#KempHarveyGroup

Kemp Harvey Group, Chartered Professional Accountants. We are a team of CPA partners in BC providing #accounting, #Canadian / #US #tax, #audit, #smallbiz #CPA

[#KempHarveyGroup @KempHarveyGroup]

If your an employer with greater than $500,000 in remuneration you must register for the BC Employer Health Tax.

https://t.co/t8j0mDiFfg

[#KempHarveyGroup @KempHarveyGroup]

Preparing T4 slips? This guide may help:
https://t.co/jtuQirQSkD

[#KempHarveyGroup @KempHarveyGroup]

Do you have a special situation to report on your T4s? Find answers:
https://t.co/x31ASaptON

[#KempHarveyGroup @KempHarveyGroup]

Taxable benefits can be confusing, this Guide may help:
https://t.co/CPazmDLQJ3

[#KempHarveyGroup @KempHarveyGroup]

You can give your employee up to $500 in non-cash gifts tax free each year.
https://t.co/yJwMMbtNwT

[#KempHarveyGroup @KempHarveyGroup]

All cash and near-cash gifts to employees are taxable and must be included in the employees income. Near-cash gifts include gift certificates and stocks.

https://t.co/yJwMMbtNwT

[#KempHarveyGroup @KempHarveyGroup]

If you use your corporate vehicle for personal use, you have a taxable benefit.
https://t.co/HacGlXIZIS

[#KempHarveyGroup @KempHarveyGroup]

Do you provide your employees with any benefits? They may be taxable.
https://t.co/nsjWvmdbNe

[#KempHarveyGroup @KempHarveyGroup]

If you received dividends from your corporation during the year, you are required to file a T5 slip. The filing due date this year is March 1, 2021

[#KempHarveyGroup @KempHarveyGroup]

Preparing T4 slips? This guide may help: https://t.co/jtuQirQSkD

[#KempHarveyGroup @KempHarveyGroup]

Did you know that if you have to file more than 50 T4 slips, you are required to electronically file? Not doing so may result in a minimum penalty of $250.

https://t.co/7zPIGtrsRM

[#KempHarveyGroup @KempHarveyGroup]

Do you have a special situation to report on your T4s? Find answers:
https://t.co/x31ASaptON

[#KempHarveyGroup @KempHarveyGroup]

There are penalties for late filing a T4 slip. The penalty for filing 11-50 slips late is the greater of $100 or $10 per day, to a maximum of $1,000.
https://t.co/isS9lu8pl6

[#KempHarveyGroup @KempHarveyGroup]

If you are filing a T5018 Statement of Contract Payments, be aware that you must include federal and provincial sales tax when calculating the total payments made to the recipient. https://t.co/yotsZrxRTa

[#KempHarveyGroup @KempHarveyGroup]

Taxable benefits can be confusing, this Guide may help:

https://t.co/CPazmDLQJ3

[#KempHarveyGroup @KempHarveyGroup]

In the Construction Business and use subcontractors? You are required to file T5018 Statement of Contract Payments. You can choose to file based on a calendar year or based on your corp. fiscal year. Due 6 months at the end of the period you have chosen.
https://t.co/yotsZrxRTa

[#KempHarveyGroup @KempHarveyGroup]

Has your business seen a drop in revenues? You may be eligible for the Canada Emergency Wage subsidy.

https://t.co/DEoN3UVzWE

[#KempHarveyGroup @KempHarveyGroup]

You can give your employee up to $500 in non-cash gifts tax free each year. https://t.co/yJwMMbtNwT

[#KempHarveyGroup @KempHarveyGroup]

Did you make an error preparing the T4 slips? Details on how to amend a T4 slip can be found here: https://t.co/yJsUGZKfVw

[#KempHarveyGroup @KempHarveyGroup]

Does your business have a drop in revenues and need help covering rent payments? You may be eligible for the Canada Emergency Rent Subsidy.
https://t.co/91qXlxRw9Q