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The following is now available on the CRA Web site:

Ottawa, Ontario, January 21, 2008…The Canada Revenue Agency (CRA) wants to remind Canadians who earn tips and gratuities of the rules for reporting this income on their annual income tax returns. Restaurant servers, hairdressers, valets, taxi drivers and others who earn tips may not have all of their income recorded by the employer and therefore not included on their T4 slips.

The Income Tax Act is clear regarding the treatment of income from tips and gratuities: all tips are taxable and it is your responsibility to report any you receive. The CRA is committed to administering and enforcing the Income Tax Act in a fair and equitable manner, ensuring that the requirements under the law are met while respecting the rights of the individuals involved.

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The following is now available on the CRA Web site:

Tax Tip: The age amount has increased ..

Did you know…

That as of January 1, 2006, the age amount maximum increased from $4,066 to $5,066? If you were 65 or older on December 31, 2006, and your net income was less than $64,043, you can claim the age amount. You may also be able to transfer unused portions of the age amount to your spouse or common-law partner.

For more information, visit our Web site at www.cra.gc.ca.

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I have lots of data on my computer.

I keep all my phone numbers, my time records, my accounts receivable and billings information, my client’s data files for each year for each software that I use, my email records, my wedding pictures, my .mp3 and video collection, and other crap that is just too much to mention.

I am quite organized on my computer .. in fact, this is how I organize my C: Drive …. I am placing a | instead of the backslash so it will show up in here.

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