ESA Tax Services
1560 Howard ave N8X 3t4 Windsor, ON, Canada

your #success is our #mission with a Professional, Affordable and Convenient services #Accounting #Bookkeeping ,#TAX ,#WSIB #Payroll , Government Remittances ...,Year End #Financial Statements , Business Planning , #CRA ,#personal , small #business & #Corporate #IncomeTax for fast & reliable service give us a call at 519-796-2886 [email protected] 1560 Howard ave Windsor Ontario See more

#Tax #season is here! feel free to contact us anytime! 519-796-2886 [email protected]

We invite you for a free Tax & Accounting initial consultation . On-Site & Of-Site Services Available! 519-796-2886 [email protected] ... #BUSINESS #BOOKKEEPING #CRA #HST #WSIB #PAYROLL #T4 #T4_SUMMARIES #ROE #RECORD_OF_EMPLOYMENT

When is your 2017 tax return due? Most income tax and benefit returns are due on or before April 30, 2018. Self-employed individuals and their spouse or common-law partner have until June 15, 2018 to file their return. However, any balance owing for 2017 must be paid on or before April 30, 2018 to avoid interest.... If in 2017, you or your spouse or common-law partner carried on a business whose expenditures are mainly for a tax shelter, you have to send in your return no later than April 30. Deceased persons If you need to file a tax return for someone who has died in 2017, the due date for their return will depend on the date of death and whether the person owned a business in 2017.

Contact us to book your appointment 519-796-2886 [email protected]

for fast & reliable services give us a call at 519-796-2886 [email protected] #Accounting #Bookkeeping ,#TAX ,#WSIB #Payroll , Government Remittances ,Year End #Financial Statements , Business Planning , #CRA ,#personal , small #business & #Corporate #IncomeTax

your #success is our #mission with a Professional, Affordable and Convenient services , #Bookkeeping , #Payroll , Government Remittances ,Year End , Financial Statements , Business Planning , personal , small business & Corporate #Income #Tax for fast & reliable service give us a call at 519-796-2886

We are specialized in providing the following services : Personal Tax Return , Self Employed, Sole Proprietorship, Partner Ship, None Resident , International Students, Tax Adjustment for prior years & Corporate Tax Return . Contact us to book your appointment, 519_796_2886 [email protected]... 1560 Howard ave Windsor Ontario See more

Call to book your appointment 519-796-2886

Canadians will ring in 2017 with some tax changes

Share with your Newcomers family & friends! #Income #Tax #Newcomers

RRSP Home Buyers Plan (HBP) The Home Buyers Plan allows you to borrow funds from your RRSP to buy or build a qualifying home, if :... 1- you or your spouse or common-law partner have not owned a home which you occupied as your principal residence during the four years preceding the withdrawal for the Home Buyers Plan 2- you are buying or building a home for a related disabled person 3- You must buy or build the qualifying home by October 1 of the year after the year of withdrawal 4- your intent to occupy the home as your principal residence no later than one year after building or purchasing The maximum amount that can be borrowed was increased to $25,000 by the Federal 2009 Budget, which also announced a new First-Time Home Buyers Tax Credit. Note 1- that your RRSP contributions must remain in the RRSP for at least 90 days before you can withdraw them under the Home Buyers Plan 2- Income tax will not be deducted from the amount withdrawn 3- The funds must be repaid over a maximum of 15 years, starting the second year following the year in which they are withdrawn 4- Each year that a repayment is due but not paid, the amount due (1/15th of the amount borrowed) will be included in taxable income. Qualifying home 1-A housing unit located in Canada 2- A share of the capital stock of a cooperative housing corporation, the holder of which is entitled to possession of a housing unit located in Canada

-RRSP (Registered Retirement Savings Plan) is a registered savings or investment account which allows you to defer paying tax on funds deposited to it Income earned in an RRSP is not taxable while it remains in the RRSP, including interest, dividends, and capital gains, so can grow tax free until the money is withdrawn There may be tax withheld from dividends received from some foreign investments, but not from dividends received from US corporations... - Funds can be withdrawn from an RRSP at any time, but all withdrawal amounts must be included in taxable income Funds can remain in an RRSP until the year the taxpayer turns 71, at which time the funds must be withdrawn, or converted into a Registered Retirement Income Fund (RRIF),

Non-Taxable Income 1- Canada child tax benefit payments and related provincial and territorial child benefits and credits 2- disability insurance 3- lottery winnings... 4- GST/HST Credits income are not taxable, but must still be reported on the income tax return 1- social assistance payments 2- workers compensation benefits from T5007 slip 3- net federal supplements from T4A(OAS) slip

