In this issue:
Please visit our website following the Federal Budget on March 4th, 2010 to see our comments and overview. There will be a link on the home page.
We would like to thank Michelle Hayward, owner of the local TPI travel franchaise for the following tips and advice. Recent events just re-enforce the need to deal with a reputable travel consultant.
Travel Tips from Michelle Hayward, TPI
You have booked your business or leisure travel. Your planning is not complete until you have protected yourself legally, financially and physically.
Legally
- Make sure that you travel with the proper identification. A passport is the only reliable and universally accepted identification document for adults and children.
- A consent letter is recommended for children under 18 traveling who are travelling alone or with 1 parent.
- Prescription and over -the- counter medication need to be in their original containers.
- Be familiar with the customs of the country you will be visiting. For example: public displays of affection are illegal in some countries
- “Be Aware and Declare”, familiarize yourself with the exit requirements and customs regulations.
Financially
- Inform your credit card company of the destination and dates of your travel so they do not put a block on your credit card.
- Familiarize yourself with currency and exchange rates / ATM machines, credit cards & fees. Traveler’s cheques are no longer widely accepted.
- Protect your valuables - register your valuable before traveling outside Canada with Form Y38, Identification of Articles for Temporary Exportation.
- Purchase travel insurance to protect your travel investment for cancellation, interruption, acts of nature, and for medical emergencies.
Physically
- Your travel plans should include a consultation with your family physician or a travel medical clinic. Make sure that your immunization is up to date.
- Medical insurance is a must. MSI is not valid outside of Canada or in some Canadian provinces. Medical expenses can be very high and the level of care may not be the same quality as here in Canada.
- Crime doe not take a holiday. Be aware of your surrounding. Dress modestly be humble and remember there is safety in numbers.
- If you are traveling to an unsettled part of the world register with Foreign affairs.
This is provided so that government officials can contact and assist you with an emergency in a foreign country.
For more information on Protecting Yourself While Traveling visit www.voyage.gc.ca or contact Michelle Hayward, Travel Professionals International at 530-3430 or email This e-mail address is being protected from spambots. You need JavaScript enabled to view it .
Travel Professionals International is Home Based Travel Company with 750 travel consultants Canada-wide. Michelle Hayward’s office is located in Hebbville.
3rd Annual Red Cross Monte Carlo Night
This fun and exciting event will be held on Saturday March 6th at the Osprey Ridge Golf Club in the beautiful town of Bridgewater. Our event will include games of chance, blackjack, music by “Collage”, delicious food, and a silent auction.
Doors open at 7:30 PM and our gaming tables open at 8:00 PM
Stop by and visit our Corporate Challenge and see what all the excitement is about.
The Canadian Red Cross is hosting our Third Annual “Red Cross Monte Carlo Night” fundraiser during “March Is Red Cross Month”. All proceeds from this event will support our important work in responding to and preparing for local disasters and personal emergencies such as house fires.
The Lunenburg /Queens Red Cross has responded to the most calls recorded in recent years…
Over the past 12 months we have responded to over 18 residential house and apartment fires, assisting more than 70 individuals with six essential emergency services provide by the Canadian Red Cross.
The third annual “Red Cross Monte Carlo Night” promises to be a night full of fun that supports invaluable programs and services provided by your local Red Cross.
Tickets are available at your local Canadian Red Cross or by phoning 543-8565 and asking for Mya. If you are able to attend this important fundraiser and would still like to assist us, please contact Lisa at 543-8566 and (a) find out how about sponsorships, (b) donate an item to our Auction.
Thank you for your commitment to preparing our communities for the unknown.
In the spirit of humanity,
Lisa Linscott, Community Service Coordinator
42 Glen Allan Dr. Suite 102,
Bridgewater, NS B4V 3N2
Phone (902) 543-8565 Fax (902) 543- 7047
Tax Tips
With tax season upon us, we would like to thank AC Belliveau Veinotte Inc. for the following information.
BUSINESS/PROPERTY INCOME
GENERAL PURPOSE COMPUTER EQUIPMENT
A 100% Capital Cost Allowance (CCA) deduction rate applies to certain general-purpose computer equipment, including related system software and ancillary data processing equipment, that:
- is acquired after January 27, 2009 and before February, 2011;
- is situated in Canada; and
- is acquired for the purpose of earning income in Canada.
In addition, the property must be new. An example of ancillary data processing equipment is a printer that is connected to a general-purpose computer such as a desktop or laptop.
Also, in a July 13, 2009 External Technical Interpretation, CRA notes that a restaurant Point of Sale Computer System generally qualifies.
TAX-DEDUCTIBLE INTEREST EXPENSE
A procedure of selling non-registered securities, using the proceeds to pay off a personal debt, and then reborrowing to purchase securities may create tax deductible interest on the new debt.
