM Alumni Association Roundtable. On Saturday January 14th, attendees started the afternoon with a lunch before keynote speaker Ed Scheck took to the podium. Ed delivered his best career advice on how to get
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Hogg, Shain & Scheck (HSS) have always believed that education plays a fundamental role in any successful business career, so in conjunction with the Ted Rogers School of Management, HSS actively encouraged and celebrated students for their entrepreneurial spirit through scholarships and awards. On November 24, 2016, the Ted Rogers School of Business Management, Accounting
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Important Deadlines in 2017: February 28th: T4, T4A, T5 Filing Deadline March 1st: Last day for 2016 RRSP contributions March 31st: T3 Trust Return Filing Deadline May 1st: Personal Tax Filing Deadline May 1st: Payment Deadline for HST and/or personal taxes owing June 15th: Sole Proprietor Tax Return Filing Deadline
What Construction Contractors Need To Know About GST/HST According to Construction Accounting Best Practices, every contractor whose earnings exceed $30,000 in one single quarter or over four consecutive quarters, must register for a General Services Tax (GST) / Harmonized Sales Tax (HST) number in order to collect GST/HST on behalf of the Canadian government. These collected taxes are
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Review asset mix of your non-registered portfolio. Interest income is the highest taxed of your investment income. Consider restructuring your portfolio so that interest income is earned in a registered plan (RRSP, RRIF, TFSA) where it is tax sheltered. Are you carrying debt that is not tax deductible? Consider reducing this debt with non-registered assets.
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RRSP Contributions In order to obtain a deduction on your 2016 personal income tax return, you must contribute to your RRSP on or before March 1, 2017. As always, consider contributing earlier so that your money is growing tax free as soon as possible. Spousal Contributions Contributions made to a spousal plan before December 31
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