Ontario Tax Credits A variety of Ontario Tax Credits may be available to you when you file your return. There are two types of credits Non-refundable tax credits... Non-refundable tax credits help reduce or eliminate the amount of Ontario personal income tax you owe in certain circumstances e.g., if you have a disability or support an eligible dependent These credits are used to reduce your Ontario personal income tax, but if you owe no tax they are not refunded. Many Ontario non-refundable tax credits are similar to federal non-refundable tax credits, although the amounts may differ (e.g., adoption tax credit, disability tax credit, and caregiver tax credit The rules for claiming these credits are the same as the rules for the federal tax credits. You claim the non-refundable tax credits on form ON428. Refundable tax credits You can claim refundable tax credits regardless of the amount of Ontario income tax you owe. Credits claimed on form ON479 e.g. the Ontario political contribution tax credit and the Healthy Homes Renovation Tax Credit) may reduce the amount of income tax you owe or be paid as a refund when your return is assessed. Other refundable credits are paid separately after your tax return is assessed. Three refundable tax credits the Ontario Sales Tax Credit, the Ontario Energy and Property Tax Credit and the Northern Ontario Energy Credit) are combined into a single payment called the Ontario Trillium Benefit. These credits are intended to provide relief to people with low- to moderate-incomes for their sales and property taxes or higher energy costs in Northern Ontario. Senior homeowners may also be eligible for the Ontario Seniors Homeowners Property Tax Grant that helps low- to moderate-income seniors with their property taxes. You claim the Ontario Trillium Benefit and the Ontario Senior Homeowners Property Tax Grant on Form ON-BEN.

Calculating the tax Ontario personal income tax is calculated separately from your federal income tax. There are five Ontario income tax brackets and five corresponding tax rates.

Personal Income Tax Ontario personal income tax is an annual tax collected from individuals who are Ontario residents on the last day of the tax year or have income earned in Ontario for the tax year. Ontario personal income tax includes the Ontario Health Premium. The Canada Revenue Agency administers Ontarios personal income tax.

Northern Ontario Energy Credit The amount is based on your adjusted family net income, which is calculated based on amounts reported on your 2016 personal income tax and benefit return (return). Single People... If your adjusted family net income is: $39,806 or less, you will receive $148 greater than $39,806, the amount you receive will be reduced by one per cent of your income over $39,806 greater than $54,606, you do not qualify for this credit. Families If your adjusted family net income is: $51,179 or less, you will receive $227 greater than $51,179, the amount you receive will be reduced by one per cent of your income over $51,179 greater than $73,879, you do not qualify for this credit

Ontario Trillium Benefit To get the Ontario Trillium Benefit You need to file your personal income tax and benefit return, even if you dont have any income to report... The Ontario Trillium Benefit combines the following: Ontario Sales Tax Credit Ontario Energy and Property Tax Credit, and Northern Ontario Energy Credit. 1- Ontario Sales Tax This credit helps low- to moderate-income individuals with the sales tax they pay For the 2017 benefit year, the maximum amount you can get is $296. You may also receive an additional credit of up to $296 for : your spouse or common-law partner, and each dependent child who is under 19 years of age at the beginning of the payment month. These amounts are adjusted for inflation each year. 2-Ontario Energy and Property Tax Credit Do I qualify? You may qualify for the credit if you: 1- are a resident of Ontario at the beginning of the payment month, and 2- are 19 years of age or older, or 3- have or previously had a spouse or common-law partner, or 4-are a parent who lives or previously lived with your child. 3-Northern Ontario Energy Credit This credit helps Northern Ontario residents with the higher energy costs they face living in the north. The credit is part of the Ontario Trillium Benefit. How much money could I receive? For the 2017 benefit year, single people can receive up to $148, and families (including single parents) can receive up to $227. These amounts are adjusted for inflation each year. Do I qualify? You may qualify for the 2017 credit if: 1- your principal residence on December 31, 2016 and at the beginning of the payment month is in Northern Ontario*, and 2- at the beginning of the payment month you are 18 years of age or older, or have or previously had a spouse or common-law partner, or are a parent who lives or previously lived with your child, and 3- for 2016, at least one of the following conditions applies: A- rent or property tax for your principal residence was paid by or for you, or B - you lived on a reserve and home energy costs were paid by or for you, or C - you lived in a public long-term care home and an amount for accommodation was paid by or for you. ((Northern Ontario means the districts of Algoma, Cochrane, Kenora, Manitoulin, Nipissing, Parry Sound, Rainy River, Sudbury, Thunder Bay or Timiskaming)).

RRSP contributions The deadline for RRSP contributions for the 2016 tax year is Wednesday, March 1, 2017

Personal Income Tax Return Due Date Self-employed individuals have until Thursday, June 15, 2017 to file their 2016 personal tax returns, but any amounts owing must still be paid by May 1st.

Personal Income Tax Return Due Date April 30th, 2017 as is any amount owing. Penalties and interest may be charged for late returns or late payments. - Because April 30, 2017 is a Sunday, the due date for 2016 tax returns is Monday, May 1, 2017