Greg Kaniewski
Greg Kaniewski graduated from the University of British Columbia in 2007 and obtained his CA designation in 2010 with the largest regional accounting firm. During his tenure, Greg obtained extensive experience in auditing and assurance engagements, corporate and personal tax and estate planning, non-profit organizations and owner-managed businesses.
Tax rates going up and new brackets for 2014!
2 ways you could be affected in 2014.
Tax rate on dividends is going up. If you have investements that produce income by way of dividends or if you receive profit sharing from a Company by way of dividends you will be affected. Depending on your tax bracket - if could cost you 4% in 2014. Do you own a company? Might be wise to take a little extra out before the end of 2013!
In BC there is a new "temporary" tax bracket coming in for 2014 and 2015 for individuals making over $150,000. Your new tax bracket is 45.8%. More important than ever to get your net income below the $150,000 for at least the next 2 years. Talk to your accountant.
Need help organizing your 2012 taxes?
Make sure you have all your slips and information ready for your 2012 tax filing. Download my attached document to help you. (PDF format)
PST is coming...How can I save money?
If your business is eligible to claim HST input tax credits, I recommend that any large purchases you are planning are made before April 1, 2013.
This will allow you to claim the entire 12% as an input tax credit, where after April 1, 2013 only the 5% GST can be claimed.
Return to PST
BC is returning to PST April 1, 2013. Do you need to register? Do you need an exemption number? How is it going to be different from HST and the old PST pre July 1, 2010?
Greg Kaniewski, Chartered Accountant, Serving the Lower Mainland
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