FINANCIAL by Gabriele Banka MONEY on the MOVE Some things to look forward to in 2012
™ 22
S N O W B I
R D S
&
R V T R A V E L E R S
Banka & Company Inc.
CERTIFIED GENERAL ACCOUNTANT Gabriele Banka, DAcct., CGA, BBA Appl. Simply Accounting Certified
$ Are you paying too much tax and looking to find legitimate ways of reducing this tax before it’s too late to act?
$ Looking for ways to improve your cash flow? $ Thinking about obtaining financing and want to know if you will be successful before wasting time with lengthy and costly applications?
$ Need your taxes done by a certified professional?
If you have answered YES to any of these questions, then you should definitely give us a call!
#105-565 Bernard Avenue Kelowna, BC V1Y 8R4 Tel: 250-763-4528 | Fax: 250-763-4529
www.bankaco.com |
gbanka@bankaco.com
Welcome to 2012!! This is a leap year which has some effect on some tax issues. For example, if you are required to file a trust return (usually 90 days after the end of the year); it will be due on March 30, 2012 instead of March 31st. Also the RRSP contribution deadline is February 29, 2012 this year instead of March 1, 2012. Although basic cosmetic procedures are not
deductible, there are some exceptions such as endovenous laser therapy for varicose veins and compression stockings and treatment of severe acne that was disfiguring. Farming operations may be eligible for the scientific research and experimental development credit if farming activities involve the development or improvement of products and processes. Some activities that might qualify are plant breeding and seed industry, greenhouses and farming, equipment modification and better environmental practices. Draft legislative proposals were approved by the
CRA for a new pension plan called Pooled Registered Pension Plans (PRPP). These are a low cost defined contribution pension plan available to employers, employees and self employed individuals that will be managed by a PRPP administrator and investments in Continued on page 35
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64