H A Benson Inc
119 Broadway St. PO Box 780 V0G 1R0 Nakusp, BC, Canada

*Tip of the Week* Wondering when your next child tax benefit payment is coming? Or how much contribution room you have in your RRSP? Need help with your tax return? The CRA's new mobile app is here to help with these and more - anywhere, anytime. The Canada Revenue Agency (CRA) is proud to announce the release of its new mobile appMyCRAavailable for all mobile devices like smartphones and tablets.

*Tip of the Week* Top things families should know about taxes There are lots of benefits, credits, and deductions to help families with their expenses throughout the year and reduce the amount they owe at tax time.... http://www.cra-arc.gc.ca/nwsrm/txtps/2015/tfsk08-eng.html

Fraudulent emails and phone calls - Protect yourself! The CRA is warning Canadians that fraudulent emails and phone calls purporting to be from the Agency are currently being reported. http://www.cra-arc.gc.ca/nwsrm/lrts/2014/l140307-eng.html... Beware of telephone and email scams The Canada Revenue Agency (CRA) warns all taxpayers to beware of telephone calls or emails that claim to be from the CRA but are not. cra-arc.gc.ca

*Tip of the Week* CRA APP FOR SMALL AND MEDIUM-SIZED BUSINESSES (SMEs) CRA released a new mobile application (app) for certain phones (Apple iOS, Google Android, and Blackberry) which assists business owners and employees to create alerts for tax payments, returns and remittances related to a corporation’s corporate tax, payroll, and GST/HST accounts. Individuals can also set-up reminders for personal tax installments, as well as their tax return and balance due dates. For further information see VTN Monthly Tax Update Seminar, Issue No. 398

This is direct from CRA: Direct Deposit Promotion As you may know, the Government of Canada is switching to direct deposit payments. The Canada Revenue Agency (CRA) would like you to continue to encourage your clients, both individuals and businesses, to enrol for direct deposit. ... As a tax practitioner, your clients bring their required identification credentials when they visit your office to file their tax return. The CRA would like banking information to be considered as essential information in order to complete their return and receive their refund. Not only will taxpayers receive their T1 refund by direct deposit, but also any of the other payments owed to them by the CRA, such as the Canada child tax benefit, Universal child care benefit, GST/HST credit, or any associated provincial/territorial credits. Direct deposit is a fast and convenient way for your clients to get their income tax refund and other credit and benefit payments directly into their bank account without having to wait for a cheque. Direct deposit costs less and is better for the environment, too! We look forward to your continued support on this initiative.

*Tip of the Week* CRA Audit Alert: Do you have a Personal Service Business Corporation (PSB)? A PSB is a corporation whereby all or substantially all the services are provided to one customer. CRA is currently reviewing these corporations. The tax ramifications can be significant if the company is deemed to be a personal service company.... Refer to http://www.cra-arc.gc.ca/E/pub/tg/rc4110/README.html See more

*Tip of the Week* Are you a citizen of the U.S. residing in Canada? U.S. citizens are required to file U.S. tax return every year. If you don't you are subject to some very hefty penalties, even if there are no taxes owing.

Did you know? Are you 65 or older? Claim your benefits and credits. http://www.cra-arc.gc.ca/nwsrm/txtps/2015/tt150112-eng.html

*Tip of the Week* If you are one of two or more shareholders in a company, do you have a shareholders agreement? If not you should get one without delay. You should contact your legal advisor.

What's new for tax professionals and tax prepares? http://www.cra-arc.gc.ca/nwsrm/txtps/2014/tt141215-eng.html

*Tip of the Week* Are you a "Snow Bird"? Canadians who reside in the U.S. for part of the year may be required to file form 8840 asserting a closer connection to Canada. http://www.irs.gov//Form-8840,-Closer-Connection-Exception... http://business.financialpost.com//border-shakeup-could-h/

We will be closed from December 20th until January 5th. If you need to reach us you can email [email protected] We will be back to regular hours 9:00am - 4:00pm starting January 5th, 2015

*Tip of the Week* Are you in a "common law" relationship? If so you need to acquaint yourself with the new BC family law and the new wills, estate and succession act for BC

Did you know? You may be eligible for new or improved tax relief measures and online services when filing your 2014 income tax and benefit return. http://www.cra-arc.gc.ca/nwsrm/txtps/2014/tt141208-eng.html

*Tip of the Week* If you have capital losses carry forward and have investments that have gone up in value, consider selling them in 2014 to use up your capital losses

*Tip of the Week* Are you or anyone in your family disabled? Did you know you may be able to claim missed income credits for up to 10 years. To go back to 2004 this claim must be filed by December 31, 2014

*Tip of the Week* if you have an asset that has gone up in value and you want to sell it, you may be able to shelter some or all of the capital gain against any RRSP room you have.

Are you waiting till 2015 to do your 2014 tax planning? Come in for a free review of your personal and or corporate accounting and taxation matters. Book an appointment today!