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Fall 2005 E-NOTES

To print the Fall 2005 E-notes click here:

 

CONTREN MANAGEMENT CONSULTANTS INC.

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 credit received.

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, Ruffin’s Pet Centres, is a successful chain of franchised pet stores. Our offices have been located in the Ruffin’s warehouse facilities the past 12 years.

This past spring my partner in Ruffin’s 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 and attention.

 

RRSP CONTRIBUTIONS

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.

TAXATION YEAR

MAX DED/ELIGIBILTY

INC REQ’D FOR CONTR

2005

$16,500 $91,666

2006

$18,000 $100,000

2007

$19,000 $105,555

2008

$20,000 $111,111

2009

$21,000 $116,666

 

A reminder that any unused RRSP eligibility will carry forward and accumulate for future use.

 

 

 

 

 

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Contren Management Consultants Inc.
109 Industrial Dr., P.O. Box 295
Dunnville, Ontario. Canada N1A 2X5
Tel: (905) 774-2977
Fax: (905) 774-1096

E-mail: info@contrenmanagement.com


Contren Management Consultants Inc. 1999. All Rights Reserved.