PKBW GROUP Chartered Accountants & Business Advisors - Winnipeg Manitoba Canada

Canada Pension Plan (CPP) Changes

adminPKBW — Thu, 26 Jan 2012 22:21:26 +0000

Effective January 1, 2012, CPP contribution rules have changed. All workers aged 60 to 64 and their employers are required to make CPP contributions, even if workers are collecting CPP. Additionally, all workers aged 65 to 70 and their employers are required to make CPP contributions, unless employee has elected to stop their CPP contributions. A CPT30 Form must be completed and provided to their employer to stop their CPP contributions. The election will take effect on the first day of the month after the employee provides the form to their employer.

There are also some changes regarding the CPP payment amounts, depending whether an individual chooses to start collecting early or late. Early payments of CPP (ages 60-64) are more punitive and late payments results in higher payment amounts.

Please contact us for more detailed information or advice. You can also find more information on this topic at:

Employment Opportunity – Senior Accountant

adminPKBW — Sat, 14 Jan 2012 17:31:56 +0000

PKBW Group is seeking a person interested in a career in public practice. We require a CGA, CMA or CA (or 2011 UFE writer) to plan, perform and supervise various audit, review and compilation engagements. The ideal candidate will have assurance work experience in public practice, a working knowledge of corporate and personal taxation, and experience with Caseware/Caseview, Excel and various accounting software. Experience with First Nation audits, audits of not-for-profit organizations and owner manager engagements would be an asset.

Please reply in confidence by e-mail to the attention of Tim Walker, B. Comm. (Hon.), CA at tim.walker@pkbwgroup.ca

Employment Opportunity – CASB Student

adminPKBW — Wed, 14 Sep 2011 17:29:04 +0000

PKBW Group requires a CASB student interested in pursuing a career in accounting. The Company is seeking a CA student to perform various audit, review and compilation engagements. The individual will gain valuable experience and be supervised directly by CA professionals in our office. The ideal candidate will have received their Business Administration degree with a major in accounting. Prior work experience in the accounting or business area would be an asset.

Please reply in confidence by e-mail to the attention of Tim Walker, B. Comm. (Hon.), CA at tim.walker@pkbwgroup.ca

New Disbursement Quota rules for Registered Charities

adminPKBW — Thu, 06 Jan 2011 15:48:22 +0000

One of the major changes in the March 4, 2010 budget affecting registered charities was the elimination of the 80% disbursement quota (DQ). This requirement imposed an obligation on all registered charities to spend, in the current year, 80% of the previous year’s charitable tax receipted donations. Charities, however, will still be required to disburse a minimum of 3.5% of property (e.g. investments) held but not used in directly in charitable activities or administration.

The other noteworthy change is the increase in the capital accumulation threshold from $25,000 to $100,000 for charitable organizations. In other words, charities with property held but not used directly in charitable activities or administration valued at under $100,000 would not be subject to the 3.5% disbursement requirement. The exemption for charitable foundations remains unchanged at $25,000.

These changes apply to all registered charities with fiscal year ends after March 4, 2010

For further information concerning these changes, consult the CRA Charities Directorate website.

RRSP’s or Tax Free Savings?

adminPKBW — Thu, 06 Jan 2011 15:46:47 +0000

Do you know what will save you more money – contributing to your RRSP or contributing to your TFSA? Contact one of our tax specialists to analyze your personal tax situation and advise as to what is best for you.