October 17, 2017
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Last Week
Oct 4, 2017 – October TO DO List
- September payroll liabilities due October 15. Since this date falls on a Sunday, the due date shifts to the next business day which is Monday October 16.
- Continue working on the 2018 budget.
- If the 2018 offering envelopes have not arrived yet, check to make sure they have been ordered and determine their arrival date.
Sep 1, 2017 – 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 2018 budget for those with a December 31 year end.
- Ensure 2018 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.
Jul 24, 2017 – CRA - New Website and Address
CRA services and information are now on a new website which has moved to Canada.ca. Since URL re-directs from the CRA website are only temporary you should update your bookmarks and address information.
The new links are:
(1) CRA - https://www.canada.ca/en/revenue-agency.html
(2) Charities Directorate - https://www.canada.ca/en/services/taxes/charities.html, and
You can also access them through these links:
Feb 1, 2017 – Business Use of Home Expenses
This news item will be of particular interest to treasurers, bookkeepers and accountants who operate a business as a sole proprietor or a partner in a partnership. It does not apply to employees.
The Canada Revenue Agency published today a new Income Tax Folio Chapter that deals with the conditions and restrictions of business expense deductions relating to the use of an office or other work space in an individual's home.
CRA is now accepting suggestions about the structure or content of this Chapter or the folios in general and the comment period will end on May 1, 2017.
Full particulars may be viewed on the CRA website at: S4-F2-C2, Business Use of Home Expenses.
Jan 3, 2017 – Automobile Deductions and Expenses for 2017
Finance Minister Bill Morneau announced on December 30, 2016 the income tax deduction limits and expense benefit rates that will apply in 2017 when using an automobile for business purposes.
The limit on the deduction of tax-exempt allowances paid by employers to employees using their personal vehicle for business purposes during 2017 will remain at 54 cents per kilometre for the first 5,000 kilometres driven and 48 cents for each additional kilometre.
The rates for the Northwest Territories, Nunavut and Yukon are traditionally set 4 cents higher and they will remain at 58 cents per kilometre for the first 5,000 kilometres driven and 52 cents for each additional kilometre.
While the above information will be sufficient for most churches, additional details for specific situations including standby charges for the personal use of an employer provided vehicle, capital cost allowance, leasing costs, interest costs, etc. may be viewed on the Department of Finance Canada website.
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