Fall 2005 E-NOTES
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Fall 2005 NEWSLETTER
PERMANENCE OF CHANGE SEMINAR @ MT TREMBLANT PART THREE
We presently have 16 participants for the seminar confirmed and have extended our
deadline with Tremblant to October 21, 2005. We have booked for 20 participants and have
additional rooms on hold at present.
This high energy seminar is held January 30, 2006 to February 1, 2006 with
accommodations at the Hilton from Sunday, January 29, 2006 to Tuesday January 31, 2006.
This seminar also includes breakfast, dinner and three days of skiing as time permits.
This is an excellent opportunity to network with other business owners in a fun,
activity filled environment. The superior accommodations are at the base of the mountain
and in the center of Tremblants facilities. The seminar materials will provide ongoing
value to your company.
We encourage you to consider this program and to invite other business associates to
participate. At a starting cost of $780 inclusive for the three days this is an excellent
value for any business owner. Please contact Debbie at the office for further information.
APPRENTICESHIP TRAINING TAX CREDIT
The Provincial government announced in the 2004 budget substantial changes to the ATTC
program. At present an Ontario business who has a qualified apprentice can earn
Provincial tax credits of up to $5,000 per taxation year.
This program came into effect May 2004 and has significant restrictions and rules
regarding the tax credit availability. The short story is that the qualified apprentice
list was recently expanded to include automotive technicians, carpenters, electricians as
well as the traditional "technical" trades. Only apprentices in the first 36
months of their program qualify for the tax credit. The tax credit, once received, becomes
taxable income for the company. In effect the company pays back 20% of the tax
Each company needs to complete a separate form for each apprentice eligible. Our office
may have missed some filing in the past but we will file amended returns for any employer
who has already filed for a specific fiscal year.
Please contact the office direct if you have employed an apprentice in your
business at any point after May 2004. There are minimum length of employment rules
and registration dates for each individual apprentice that have to be detailed on the tax
credit form. We will review each case on an individual basis.
STATUTORY (PUBLIC) HOLIDAYS
A reminder that Thanksgiving, October 10, Christmas, December 25, Boxing Day, December
26 and New Years Day, January 1 are paid Public Holidays in Ontario. Remembrance Day,
November 11, is not a paid Public Holiday.
FASTFIT 30 MINUTE FITNESS FOR MEN
As many of our clients know I have been involved in a number of businesses over the
years. The most visible business, Ruffins Pet Centres, is a successful chain of
franchised pet stores. Our offices have been located in the Ruffins warehouse
facilities the past 12 years.
This past spring my partner in Ruffins and I started a new company, Fastfit 30
Minute Fitness For Men, as a new franchise business. Essentially this is a "Curves
For Men" and taps into the shortage of workout facilities for the average guy. We
have 3 locations open presently and are looking at 2 others in the immediate future.
As a result of this new business venture we have not accepted any additional clients at
Contren and have referenced interested people to other accountants. We appreciate your
recommending our services to your associates however we can only support our existing
clients at present. We will continue to provide all of our clients with personal service
A reminder that the Federal government has increased the maximum RRSP contributions
though the maximum eligibility earned is still a factor of 18% of earned income.
INC REQD FOR CONTR
A reminder that any unused RRSP eligibility will carry forward and accumulate for