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Summer 2004 E-NOTES

To print the Summer 2004 E-notes click here:

CONTREN MANAGEMENT CONSULTANTS INC. SUMMER 2004 NEWSLETTER

SUMMER OFFICE HOURS

A reminder that the office will be closed on Fridays until September 10. The office will be closed August 2 to August 6 inclusive. We have recently updated our after hours voice mail. We will be reviewing our messages frequently whenever the office is closed.

STATUTORY (PUBLIC) HOLIDAYS

A reminder that Canada Day, July 1 and Labour Day, September 6 are Public Holidays in Ontario. The Civic Holiday, August 2, is not a paid Public Holiday.

ONTARIO HEALTH PREMIUM

As a result of the Provincial Liberal government the citizens of Ontario are now obligated to pay their own, individual Health Premium. The existing Employers Health Tax remains in effect and at the same rates.

For calendar 2004 the premiums are one half of the yearly costs. The actual per income rates are very complex as the increases are phased in on a percentage basis at each threshold. The basic thresholds and rates are as follows;

$19,999 taxable income or less $0 health premium.

$20,000 to $24,000 taxable income $60 to $240 health premium

$25,000 to $36,000 $300 health premium

$36,500 to $38,000 $330 to $420 health premium

$38,500 to $48,000 $450 health premium

$48,100 to $48,500 $475 to $575 health premium

$48,600 to $72,000 $600 health premium

$72,100 to $72,500 $625 to $725 health premium

$72,600 to $200,000 $750 health premium

$200,100 to $200,500 $775 to $875 health premium

$200,600 taxable income or more $900 health premium

Now the tricky part is that these premiums are collected as additional Ontario taxes and do not show up separately as a payroll deduction. Salaried employees will see a reduction of their net pay on their first pay in July. Unfortunately the employee will not have the Health Premium shown as a separate deduction on their payroll stub. Fortunately there are no additional forms to complete as an employer.

This Health Premium is based on the taxpayer’s taxable income which means that dividends, interest, rental and other income sources will now incur the premium at the incremental rate. The average business owner in Ontario will likely be liable for additional health premiums upon filing their personal tax returns.

 

PERMANENCE OF CHANGE SEMINAR – PART TWO

We are finalizing the package options presently and have some preliminary pricing. Based on the surveys from last year there will not be any sharing of accommodations, only singles or couples. We will send out an information sheet the middle of July for completion and return by August 20. The pricing and options will be similar to last years package however we are still open still open to suggestions for one additional seminar topic.

 

FORKLIFTS FOR SALE

Unbelievable deals here at Ruffin’s head office. Two mint condition forklifts for sale.

1974 Allis Chalmers 48 volt, 4,000 lb electric forklift. Power steering, side shift, 12’ lift, 600 volt 3 phase charger included – only $1,750.

1988 Clark 3 wheel 24 volt, 3,000 lb electric forklift. Power steering, 12’ lift, 600 volt 3 phase electronic charger included – only $2,500.

Please contact myself or Mark Reynolds at 905 774 7079 for more information.

 

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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.