November 23, 2020
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This Week
Nov 20, 2020 – November TO DO List
- October payroll liabilities due November 15.
- Pastors and other clergy who receive the Clergy Residence Deduction must complete the "Request to Reduce Tax Deductions at Source for Years(s)" Form T1213 if they wish to have their 2020 tax deductions reduced at source. It normally requires 6-8 weeks for CRA to review each application and grant permission, therefore, the form should be submitted in early November in order for approval to arrive before the first payday in January. Form T1213 can be located at the following link: T1213 Request to Reduce Tax Deductions at Source for Year(s)
- Prepare 2020 offering envelopes for distribution in December. If they have not yet arrived, determine where they are and place a rush on the order. If you are looking for a great supplier for offering envelopes, see the recommendation for the NCS Church Envelope Company on our Membership (Preferred Services) Page.
- Ensure offering records are in order and receipts are ready for completing 2019 donation receipts in January.
- Continue working on the 2020 budget with a goal of having the final draft completed by month end. This will allow time for other year end duties during December and January.
- Begin preparation for 2019 financial statements and the year-end audit or review.
(NOTE - the last two items are for those who have a calendar year fiscal year)
Oct 8, 2020 – October TO DO List
- September payroll liabilities due October 15.
- Continue working on the 2021 budget.
- If the 2021 offering envelopes have not arrived yet, check to make sure they have been ordered and determine their arrival date.
Sep 1, 2020 – September TO DO List
- August payroll liabilities due September 15.
- Pay all bills from summer events.
- Plan timetable for working on the first draft of the 2021 budget for those with a December 31 year end.
- Ensure 2021 offering envelopes have been ordered. If you are looking for a great supplier for offering envelopes, see the recommendation for the NCS Church Envelope Company on our Membership (Preferred Services) page.
Aug 1, 2020 – August TO DO List
July payroll liabilities due August 15. Since this date falls on a Saturday, the due date shifts to the next business day which is Monday August 17.
May 9, 2020 – Extension of the Canada Emergency Wage Subsidy (CEWS)
Originally the program was supposed to end on June 06 but yesterday Prime Minister Trudeau announced that it will be extended to past June into at least July. At this time there are three qualifying periods as they have not announced the dates for the extended periods. Organizations applying now will be able to apply for the first two periods.
March 15 - April 11
April 12 - May 09
May 10 - June 06.
The six steps for the application process can be accessed by clicking on the second link listed at the top of the Canada Revenue Agency website.
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