Wilton White Hill LLP
3483 Portage Rd Suite 10 L2J 2K5 Niagara Falls, ON, Canada

Justin Trudeau expected to announce reduction to small business tax rate. As reported on Global News, Justin Trudeau is expected to reduce the small business tax rate from 10.5 percent to 9 percent. Mr. Trudeau is also expected to make changes to his proposed tax reform as it relates to income sprinkling and companies that retain profits inside the corporation. https://globalnews.ca/n/3805030/justin-trudeau-tax-reforms/

New for your 2016 tax return: Starting this year, for your 2016 tax return, you will need to report the sale of your home even if it was your principal residence. For the sale of a principal residence in 2016 or later tax years, CRA will only allow the principal residence exemption if you report the sale and designation of principal residence in your income tax return. If you forget to report the sale, you can amend your tax return for that year but the following penalty m...ay apply: A penalty is the lesser of the following amounts: $8,000; or $100 for each complete month from the original due date to the date your request was made in a form satisfactory to the CRA. For more information see the following link: http://www.cra-arc.gc.ca/gncy/bdgt/2016/qa11-eng.html

The Auditor General Michael Ferguson said, among other things, that Canada Revenue is taking far too long to resolve tax issues. Of the three previous Notice of Objections I have filed, two took 11 months to resolve and one took 13 months. http://www.cbc.ca//politics/cra-tax-objections-ag-1.3872583

Our Niagara Falls office is currently looking to hire an experienced bookkeeper and payroll technician. The successful candidate must have experience with the following: QuickBooks Simply Accounting Filing government submissions such as HST returns, source ... deductions remittances and WSIB forms Our firm is also seeking an individual to complete personal tax returns. The successful candidate must have experience with the following: Profile tax software or equivalent Ability to prepare tax returns with investment, business and rental schedules Knowledge of QuickBooks would be an asset Please email your résumé to [email protected]