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TAX THOUGHTS

These notes are for your review only. Before implementing any changes to your tax plan, please contact us.

1. TAX FREE GIFTS AND AWARDS

Canada Revenue Agency (CRA) allows a business to give each employee one annual non-cash gift or reward of up to $ 500 including GST/HST. Gift certificates are not allowed. This may not be applicable for owner-manager employees and other related individuals. Call us to discuss procedures for implementing these programs.

2. PERSONAL TAX RATES (approximate)

Federal and Alberta (combined before exemptions)