Canada’s Economic Response Plan to COVID-19

Canada’s Economic Response Plan to COVID-19

During this Global pandemic, the Government of Canada has announced several action steps to help improve not only the health and safety of Canadians but also decisive action steps to help Canadians facing financial problems of the result of COVID-19. The Prime Minister has announced several action steps to help both Canadian workers and businesses to help stabilize the economy. Please download and read the document file of the action steps that the Canadian government has taken.

If you have any questions or would like to inquire if you are eligible for any of these action steps, please do not hesitate to contact Versatile Accounting. During these tough times, we are here to help and guide you. Together, we will get through this.

Click here to download Canada’s Economic Respons Plan To COVID-19

Versatile Accounting – Northwest Office:

Address: 4409 Bowness Rd NW
Calgary, AB T3B 0A7, Canada
Phone: 403-203-2263
Fax: 403-202-5488
Hours: Mon, Tue, Thur: 8:30 am to 4:30 pm
Sat & Sun: Closed

Versatile Accounting – South Office:

Address: 5940 Macleod Trail SW #500
Calgary, AB T2H 2G4, Canada
Phone: 587-952-5187
Hours: Wed & Fri: 8:30 am to 4:30 pm
Sat & Sun: Closed

Click here to download Canada’s Economic Respons Plan To COVID-19

Personal Income Tax Checklist

Personal Income Tax Checklist

Download this quick and easy personal income tax checklist to save you time and ensure you have everything you need for taxes. Following the checklist will give you confidence that you have all the required receipts and income records to claim deductions and reduce taxes.

Please provide the necessary slips or information to one of our offices in person or by mail. If you have any questions, we are here to help, contact us at any time.

Click Here To Download Personal Income Tax Checklist Updated for 2019/2020 Year

Versatile AccountingNorthwest Office

Address: 4409 Bowness Rd NW
Calgary, AB T3B 0A7, Canada
Phone: 403-203-2263
Fax: 403-202-5488
Hours: Mon, Tue, Thur: 8:30 am to 4:30 pm
Sat & Sun: Closed

Versatile Accounting – Southwest Office

Address: 5940 Macleod Trail SW #500
Calgary, AB T2H 2G4, Canada
Phone: 587-952-5187
Hours: Wed & Fri: 8:30 am to 4:30 pm
Sat & Sun: Closed

Click Here To Download Personal Income Tax Checklist Updated for 2019/2020 Year

2019 Federal Budget Summary

Premium Personal Tax Services in Calgary!

Versatile Accounting has obtained a 15 page PDF document from The CPA which highlights all the main points of the 2019 federal budget. This PDF document goes through the following.

INTRODUCTION

PERSONAL INCOME TAX MEASURES

Canada Training Benefit

  • Canada Training Credit
    • Eligible Tuition and Other Fees
  • EI Training Support Benefit

Making Canada Student Loans More Affordable

  • Lower Interest Rates
  • New Interest-Free Grace Period

Improving the Economic Security of Low-Income Seniors

Introducing the First-Time Home Buyer Incentive

Modernizing the Home Buyers’ Plan

  • Withdrawal Limit
  • Breakdown of a Marriage or Common-Law Partnership

Change in Use Rules for Multi-Unit Residential Properties

Permitting Additional Types of Annuities under Registered Plans

  • Advanced Life Deferred Annuities
    • Qualifying plans
    • Limits
    • Tax treatment on death
  • Variable Payment Life Annuities
    • Annuities fund
    • Tax treatment on death

Employee Stock Options

Electronic Delivery of Requirements for Information

Tax Measures for Kinship Care Providers

  • Canada Workers Benefit
  • Tax Treatment of Financial Assistance Payments

Improvements to the Registered Disability Savings Plan

Donations of Cultural Property

Medical Expense Tax Credit

Contributions to a Specified Multi-Employer Plan for Older Members

Pensionable Service under an Individual Pension Plan

Mutual Funds: Allocation to Redeemers Methodology

  • Deferral
  • Character Conversion

Carrying on Business in a Tax-Free Savings Account

Making Zero-Emission Vehicles More Affordable

Personal Income Tax Credit for Digital Subscriptions

BUSINESS INCOME TAX MEASURES

Support for Canadian Journalism

  • Qualified Canadian Journalism Organizations
  • Qualified Donee Status
  • Refundable Labour Tax Credit

Business Investment in Zero-Emission Vehicles

  • Application and Phase-Out

Inter generational Business Transfers

Small Business Deduction – Farming and Fishing

Scientific Research and Experimental Development Program

Canadian-Belgian Co-productions – Canadian Film or Video Production Tax Credit

Character Conversion Transactions

Canada Training Credit

INTERNATIONAL TAXATION

Transfer Pricing Measures

  • Order of Application of the Transfer Pricing Rules
  • Applicable Reassessment Period

Foreign Affiliate Dumping

Cross-Border Share Lending Arrangements

  • Canadian Shares
  • Foreign Shares

SALES AND EXCISE TAX MEASURES

GST/HST Health Measures

  • Human Ova and In vitro Embryos
  • Foot Care Devices Supplied on the Order of a Podiatrist or Chiropodist
  • Multidisciplinary Health Care Services

Cannabis Taxation

  • New Classes of Cannabis Products

NOTICE TO USERS

The reproduction of the contents of this Federal budget summary is authorized without restriction.

As a Calgary accounting firm, we want to bring awareness and knowledge to our clients. So, go ahead and download this document to read at your leisure.

Click Here To Download PDF