Slowly, but surely, the BC Government is taking steps to revert back to the dual GST/PST system that was in place before HST was implemented.

On November 28, 2011, the BC Ministry of Finance issued an update on the progress of the transition.

According to the update, the plans established remain on schedule for completion within the 18-24 month timeline discussed. A review of the old PST system is underway to determine any administrative improvements that can be made to make the re-instated PST more efficient than its
predecessor.

CLICK HERE TO LEARN MORE ON THE MINISTRY OF FINANCE WEB SITE >>

Taxable benefits are an area to which business owners should pay close attention. Many benefits which, on the surface, may not appear to be taxable actually are and it’s important to protect your business and your employees by knowing the difference. For example, a car given to an employee for business use would not be taxable. However, if that employee also uses the vehicle for personal purposes, it would then become a taxable benefit.

To help clarify the details of what is considered by CRA to be a taxable benefit and what is not, the agency has prepared an Employer’s Guide to Taxable Benefits and Allowances.

CLICK HERE TO VIEW THE GUIDE FROM THE CANADA REVENUE AGENCY >>

Have you ever wanted to know how your web site compares to those of your competitors? Knowing what others in your industry are doing right – and wrong – is powerful knowledge in business. It allows you to learn from the mistakes of others and can give your company a competitive advantage.

WooRank is a web site that will provide a free analysis of your web site and how it fares based on a variety of criteria. Some of the elements WooRank considers include:

• Page Titles
• Meta Keywords
• Meta Description
• Image ALT Tags
• Text/HTML Ratio

CLICK HERE TO GET YOUR FREE WEB SITE ASSESSMENT >>

February 29, 2012
8:15am – 9:30am

Best Western Plus Coquitlam Inn & Convention Centre

Learn the art of win-win negotiation at this free morning seminar. Gain the skills, competencies and insights required in all negotiations in every industry and at every level.

This short seminar will provide you with a step by step guide to more effective negotiations. It will help you to better identify the problem, understand it from the other’s perspective, generate alternative solutions and select a solution that benefits both sides.

CLICK HERE FOR MORE INFORMATION >>

Cloud computing has been a buzzword in the business world for a while now – and for good reason. Using cloud-based services can offer a host of benefits for users, including convenience and data security.

NALH is in the process of transitioning to a cloud-based delivery of our accounting services. With this exciting change, our clients will have the option of subscribing to our cloud accounting system in order to enjoy the following benefits:

• Access to your accounting records from any computer with an Internet connection
• No more transferring data files back and forth – your file will be kept in a central location where both our staff and yours can access it at any time
• Access to the most up-to-date versions of your accounting software so you can take advantage of new features as they are made available

We’re looking forward to our transition to our cloud-based accounting system as we feel it will help us provide an even better level of service to our clients.

CLICK HERE TO CONTACT US FOR MORE INFORMATION >>

It seems that not a day goes by when we don’t hear about some new scam that’s being perpetrated against unsuspecting victims. During the holidays it’s especially it’s important to keep a close eye on your credit report to ensure there’s nothing suspect going on.

Kim Strynadka of Dominion Lending Centres shared some great tips for keeping a watchful eye on your credit:

Every year you should check your own credit.  It helps you ensure that you are on track and there is no fraudulent activity.   In order to accomplish this, I recommend 3 things:

• Contact both credit bureaus directly and request a copy of your reports. You can reach Equifax Canada at: 1-800-465-7166 and TransUnion Canada at: 1-866-525-0262. Just as a warning, there is a cost to order your report. There are methods to obtain your report for free, but they are very time-consuming.
• Read “Understanding Your Credit Report and Credit Score”
  You can also see what a credit report looks like, know how to get errors corrected or understand what factors influence your credit scores by reading a publication called Understanding Your Credit Report and Credit Score from the Financial Consumer Agency of Canada.
• Flag Your File for New Credit Requests
  I recommend calling both agencies and asking them to put a ‘flag’ on your file to call you on your cell phone before issuing any new credit. This is a very good, pro-active strategy to help protect yourself.

Another tax year has come and gone, though it seems hard to believe it’s that time of year again already!

Please be mindful of the following deadlines related to contributions to RRSPs, distributing T4 slips, along with filing deadlines for 2011 tax returns for individuals and self-employed persons.

RRSP Contribution Deadline
February 29, 2012 is the deadline for contributing to an RRSP for the 2011 tax year.

T4 Slip Distribution Deadline
You must give employees their T4 slips on or before the last day of February following the calendar year to which the slips apply. If you do not, you may be subject to a penalty.

Individual Tax Return Deadline
Individual returns for 2011 must be filed on or before April 30, 2012.

Self-Employed Persons Tax Return Deadline
If you, or your spouse or common-law partner, carried on a business in 2011, your return for 2011 must be filed on or before June 15, 2012. However, if you have a balance owing for 2011, it must be paid on or before April 30, 2012.

CLICK HERE FOR MORE INFORMATION FROM CANADA REVENUE AGENCY >>

Every three years, federal, provincial and territorial Finance ministers review the Canada Pension Plan (CPP) to determine if benefits and/or contribution rates should be changed. Recommendations are based on a number of factors, including whether or not the Plan is meeting the needs of Canadians.

Following their review of the CPP in May 2009, the ministers unanimously recommended changes to the CPP to enhance flexibility and to support both older and younger workers in a fair and affordable way. The changes are being implemented gradually over a six-year period since January 2011, with full implementation in 2016.

