Kemp Harvey Laidman-Betts Inc.

Attention: Carolyn Laidman-Betts

206 – 3334 30^th Avenue

Vernon, BC

Carolyn.lb@khgcga.com

Kemp Harvey Laidman-Betts Inc.
Attention: Carolyn Laidman-Betts
206 – 3334 30th Avenue
Vernon, BC

Carolyn.lb@khgcga.com

February 2012 Kemp Harvey Group Newsletter

In the past, once an employee started collecting CPP one no longer had to contribute CPP. This is no longer the case. Employees aged 60 to 65 must continue to contribute to CPP regardless of whether they are receiving CPP benefits.

Employees aged 65 to 70 are also required to contribute to CPP unless they complete Form CPT30, Election to Stop Contributing to the Canada Pension Plan. This election takes effect the first day of the following month it is filed. The form must be submitted to the Canada Revenue Agency (CRA) and a copy must be given to the employer.

For more information visit the CRA website at: http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/cpp-rpc/cpp-menu-eng.html

• spouse or common-law partner amount
• amount for an eligible dependant – amount for children under age 18 at the end of the year
• amount for infirm dependants age 18 or older – caregiver amount

You can receive this new Family Caregiver amount if you are otherwise eligible for the non-refundable tax credits listed above for a dependant and:

• for individuals age 18 and older, the individual must be dependent on you by reason of mental or physical infirmity or
• for a child under age 18, the child must have a medical or physical infirmity and as a result of that infirmity is, and is likely to be for a long continued period of indefinite duration, dependent on others for significantly more assistance in attending to the child’s needs and care when compared to children of the same age.

CRA will require a signed statement from a medical doctor. This will require information regarding the nature, commencement, and duration of the of the dependant’s impairment.

For those of us who have no time or money but still need knowledge

Please give us one hour of your time and we will share with you for free the answer to the question:

If you run your own business, join us

Thursday, February 2, 2012 from 5:30 pm to 6:30 pm

Drop by on the way home to our boardroom:

#103 – 4430 Halifax Street, Burnaby BC

½ block west of Brentwood Mall and the skytrain station, parking in the rear off Buchanan

Food / drinks provided

Space limited to 12 on a first come basis, at no cost to you except your time

Please call Christine at 604-291-1470 x101 or email burnaby@khgcga.com by January 31, 2012 to reserve your seat

To be eligible the child must have been under 16 at the beginning of 2011. Children with disabilities must be under 18 years old at the beginning of 2011 and are eligible for a maximum claim of $1,000 per child.

To qualify the program must be either a minimum of 8 consecutive weeks long or 5 consecutive days long. It must be supervised and suitable for children.

It must also meet one of these criteria:

•  it contributes to the development of creative skills or expertise in an artistic or cultural activity;
• it provides a substantial focus on wilderness and the natural environment;
• it helps children develop and use particular intellectual skills;
• it includes structured interaction among children where supervisors teach or help children develop interpersonal skills; or
• it provides enrichment or tutoring in academic subjects.

Please note that programs which are part of a school curriculum are not eligible.

For more information contact your local Kemp Harvey Group office.

“The Canada Revenue Agency will be conducting its letter campaign for the third year in a row to give Canadians the information they need to understand their tax obligations. The Audit Division in each tax services office will begin the campaign in early 2012.

Two types of letters will be sent to Canadians across the country. Some taxpayers will receive a letter explaining the eligibility criteria for certain deductions they have claimed on their recent income tax returns. Others will receive a letter with the same information, but it will also inform them that their income tax returns may be selected for audit.

The goal of the campaign is to educate taxpayers about certain claims they have made in the past and to promote compliance with the Income Tax Act. We are asking individuals to review their income and expense claims related to rental and/or business activities and employment expenses, and to review the calculation of capital gains or losses arising from dispositions of publicly-traded shares or mutual fund units.

We also want to allow taxpayers to amend their income tax returns by completing an adjustment request in cases where they may have claimed deductions in error or provided inaccurate information. “

Thank you to everyone who brought in a food donation for the Community Christmas Hamper Program.

Happy Holidays!

From the Grand Forks Partners and Staff.