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7:45-8:00 |
Registration and Coffee |
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8:00-9:00 |
Line-by-line Tax Update: What’s New in Personal Taxation?
At Department of Finance:
• Focus on Liberal Government Tax Changes
• Focus on Newcomers to Canada
At CRA: Shake out the Cobwebs
• 2015 T1 Tax Form Changes, Dark Horses & Tax Trivia Warm-up
• T1 Line-by-Line Tax Change Quiz |
Evelyn Jacks,
President, Knowledge Bureau,
MFA, DFA-Tax Services Specialist™
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9:00-10:15 |
Focus on Employees, Families & Students’ Income, Deductions and Schedule 1 Credits
• Registered pension plan deductions, past service contributions, RRSP contributions, planning optimal deduction, carry forward, SPP
• T778: Child care expenses
• T2209: Disability supports deduction
• T1M: Moving expenses
• T777 and TL2: Other employment expenses
• Canadian Forces personnel and police deduction
• Employee home relocation loan deduction
• Security options deductions
• T2222: Northern residents deductions
• GST/HST-370
• Schedule 1: Partial Canada employment amount, Public transit amount, Volunteer firefighters'/Emergency Services, Tuition, Education & Textbook, Student Loan Interest
• Family Credits: Kids Under/Over 18, Children’s Arts Amounts, Disability Amounts, Medical Expenses, Home renovations
• Refundable Credits: Working Income Tax Benefit & Advances, T626 Overseas employment tax credit, Fitness Tax Credit, Medical Supplement |
Walter Harder,
DFA-Tax Services Specialist™ |
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10:15-10:30 |
Focus on CRA Technology Changes with TaxCycle |
Marc Labrecque, VP National Sales |
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10:30-10:35 |
Introducing our Break Sponsors: Speed Interviews: Line-by-Line Links |
APATC &
Liberty Tax |
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10:35-10:50 |
Break |
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10:50-12:00 |
Focus on Retirees, Asset Transfers and Final Returns
• Pre-retirement: Marginal tax brackets and rates, severance, RRSP rollovers, RRSP contributions, RRIF withdrawals and re-contributions
• Disability: Worker’s Comp, Private Disability Payments, CPP Disability, Repayments
• Early retirement: Phased-in pensions, pension income splitting, GIS, CPP
• Retirement Issues: Severance, RRSP Deductions, Spousal RRSPs & Withdrawals, Income Layering, Income Splitting, Instalment planning, Foreign pensions, OAS, Deferral Options, Age Amount, Transfer of Age Amount , Clawback planning
• Tax Calculations: Schedule 1, 2 and 9:
• Age amount, Amounts transferred from spouse or common-law partner
• Amount for Infirm Adults, Caregiver Amounts
• Disability Benefits, Medical expenses for self, spouse and dependants
• Donations and gifts
• Asset transfers and disposition: Real Estate, Business Assets
• Death of a Taxpayer |
Walter Harder, DFA-Tax Services SpecialistTM |
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12:00-12:30 |
Focus on Electronic Privacy: How to evaluate if a cloud service provider is secure:Clients trust professionals to safeguard their sensitive information. Find out how to minimize the risk by learning about 5 fundamental security principles:
• Password management
• Encryption scheme for protecting data stored on their servers
• Reviewing their privacy policy and terms of service
• Assessing their data retention policy
• Inquiring about security reviews and any reported data breaches |
Bob Seeman,
MBA, JD
E-Courier
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12:30-1:00 |
LUNCH |
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1:00-1:30 |
Director’s Liability and Non-Arm’s Length Transfers: Understanding the CRA’s Ability to Collect Tax Debts from Third Parties The Income Tax Act & the Excise Tax Act allow the CRA to transfer the tax liability of a taxpayer onto third parties. This presentation will examine the current state of tax law when attributing liability onto directors of corporations and non-arm’s length persons like spouses. |
Farber Financial Group
James Bell Vancouver
Khalid Tariq Toronto |
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1:30-2:25 |
Income from Property & Investments
• Schedule 1: Detailed Tax Calculation
• T1206 – Tax on Split Income - Attribution – s.74.1(1) & s.74.1(2)
• Dividend Review: Eligible & Other than Eligible Dividends and Dividend Tax Credits, Other Dividends: Deemed, Stock, Capital Gains, Etc.
• Foreign Tax Credits: Forms T2036; T2209 and Section 20 deductions
• Schedule 3: Capital Gains and Losses - Income or Capital? T123 – Election on Disposition of Can. Securities
• T2017 – Reserve on Disposition
• T657 – Capital Gains Deduction
• T936 – Cumulative Net Investment Loss
• Allowable Business Investment Losses
• T1A – Request for Loss Carryback
• T1170 – Gains on Gifts of Certain Capital Properties
• T691 - Alternative Minimum Tax
• Schedule 4 – Audit-Proof Carrying Charges & Interest Expenses
• T1135 Filings – New Rules and Forms on Foreign Income Verification |
Alan Rowell, MFA, DFA-Tax Services Specialist™ |
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2:25-2:40 |
Focus on CRA Technology Changes with TaxCycle |
Marc Labrecque,
VP National Sales |
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2:40-2:45 |
Introducing our Break Sponsors: Tax Trivia: Focus on New Tax Changes |
APATC & Liberty Tax |
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2:45-3:00 |
BREAK |
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3:00-4:00 |
Focus on the Small Business Owner
• T2125 Statement of Business Income, T5013FIN Partnership Return
• Income Reporting, Inventory Reporting, GST/HST Reporting
• Mixed use: Auto, home office, entertainment, conferences & seminars
• CCA: acquisition, improvement, deemed & actual disposition, terminal loss, recapture, Proposed CEC Changes
• T2203: Multiple Jurisdictions, Payroll & Source Deductions
• From Proprietor to Corporation: s.85 Roll-overs, The Steps Required, Traps: Shareholder Loans – s.15(2), Imputed Interest, Effective Tax Rate Planning |
Alan Rowell, MFA, DFA-Tax Services Specialist™ |
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4:00-4:30 |
End-to-End Online Practice Management: Your Firm of the Future |
Scott Zandbergen
Intuit |
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4:30 |
Evaluation, Certification and Close |
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Help & Contact: 1 866 953 4769