What are the highlights of the changes to CPP?

• CPP retirement pensions will be higher if taken after age 65
• CPP retirement pensions will be lower if taken before age 65
• Changes to the general drop-out provision
• Elimination of the Work Cessation Test
• Introduction of the Post-Retirement Benefit

CLICK HERE FOR MORE INFORMATION FROM CANADA REVENUE AGENCY >>

Experience time-sensitive, result-oriented spa treatments in a friendly, professional and comfortable environment. Our generous treatment suites are designed to provide you with a private oasis and include spa showers, a full-sized vanity, heated towel rack, a luxurious, fully hydraulic Oakworks Treatment Bed and Deserving Thyme amenity products.

Pamper your loved ones with Deserving Thyme’s luxurious bath and body products and spa services.

CLICK HERE TO LEARN MORE ABOUT DESERVING THYME >>

Have you ever been away from your office when an important document requiring your signature arrives in your email but you don’t have access to a printer?

Do you ever need to review a document and mark it as approved or as urgent? No problem.

With the Sign It! app from Crowded Road, you can open any PDF document and fill in fields, sign, stamp and/or date directly from your phone.

At a cost of a mere $4.99, the app will pay for itself in no time with all the time and energy – not to mention ink and fax costs – you’ll save by being able to manage your documents on the go.

CLICK HERE TO DOWNLOAD THE SIGN IT! APP >>

Are you or someone you know an outstanding bookkeeper? We’re looking for a great team player to join us at our Burnaby office.  See below for more information on what we’re looking for:

We are a dynamic, fast-paced, progressive office that supplies computerized bookkeeping services to our clients. Our clients are small to medium-sized Lower Mainland businesses that require hands-on bookkeeping.

We are looking for a people person, with exceptional full-cycle computerized bookkeeping skills.

MANDATORY REQUIREMENTS

• Minimum of 5 years of Canadian bookkeeping experience
• Proven abilities with QuickBooks
• Excellent English communication skills – both oral and written
• Excellent troubleshooting skills
• Work well under pressure and able to meet deadlines
• Professional in dress and manner

PREFERRED REQUIREMENTS

• T1 / T2 preparation experience
• Enrolled in or have completed CGA program

Please send your resume and cover letter outlining your specific full-cycle bookkeeping experience to:
hr@nalh.ca

There’s hardly a day that goes by that most of us don’t wish for more time to get all the things on our to-do list finished. However, it need not take a large amount of time to get things done.

Self-Growth.com author Sue Brenner wrote a great article about some productive things you can get accomplished in just 15 minutes. Here are a few of the ideas that made the list:

• Take a Break
  Are you tired? Do you long to take an actual break? When you discover a pocket of time in your day, do it! Calm down. Re-center yourself. Get a cup of tea at the corner coffee shop. Browse the newspaper or a magazine. The point is to take a satisfying break that refuels you for the remainder of the day.
• Turn Your Mood Around
  Suppose you need to get work done, but you’re in a funk. First, rate the level of your bad mood on a scale of 1 – 10. Then ask, “What specifically led to this mood?” Maybe you didn’t get enough sleep, or you argued with your boss this morning. Pinpoint the facts of what happened. Then figure out if you’re making up anything about the incident that has very little to do with the facts. For example, “My boss doesn’t like me.” Then ask yourself, “What’s a more rational way of thinking about this?” Now rate your mood again. The number will probably be lower. Then get moving.
• Sprint Clean Your Office
  This is the opposite of doing nothing, but sometimes it has to be done! Scan your office. Pick the one area that needs the most attention first. Do you have folders stacked on your desk? Are there three coffee mugs from the past week? Your desktop may be your first target area for action. Remove what doesn’t belong there. Use a tissue to dust. Either file or put papers in your out-box for future organizing. Pick one area and clear it. Then experience a sense of calm and relief. Eliminating a mess you’ve been putting up with recharges your batteries.

CLICK HERE TO READ THE FULL ARTICLE FROM SELFGROWTH.COM >>

The HST (Harmonized Sales Tax) in BC has been a topic of debate since well before it was even introduced. Now that the voters have spoken and HST will be repealed, focus is turning to how to take advantage of it before reverting back to the old GST/PST system.

SmallBusinessBC.ca has a great article by North Vancouver accountant Gabriel Loren about ways you can benefit from HST while it’s still in effect.

As of March 31, 2013, small business owners across the province will face a big change as the HST system will be reverted back to PST/GST. What this means for small businesses operating in British Columbia, and businesses that have clients in BC, is that until March 31, 2013, you will need to continue to charge your clients in accordance with the current HST rules.

CLICK HERE TO READ THE FULL ARTICLE FROM SMALL BUSINESS BC >>

Most of us would like to send less of what we earn to the Canada Revenue Agency and keep more of it in our own pockets. One thing that can be done to reduce tax liability is to file for any tax credits that may be applicable to your situation.

The Knowledge Bureau shares tips on how to keep more of what you earn in your pocket and give less to CRA by taking advantage of tax credits for which you may qualify.

CLICK HERE TO VISIT THE KNOWLEDGE BUREAU WEB SITE >>

Beginning October 1, BC residents will have access to a new small-appliance recycling program called UnPluggedBC.

This new program will allow drop-off of most small appliances for recycling, redirecting lots of items that would otherwise end up in BC landfills.

Visit the UnPluggedBC web site for more information on drop-off locations and accepted items.

CLICK HERE FOR MORE INFORMATION >>