Archive for the ‘News’ Category

2016 personal tax checklists

Wednesday, March 8th, 2017
The 2016 personal tax season is now here and as such I have prepared various checklists and worksheets to aid in gathering the information necessary to prepare your personal tax returns. This year there are 2 versions of each checklist or worksheet ( Excel or PDF) so you can use whichever format works easier for you. These checklists are a guide to ensure you are paying the least amount of taxes possible. I recommend you review them to ensure you are not missing any deductions or claims on your return.
The tax checklists and worksheets can be found at this link.

2015 personal tax checklists

Tuesday, March 8th, 2016
The 2015 personal tax season is now here and as such I have prepared various checklists and worksheets to aid in gathering the information necessary to prepare your personal tax returns. This year there are 3 versions of each checklist or worksheet ( Excel, Google Sheets or PDF) so you can use whichever format works easier for you. These checklists are a guide to ensure you are paying the least amount of taxes possible. I recommend you review them to ensure you are not missing any deductions or claims on your return.
The tax checklists and worksheets can be found at this link.

2013 Personal tax checklists

Tuesday, March 4th, 2014

The 2013 personal tax season is now here and as such I have prepared various checklists and worksheets to aid in gathering the information necessary to prepare your personal tax returns. These checklists are a guide to ensure you are paying the least amount of taxes possible. I recommend you review them to ensure you are not missing any deductions or claims on your return.

The tax checklists can be found at this link.

Change in address announcement

Monday, April 22nd, 2013

Please be advised that effective April 22, 2013, the office address has changed to:
230 East Avenue, Suite 202
Kitchener ON N2H 1Z4

There are no changes to the phone or fax numbers.

Please take note of the change and direct all future correspondences to the new location.

2012 Personal tax checklists

Friday, March 8th, 2013

The 2012 personal tax season is now here and as such I have prepared various checklists to aid in gathering the information necessary to prepare your personal tax returns. These checklists are a guide to ensure you are paying the least amount of taxes possible. I recommend you review them to ensure you are not missing any deductions or claims on your return.

The tax checklists can be found at this link.

2011 Personal tax checklists

Monday, March 5th, 2012

The 2011 personal tax season is now here and as such I have prepared various checklists to aid in gathering the information necessary to prepare your personal tax returns. These checklists are a guide to ensure you are paying the least amount of taxes possible. I recommend you review them to ensure you are not missing any deductions or claims on your return.

The tax checklists can be found at this link.

Announcement of change in address

Friday, December 16th, 2011

Please be advised that effective December 16, 2011, the office address has changed to:
7-1120 Victoria Street North
Kitchener ON N2B 3T2

There are no changes to the phone or fax numbers.

Please take note of the change and direct all future correspondences to the new location.

2011 personal year end tax tips

Friday, December 9th, 2011

As the end of 2011 is fast approaching, here are some personal tax tips I think you should consider:

1. Some deductible expenses and credits can only be claimed if they are ‘paid’ in the year. For example, if you receive an invoice for a dentist bill incurred in November 2011, but didn’t pay it until February 2012, then this dentist bill may be claimed on your 2012 tax return, not your 2011 tax return. Here are some items that should be paid before the year end in order to get the tax deduction or credit – interest expense, safety deposit box fees, investment management fees, medical expenses, tuition fees, donations, child fitness programmes and transit passes.

2. Donations are a good way to give back to society and get a tax break. If you hold publicly traded stocks with an inherent capital gain, consider donating them to your favourite charity. The capital gain will be non-taxable to you and you will receive a full donation receipt for the fair value of the shares. I mention donations in point 1, but one point out I want to emphasize is to watch out for the donation schemes that promise a large donation receipt for a low contribution. This is the time of the year when these schemes get heavily promoted, so be wary if a promoter approaches you with these arrangements. Learn more here. You can also consider donating your publicly traded stocks

3. If you have a capital gain in the year, you may want to review your portfolio for the stocks that are in a capital loss position in order to realize the loss to offset the gain to save taxes. In order to claim the loss, the trade must be executed prior to December 23 if the stock is on a Canadian exchange. However, you should discuss first with your investment adviser if selling the stock is a prudent move.

4. Contribute to your kids registered education savings plan in order to receive the federal government grant.  The federal government will provide a grant up to $500 if you contribute a maximum of $2,500 per child. This is a great way to get free money and save for your children’s education so why not take advantage of this.

5. Contribute to your tax-free savings account if you have not utilized your maximum room.  Even though the TFSA does not give you a tax deduction or save you taxes today, I think it will prove more useful in the long run compared to an RRSP.

Name change announcement

Tuesday, November 1st, 2011

I am pleased to announce that Ark Chartered Accountant will change it’s name to Ark Accounting & Tax Professional Corporation effective November 1, 2011.

This name change is a result of a change in the business structure.

Even though I am changing the name, I want to stress that all services, support and commitment provided to customers and suppliers will remain unchanged. The only effect to the name change is that all correspondences, marketing materials and invoices will be updated with the new name.

2010 Personal tax checklists

Monday, March 7th, 2011

The 2010 personal tax season is now here and as such I have prepared various checklists to aid in gathering the information necessary to prepare your personal tax returns. These checklists are a guide to ensure you are paying the least amount of taxes possible. I recommend you review them to ensure you are not missing any deductions or claims on your return.

The tax checklists can be found at this link.