Welcome to 2019
As we start off a new year, I'm not sure if we're going to be any better off than we were last year. We're facing a couple of elections this year that may dramitically change the landscape - not sure if that is for better or worse.
Some changes for 2019, the Federal small business rate drops by a full percentage point to 9%. This completes a promise made to us during the last election. CPP rates have gone up slightly, the first of a five year planned increase, but EI rates have dropped by a small margin. A number of new passive income rules take effective January 1st but I don't think many if any of my clients will be significantly affected. Perhaps more inportant is the new TOSI (Tax On Split Income) rules that are in place for 2018 that eliminate some of the dividend allocations we used to make. What this all means is that we all need to be more proactive in planing for the next one, five and longer time frames so there are no surprises.
Finally, the RRSP deadline for a 2018 tax deduction is March 1, 2019.
2018 Personal Income Tax Checklist
If the attached linked documents raise any flags or questions, please come in and see me so we can review your particular situation.
Finally, the attached 2018 tax planner can help you start getting together all the documents you will need come personal tax season. (Sorry it's 5 pages - tax is hard!)
Referrals are my primary mode of growth. If you're pleased with the service level you receive, please pass on my name. If displeased, please let me know.
If there is anything we can do for you, please give us a call.
403-938-2666 or Brent@rbdriscoll.ca
Hours
Monday - Friday 8:30 am - 4:30 pm
(closed @ noon for a hour)
Long weekend Fridays 8:30 am - 2:00 pm
In case of emergency please call me at (403) 818-7570
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