Oct
29

Highlights of the Alberta Budget 2019, part 2

10033885_l
The recently announced Alberta Budget 2019 included the following key priorities:Getting Albertans back to work: This plan includes supporting investment in Alberta while laying out a strong foundation for sustainable economic growth. The plan includes the following:   • Eliminated the carbon tax saving the average family around $665 per year   • Reduce corporate tax rate from 12% to 8% by 2022   • Implement an enhanced capital cost allowance to support business investment          and job creation   • Cut red tape from government processes   • Alberta will move to a new post-secondary sector funding model and lifting the   ...
Continue reading
0
Oct
25

Highlights of the Alberta Budget 2019, part 1

10033885_l
Details of Alberta’s Budget 2019, the first for the new United Conservative Party government, has recently been published. Cuts in jobs in the public sector and delays in infrastructure projects are among the efforts laid out in the budget aimed at returning to a balanced budget by 2023. Here are a few highlights:• Overall, the budget includes cuts to operating spending of 2.8% over four years compared to 18% in Budget 1993.• Total revenue is forecast to remain flat at $50 billion in 2019-2020, $50.1 billion in 2020-2021 and $57.5 billion by 2022-2023. • Policy changes in the budget include the...
Continue reading
0
Oct
23

Record Keeping: Destroying imaged paper documents & backing up electronic files

12577795_l
As mentioned in a previous blog, you generally have to keep your original paper records unless you have saved them in an acceptable, microfiche, microfilm or electronic image formats. Therefore, if you have produced images of your paper records according to the Canadian General Standards Board standards, the images become the permanent records. If so, you can then destroy the imaged paper item. If you are unsure, please get legal advice first.Note that if your business cannot meet the Canadian General Standards Board standards, then you have to keep the original paper documents. You can view the standards here: Canadian General...
Continue reading
0
Oct
21

Record Keeping: What is an acceptable format?

10070370_l_20170603-231047_1
When the CRA asks for certain documents, they expect you to produce these records in paper format, paper format later converted to and stored in an accessible and readable electronic format or an accessible and readable electronic format. If the records were originally produced in paper format, you have to keep your records in paper format unless you have saved them in an acceptable microfiche, microfilm, or electronic image formats. Note that you can use electronic imaging software to keep images of paper records. When producing an image of a paper document, you must make sure it is an actual reproduction,...
Continue reading
0

The KD Blog