August 22, 2019
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General
Aug 1, 2019 – August TO DO List
July payroll liabilities due August 15.
Jul 2, 2019 – July TO DO List
- June payroll liabilities due July 15.
- If your fiscal year end is December 31 and if you missed the June 30 submission date for your Annual Charities Return Form T3010, make it a priority to submit it immediately. Failure to submit the return could result in cancellation of your charitable status.
Jun 5, 2019 – June TO DO List
- May payroll liabilities due June 15. Since this date falls on a Saturday, the due date shifts to the next business day which is Monday June 17.
- The deadline for the Annual Registered Charity Information Return, Form T3010, is June 30th for those with a fiscal year end of December 31.
June 30th is not the due date for submitting Form T3010 but is the due date by which it must be in the hands of CRA. Therefore you are advised to mail it at least a few days before June 30th.
Dec 28, 2018 – Automobile Deductions and Expenses for 2019
The Department of Finance Canada announced on December 27, 2018 the income tax deduction limits and expense benefit rates that will apply in 2019 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 2019 will be increased by 3 cents to 58 cents per kilometre for the first 5,000 kilometres driven and to 52 cents for each additional kilometre.
The rates for the Northwest Territories, Nunavut and Yukon are traditionally set 4 cents higher and they will increase to 62 cents per kilometre for the first 5,000 kilometres driven and 56 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.
Nov 5, 2018 – The Canada Pension Plan Enhancement
On October 31, 2018 the Canada Revenue Agency released a document outlining what we can expect for the future of the Canada Pension Plan and the expected rate increases for contributions from employees and employers. The rate of 4.95% has been constant for several years and on Januray 1, 2019 we will see an increase of 0.15% to bring the new rate to 5.1%. There will be additional increases each year for at least the next seven years.
Full particulars, including the future rate increases, may be viewed on the CRA website at: The Canada Pension Plan Enhancement.
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