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GCSE, Green Chencinski
Starkman Eles LLP Chartered Accountants, is a full-service, public
accounting firm, primarily serving the small and mid-size, entrepreneurial
business and professional sectors in Toronto Canada. GCSE’s experienced
partners and professional, support
staff strive to provide accounting and
advisory services using an invaluable personal approach, designed
to meet each client’s individual needs. This “personal touch”, combined
with a full range of accounting, auditing, tax compliance and planning
services allows GCSE to meet all your business
and personal accounting requirements. |
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GST Penalties No Longer Deductible
Under rules introduced a number of years ago, fines or penalties imposed under the law of a country and its political subdivisions, including foreign jurisdictions, are not deductible. This would include municipal parking tickets.
Specific fines and penalties had been exempted. This included penalty interest under the GST and penalties under the Air Travellers Security Charge Act. Beginning April 1, 2007, these amounts were no longer deductible as a means of harmonizing provisions of the various legislation administered by the Tax Department. |
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