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| March 2010 | 2010 Federal Budget Commentary perpared by the Canadian Institute of Chartered Accountants by Rick Jagpal, CA CFP
Budget OVERVIEW
In the afterglow of the Vancouver
Olympics, federal Finance Minister Jim Flaherty mounted a podium in the House
of Commons on Thursday, March 4, to table his fifth Budget, the second of the
current minority Conservative government and the second in succession to follow
a period of prorogation of the House.
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| March 2010 | Budget 2010 - Building a Prosperous British Columbia by Rick Jagpal, CA CFP The British Columbia 2010 provincial
budget was tabled on March 2, 2010. This budget focuses on three areas to help
sustain the province’s road to economic recovery – support of vital public
services that British Columbians rely on, a refocus in government spending to
advance the government’s pledge to return to balanced budgets, and initiatives
to stimulate and sustain economic growth. The provincial deficit is projected
to be $1.7 billion in 2010/11, $945 million in 2011/12, and $145 million in
2012/13. The government reaffirmed its commitment to return to balanced budgets
by 2013/14.
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| February 2010 | What are Public-Private Partnerships? by Bruce Watson, CA, CBV, LLB
Around
the world there is a growing use of public-private partnerships (“PPPs” or “P3s”)
by all levels of government to meet the need for a wide range of public
infrastructures such as roads, bridges, hospitals and schools.
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| February 2010 | HST Transitional Rules for Law Firms by Gary F. Chow, CA HST
Transitional Rules for Law Firms
Although the B.C. Harmonized
Sales Tax was announced on July 23, 2009, draft legislation outlining how we
will transition to the new tax regime is still pending.
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| November 2009 | February 2010 - HST for NPO's & Charities by Gary F. Chow, CA Harmonized
Sales Tax for British Columbia
Legislation
has been proposed to harmonize the B.C .Social Services Tax (PST) with the
federal Goods and Services Tax (GST) to create a Harmonized Sales Tax (HST) as
of July 1, 2010. The HST in British
Columbia would be 12%, consisting of the 5% federal portion and a 7% provincial
portion.
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| September 2009 | Value - which value? by Lorna Goertz, CGA, CBV The
value of something is what that item
is worth. For some items, a value is readily
determinable. For example, if you own a
$25,000 Government of Canada treasury bill, you can look up the current quoted
yield and calculate its value. However,
if you own an apartment block or 10% of the shares of a private company, the
value will likely not be so easy to determine.
And, like beauty, the value of those assets will not be the same to all
beholders. In order to assess their
value, a more precise description of the concept of value to be applied is
required. The descriptor will identify
factors such as the circumstances under which the value is to be determined and
who the beholders are.
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| September 2009 | Fair Market Trade by Lorna Goertz, CGA, CBV In
Canada, fair market value is defined as the highest price, expressed in terms
of cash equivalents, at which property would change hands between a
hypothetical willing and able buyer and a hypothetical willing and able seller,
acting at arms length in an open and unrestricted market, when neither is under
compulsion to buy or sell and when both have reasonable knowledge of the
relevant facts.
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| September 2009 | HST: Should It Be A Hated Tax by Gary F. Chow, CA
We’ve
All Heard the News
On July 23, 2009, Premier Gordon Campbell and his
Finance Minister Colin Hansen announced that B.C. would harmonize the
Provincial Sales Tax (PST) with the Goods and Services Tax (GST) effective July
1, 2010. The new single sales tax rate for the B.C. Harmonized Sales Tax (HST)
will be 12%.
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| September 2009 | 2009 September 1 British Columbia Budget Commentary by Rick Jagpal, CA CFP
The British Columbia 2009 budget update was tabled on September 1, 2009
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| February 2009 | 2009 British Columbia Budget Commentary by Susie Howson, CA The British Columbia 2009
budget was tabled on February
17, 2009. The global economy has affected our province
and will lead us into our first deficit in five years. The budget forecasts a deficit of $495
million for 2009/2010 and $245 million for 2010/2011. The budget also provides for an investment of
$14 billion in infrastructure around the province. This is estimated to
generate employment for 88,000 people.
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| February 2009 | Vehicle Leasing in Turbulent Times by Bruce Watson, CA, CBV, LLB To describe the financial markets in 2008
as turbulent would be an understatement, to say the least!
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| January 2009 | 2009 Federal Budget Commentary prepared by the Canadian Institute of Chartered Accountants. by BUDGET OVERVIEW
On Tuesday, January 27, wearing new and perhaps
appropriately steel-toed shoes, federal Finance Minister Jim Flaherty tabled
his 2009 Budget in the House of Commons.
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| January 2009 | It's that Time of Year Again! by Shawna Charles, CGA As
the proverbial phrase goes, April showers bring May flowers. As a Canadian
taxpayer however, the end of April also brings the annual personal tax filing
deadline.
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| July 2008 | Dealer Tranition Planning (The third in a series) by Diane E. Friedman Managing Change is Key to
Success
In
this article, the third in the series, we highlight the role of change in realizing success in your transitioning
endeavours. Whether change is negative or positive, conflict of some sort always is a by-product of the process.
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| July 2008 | Dealer Transition Planning Or...who will drive the bus? (The second in a series) by Diane E. Friedman This is the second in a series of articles which deals
with succession planning and transitioning your business. We hope you find it
thought provoking!
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| July 2008 | Transition Planning (The first in a series) by Diane E. Friedman This
is the first in a series of articles which deals with succession planning and
transitioning your business.
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| February 2008 | Personal Tax Tips....Did You Know? by Fernando Catala, CMA Did you know that February 29, 2008 will be the final day to make RRSP contributions for 2007?
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