Fall  2015,  Issue  2  Simpson  &  Associates  

Upcoming  Benefit  Payment  Dates  Ontario  Trillium  Benefit  (OTB):  Nov  10th    

Canada  Child  Tax  Benefit:  Nov  20th  

Universal  Child  Care  Benefit  (UCCB):  Nov  20th    

Working  Income  Tax  Benefit  (WITB):  Jan  5th  

GST/HST  Credit:  Jan  5th    

Alberta  Family  Employment  Tax  Credit:  Jan  27th  

Inside  this  issue...  –Page  1–  

Benefit  payment  dates  

Estate  administration  tax  

–Page  2–    Financial  advice  for  students  

Benefits  finder  

Tips  for  saving  money  

Client  of  the  quarter  

Estate  Administration  Tax  (EAT)  The  EAT  is  imposed  on  the  value  of  all  the  property  that  belonged  to  the  deceased  at  the  time  of  their  death,  less  the  actual  value  of  any  encumbrance  on  real  property  that  is  included  in  the  property  of  the  deceased.    

How  to  calculate  the  EAT:  

$5  for  each  $1000  of  the  first  $50,000  of  the  value  of  the  estate  and  $15  for  each    $1000  of  the  value  of  the  estate  exceeding  $50,000  

It  is  required  that  the  value  be  disclosed  when  the  estate  representative  files  an  Application  for  a  Certificate  of  Appointment  of  Estate  Trustee  with  the  Superior  Court  of  Justice.  The  EAT  must  be  paid  as  a  deposit  at  this  time.  

For  more  information  you  can  visit:  http://www.fin.gov.on.ca/en/tax/eat/faq.html#Q1  

We  are  pleased  to  provide  you  with  the  second  issue  of  our  newsletter.  

Our  next  issue  of  the  newsletter  will  be  sent  in  mid-­‐January.  

Just  a  reminder  that  our  office  has  moved  to  484  Guelph  Line,  Suite  200.  

Please  feel  free  to  contact  our  office  if  you  have  any  questions  about  

your  personal  or  corporate  tax  needs.  

   

     

Service  Canada:  Benefits  Finder  Service  Canada  has  a  website  that  provides  Canadians  with  a  customized  list  of  benefits  for  which  they  may  be  eligible.  The  following  information  may  be  required  by  user  to  obtain  the  list:  

• Province,  age,  marital  status,  household  income  • Whether  they  have  children  • Whether  a  family  member  is  recently  deceased  • Employment  status,  health  and  education  status  • Whether  the  individual  is  a  newcomer  to  Canada,  

interested  in  starting  a  business,  or  if  they  are  a  health  care  worker  

Visit:  www.canadabenefits.gc.ca  to  find  out  more    

 Client  of  the  Quarter  

Helping  Students  Make  Informed  Financial  Decisions  Do  you  have  kids  or  grandkids?  Here  are  some  tips  you  can  share  with  them...  

It  is  important  that  young  adults  learn  how  to  manage  money  sensibly  to  build  strong  credit  and  limit  additional  debt.  Here  are  a  few  tips  from  the  ministry  of  finance:  

• Know  your  options  –  be  sure  to  consider  interest  rates,  annual  fees,  and  grace  periods  and  penalties  when  choosing  a  credit  card  

• Use  credit  wisely  –  pay  credit  card  balances  in  full  each  month  to  avoid  interest  charges  

• Build  a  solid  foundation  –  having  smart  financial  habits  can  help  build  a  strong  credit  record  for  the  future  

If  you  have  any  questions,  suggestions,  or  are  interested  in  being  the  next    “client  of  the  quarter”  please  contact:  peter@simpsonandassociates.ca  

Important  Facts  to  save  money  during    

tax  time  1. Plan  ahead    2. Tax  Free  Savings  Account  3. Registered  Retirement    

Savings  Plan  4. Charitable  Donations  5. Families  (ex.  family  tax  cut)  6. Students  (tuition)  7. Seniors  (income  splitting)  

Each  edition  we  will  showcase  a  Simpson  and  Associates  client  who  can  provide  information  about  their  profession.  

Chiropractic  is  non-­‐invasive,  hands  on  health  care,  focused  primarily  on  the  musculoskeletal  system.  Chiropractors  diagnose,  treat  and  help  prevent  disorders  related  to  the  spine,  pelvis,  nervous  system  and  other  joints.      

There  are  many  reasons  to  seek  chiropractic  care,  such  as  back  pain,  neck  pain,  headaches,  sprains  and  strains,  carpal  tunnel  syndrome,  sports  injuries,  arthritis  and  general  limited  range  of  motion.      

Every  year  in  Ontario,  approximately  1  in  7  people  rely  on  chiropractic  care  to  help  them  live  healthy,  active  lives.  

Dr.  Shawna  Skryzlo  has  been  practicing  in  Burlington  for  the  past  16  years.    If  you  have  any  questions  or  would  like  to  book  an  assessment  to  see  if  chiropractic  can  help  you,  you  can  reach  her  at  Active  Health  Chiropractic  at  (905)  335  5955.