• The average tax refund was $1440 last year. If you have a refund coming, it means that you overpaid your taxes during the year. • You do not have to pay installments if you owe the Canada Revenue Agency (CRA) less than $3000. • Decrease your income tax; the RRSP contribution deadline is the end of February. • We can help you minimize the tax you pay! 
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Yesterday, Today & Tomorrow Tax Services Inc. is a family owned company based in  Burlington, Ontario. Our mission is to serve the needs of our clients with honour and integrity. HST is coming July 1, 2010. Are you ready? The Hated Sales Tax is coming. Actually, the Harmonized Sales Tax of 13% is coming July 1, 2010 to a store near you. It will affect your daily life. You may be eligible to receive up to $1000 in payments designed to offset the effects of the tax increase. It will apply to a lot of things. The government of Ontario has a list of items subject to and exempt from the tax.
Check out their website: http://www.rev.gov.on.ca/en/taxchange/taxable.html Some of the things you will pay 8% more for include:
Dry-cleaning, tax returns, home electricity and heating bills, service calls for home repairs, gasoline for your car, home renovations, haircuts and cigarettes. The CRA has issued the following statistics for the 2009 tax filing year to date: - 16.6 million Canadians had filed their returns as of April 29
- Canada Revenue Agency had issued almost $16.2 billion in tax refunds.
- The average income tax refund was $80 higher than last year (approximately $1490)
- To April 29, 2010: 488,570 taxpayers opted to split their eligible pension income
Regarding audits, the following was reported: - The CRA conducted over 370,360 audit and review actions, including over 12,800 underground economy audits;
- The CRA completed 1,439 international audits, and 34,111 audits of tax shelters;
- The CRA completed 148 interprovincial tax avoidance cases, which resulted in more than $300 million worth of taxes being recovered.
Canada Pension Plan Changes  There are changes coming to the Canada Pension Plan (CPP) starting in 2011. They will not affect anyone who has retired or will retire in 2010 or 2011. The only exception is someone who receives CPP and continues to work.- The changes appear to be positive.
- There are four main changes.
- First, you will no longer have to stop working in order to apply for CPP benefits.
- Second, if you start receiving CPP benefits and continue working you will need to contribute to CPP. That is a change from current policy.
- Third, CPP uses a career average calculation which allows for certain years of low or no earnings to be disregarded in arriving at average earnings. This will help more Canadians come closer to receiving the maximum CPP pension.
- Finally, there will be adjustments (phased in over 3 years) to benefits for those who take CPP early or delay it until later. If you take CPP benefits early (age 60) they will be reduced by 6% up from the current 5%. If you delay CPP until age 70, your benefits will be increased by about 7%.
- For more information on CPP please click here.
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