This conversion of non-tax deductible interest into tax deductible interest has complexities which may require professional assistance.
BONUSES PAYABLE AND PAYROLL REMITTANCES
It is sometimes difficult to remember to make appropriate and timely source deductions for remuneration received from your corporation. However, failure to do so can carry significant costs.
Also, any remuneration not paid within 179 days of the end of the fiscal year in which it was accrued is nondeductible until is paid.
The best answer is to ensure that the source deductions are remitted on a schedule that demonstrates full payment of the bonus within 179 days of the fiscal year end.
OWNER-MANAGER REMUNERATION
DIRECTOR LIABILITY
Under the Income Tax Act, where a corporation has failed to remit source deductions or GST/HST, the directors at that time may be jointly and severally liable to pay that amount plus any interest or penalties to CRA.
However, a director is not liable where the director exercises the degree of care, diligence and skill to prevent the failure that a reasonably prudent person would have exercised in comparable circumstances.
In addition, no CRA action may be made against the director if more than two years has expired after the director last ceased to be a director of that corporation.
2010 Lunenburg Queens Business
The organizing committee for the 2010 Lunenburg Queens Business Excellence Awards are hard at work planning this year's event. A few of the pictures from past gala dinners are below:
Judy Koster, Chamber past president and committee chair working
Three of the committee members: Gail Veinotte (right) from Amos Pewter, Heather Fralic, ScotiaBank (centre) and Ann O'Connell Bridgewater and Area Chamber of Commerce (left) enjoying the reception prior to the 2009 awards dinner.
John Bryson (centre) is a committee member and he is shown with other representatives of Safe Home Security.
The beautiful awards designed by Amos Pewter
If you have news, information or comments about your business or local events please forward your information to This e-mail address is being protected from spambots. You need JavaScript enabled to view it before April 1, 2010 to have it included in the next newsletter.
Sales Seminar
March 18th, 2010
Thursday, March 18th, 2010. at the Days Inn from 8:30 am to 10:30 am.
This free seminar is presented by:
- Sandler Training
- The Centre for Women in Business and
- The Bridgewater & Area Chamber of Commerce.
If you’re working hard with frustrating results; if you find yourself worrying about hitting your goals.
Join us to learn why …
- In business development, you often work hard, but not productively
- You often get ‘think-it-overs’ instead of closing the deal
- You may be doing too much ‘unpaid consulting’
- Perhaps you’re wasting time with unqualified prospects
- You do wonderful presentations to people who will never buy from you
- Why you may feel uncomfortable picking up the phone
Ready for some new ideas?
Join Us For A FREE Executive Briefing
“Sell More …. Sell More Easily”
Thursday, March 18th, 2010
8:30-10:30 AM
With the Centre for Women in Business and
Bridgewater & Area Chamber of Commerce
To Register: Call 543-4263 or email This e-mail address is being protected from spambots. You need JavaScript enabled to view it
Register now...don't be disappointed.
Home Based Business Association
March 18, 2010
If you have a home based business and are a member of the Bridgewater and Area Chamber of Commerce you are welcome to join us for a presentation on tax tips on March 18, 2010
from 4:30 to 5:30 pm
More details will be posted on our website as they are confirmed.
COUNCIL OF CANADIANS presents EarthDream
March 19, 20, 21, 2010
SOUTH SHORE ENVIRONMENTAL FILM FESTIVAL
MAHONE BAY CENTRE
45 School Street, Mahone Bay
Free Admission. Donations welcome
*Storm dates: March 26, 27, 28
Friday March 19
7:00 pm The Story of Stuff
7:30 pm The Age of Stupid
Saturday March 20
2:00 pm Food Inc.
3:45 pm H2Oil + Discussion with Angela Giles (Council of Canadians)
7:30 pm The End of the Line + Discussion with Shannon Arnold
(Ecology Action Centre)
Sunday March 21
2:00 pm Selected Shorts
2:30 pm Feast or Famine
3:45 pm Discussion with Filmmaker Timothy Tracey
Blog: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
High School Provincial Hockey Championships
March 26, 27, and 28th, 2010
High School Provincial Hockey Championships are coming to Bridgewater.
The weekend long tournament will take place March 26th, 27th and 28th at the Bridgewater Memorial Arena.
The Bridgewater Vikings are the proud hosts for the 2010 Nova Scotia School Athletic Federation, Division 3 hockey championship games.
Our local businesses are encouraged to support this event and welcome the players, teams, coaches, families and friends of the participants.
Show your local pride with a message on your outside sign, in-store specials and your South Shore hospitality.
Come out and cheer for the local favorites and welcome the visiting teams.
For more information and the schedule please visit http://ssrsbstaff.ednet.ns.ca/dbudden/index.html
Thanks for your support.
Shawn O’Hara
Tournament Chair
Bridgewater Vikings
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