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Dairy Direct Payment Program & Tax Planning
Dairy farmers will receive $315/kg of their August 31/19 owned quota. The payment may be received in 2019 if applied for by December 13/19. Payments, whether chosen in 2019 or 2020, are added to taxable income and extra tax planning may be beneficial.
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Fall 2019 Newsletter
Accounting Human Resources Solutions Wealth Management Company News Personal Tax Matters – Year End Reminders 1. Registered Retired Savings Account (RRSP) Have you maximized your RRSP contributions? You have until February 29, 2020, to make your RRSP contribution for 2019. If you turned 71 in 2019, you need to convert your RRSP to a Registered…
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Fall 2019 Agriculture Matters
Climate Action Incentive Fund The Climate Action Incentive Fund (CAIF) is a new Environment and Climate Change Canada program funded with proceeds of the federal carbon pollution pricing system. The CAIF has three funding streams SME funding will be offered in multiple rounds during 2019 and 2020. The current round application period has been open…
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Ward & Uptigrove becomes Living Wage certified
Ward & Uptigrove has been certified as a Living Wage Employer by United Way Perth-Huron and the Social Research & Planning Council in the champion category, proudly ensuring all our staff meet or exceed the wage needed to maintain basic living expenses in our region.
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Spring 2019 Newsletter
Accounting Human Resources Solutions Wealth Management Company News 2019 Tax Measures There are several measures that come into effect for the 2019 tax year. Here we highlight key changes. Changes to a Canadian-Controlled Private Corporation’s (CCPC) ability to receive a dividend refund: Investment income earned by a CCPC is subject to a permanent tax portion…
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Spring 2019 Agriculture Matters
Federal Budget Matters The Federal Budget was released in March 2019. The budget included funding for Canadian egg, dairy and poultry farmers as well as funding for the Quota Value Guarantee Program. Additional details for the funding have not yet been announced. The federal budget also announced changes to the Specified Corporate Income (SCI) rules…
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Tax Alert – 2019 Federal Budget Commentary
Finance Minister Bill Morneau released Budget 2019 on March 19, 2019. In brief, the 2019 Budget includes $22.8 billion in new spending over the next five years. The government expects revenues to steadily increase by nearly $60 billion in 2023 and projects program spending to increase by $40 billion that year. Debt payments are projected…
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Agriculture Alert -Exemption for April 1, 2019 Fuel Charge
The Federal Government will be charging a carbon tax through the Greenhouse Gas Pollution Act on all fuel sold in Ontario beginning April 1, 2019. The tax will be $0.0442/L on gas and $0.0537/L on diesel (light fuel oil). Ontario farmers can receive an exemption for eligible farming activity, such as machinery or farm vehicles,…
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Agriculture Alert – CAP Intake Announced
Canadian Agricultural Partnership (CAP) will be next accepting applications from producers and processors from March 22 until May 6. These are cost-shared programs delivered by provinces and territories on a 60:40 basis.
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2018 Tax Season: Common Myths
Many myths have developed over the years around the income tax system and the filing of tax returns. This tax season, let us highlight some common misunderstandings and clarify the truth.
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Agriculture Alert – DFIP Phase 2 Announced
Phase 2 of the Dairy Farmers Investment Program (“DFIP”) has been announced with the next intake period opening on January 7, 2019. The government has made some significant changes from Phase 1 of the program to try to make it more equitable.
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Year End 2018 Newsletter
Accounting Human Resources Solutions Wealth Management Company News 2018 Personal Taxes – What Should You Know? What is new? The income tax credits for attending a post-secondary education program have been further restricted. Only the federal tuition tax credit remains for the tuition cost component. The Federal education tax credit component that was based on…
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