BC Minimum Wage Is Going Up From Today
These wage increases usually happen on new year, but this year under the new BC Premier Christy Clark, the BC minimum wage is going upto $9.50/hr, against protest from Hospitality Business Owners.
Premier Christy Clark announced her intention earlier this year to introduce incremental increases to the provincial minimum hourly wage, which stood at $8 — the lowest in Canada — for nearly a decade.
The first increase took effect on May 1 of this year, when the minimum hourly wage rose to $8.75. It’s expected to reach $10.25 by May 2012.
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TELUS Business Freedom Plan will reduce your TAX!
Business friendly mobility service TELUS launched their Business Freedom service for Western Canada on October 6, 2011 at the Network Hub in Vancouver.
The bundled business mobility, land line and internet service comes in a very attractive price package for businesses, without any long term commitments.
The most attractive features for me are, no long term commitments, any time device upgrade and changes to services depending on your businesses growing need and rather than having three bills for three services, all three services bills are combined in one bill. WOW!
USA Foreign Account Tax Compliance Act (FATCA)
PayUp
The Foreign Account Tax Compliance Act (FATCA), enacted in 2010 as part of the Hiring Incentives to Restore Employment (HIRE) Act, is an important and highly controversial development in U.S.efforts to combat tax evasion by U.S.persons holding investments in offshore accounts.
Under FATCA,U.S.citizens and taxpayers holding financial assets outside the United States will report those assets to the IRS. In addition, FATCA will require foreign financial institutions to report directly to the IRS certain information about financial accounts held by U.S.taxpayers, or by foreign entities in which U.S.taxpayers hold a substantial ownership interest.
Reporting by U.S. Taxpayers Holding Foreign Financial Assets
FATCA requires certain U.S.taxpayers holding foreign financial assets with an aggregate value exceeding $50,000 to report certain information about those assets on a new form (Form 8938) that must be attached to more »
IRS Calling! US Citizens in Canada File Your Tax Return
Income Tax
The USA tax collector Internal Revenue Service (IRS) has stepped up their search for U.S. citizens living outside of the country and not filing their returns.
Thousands of “lost” U.S. citizens living in Canada are getting the call from the IRS.
Here are some tips on how to get caught up:
*Dual citizens: Even if you moved to Canada and became a citizen or resident, unless you go through the formal process of renouncing your U.S. citizenship, you are considered a dual citizen. The IRS still expects you to file your annual income tax return form 1040.
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USA Tax Filing Amnesty Deadline Extended for Non-Filers
Due to the potential impact of Hurricane Irene, the IRS has extended the due date for USA Tax Filing Amnesty offshore voluntary disclosure initiative (OVDI) requests until Sept. 9, 2011. For those taxpayers who have not yet submitted their request and any documents, they must take action by Sept. 9, 2011.
The previous deadline was August 31st, 2011.
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