Finance Minister Bill Morneau introduced many proposed changes to the Federal Income Tax Regulations. With the current majority in the House of Commons, it is very likely that these proposals will pass into law. Your professional accountant should have advised you of the changes as I am advising my clients.
To see their specific impact on you or your private company, you can click here https://beta.theglobeandmail.com/report-on-business/small-business/sb-money/how-much-will-morneaus-proposed-tax-changes-cost-small-business-we-do-the-math/article36021179/.
How to prepare for these new changes?
There are strategies that can be developed in advance of the implementation of the proposed legislation. You should prepare for these as soon as possible so that you might be eligible for a grandfather clause if one is provided. One of my client’s spouse, who started her company with her mate but has stopped working there, has been advised to keep her shares in the company for lower taxed dividends and potential capital gains benefits.
There are some other activities you can undertake to further your income, and that is to review your billings.
How can we help you with these new changes?
As professional accountants who have worked for the Ministry of Health, we can review and guarantee to enhance your future billings. We look at your past and current billings and train your office staff to ensure optimal billing. Our expertise and statistical analysis allow us to identify many missed opportunities; going back six months to correct previous billing “omissions” and recover fees for work done but not billed. With our expertise, no time is wasted, and the smother the submission the quicker and easier the payment. As professional accountants with knowledge of PHIPA business confidentiality and patient privacy are guaranteed.
How can I learn more about this issue?
Please e-mail us at firstname.lastname@example.org or call us at (416-953-7139) if you would like more information on this offer, or on the other services our firm can provide to you, or if you would prefer to meet with one of our professional staff in regards to tax, accounting, billing and consulting services. Alternatively, you can check us out on our website at http://silverfoxaccounting.com/ohip-billing.