   GGFL NEWSLETTER - SUMMER 2010New Simplified Logbook Requirements for Claiming Motor Vehicle ExpensesAn employee or business owner who is ordinarily required to work away from their normal place of business is allowed to claim the costs of operations of their motor vehicle. The costs can be claimed even if the employee receives an allowance or a reimbursement on a per-kilometer basis. There is a statutory provision that the employer must provide the employee a completed Declaration of Conditions of Employment (Form T2200) that indicates that the employee is required to incur automobile expenses to carry out the duties of their employment. GET THE FULL STORYAre You Ready for GAAP for Private Enterprises?Over the next two years, all Canadian non-publically accountable businesses that require audits or review engagements and that do not adopt International Financial Reporting Standards (IFRS) will be required to transition to Canadian generally accepted accounting principles for private enterprises ( Be Wary of Your TFSA Contribution RoomYour Tax-Free Savings Account (TFSA) contribution room, at any point in time, is made up of: Changes to the Canada Pension PlanThere are a number of changes being made to the Canada Pension Plan (CPP) beginning in 2011, including: Removal of the Work Cessation Test, Increase in the General Low Earnings Drop-out, Improved Pension Coverage, and Early and Late CPP Beneficiaries. (Click here for more information on the CPP changes http://www.fin.gc.ca/n08/data/09-051_1-eng.asp.) GET THE FULL STORYPRINT VERSIONView our Past Issues |
Home | About Us | Our Team | Our Services | Employment | Resource Centre | Contact Us ©2008 Ginsberg Gluzman Fage & Levitz, LLP. All Rights Reserved. |
