T4A Tax Slips for Canadian Income Taxes

Tax season is never a walk in the park, and having the deal with forms with confusing names that sound like Star Wars robots dont make it any better. But once you know what each form is for, filing taxes becomes just that much less of a nuisance. If you are working in Canada, you will most likely encounter the T4A Tax Slip. Here is a quick breakdown of what the T4A Tax Slip is and what to do with it. What Are T4A Tax Slips? A Canadian T4A tax slip, or Statement of Pension, Retirement, Annuity, and Other Income, is prepared and issued by an employer, a trustee, an estate executor or liquidator, a pension administrator, or a corporate director, to tell you and the ​Canada Revenue Agency (CRA) how much of certain types of income they paid you during a tax year and the amount of income tax that was deducted. Income covered by T4A tax slips includes: Pension or superannuationLump-sum paymentsSelf-employed commissionsAnnuitiesRetiring allowancesPatronage allocationsRESP accumulated income paymentsRESP educational assistance paymentsPayments under a wage-loss replacement planOther income, including death benefits, registered disability savings plan payments, research grants, scholarships, bursaries, fellowships, artists project grants, and prizes Note that pension income from Old Age Security is reported on the T4A(OAS) tax slip and amounts you received from the Canada Pension Plan (CPP) or Quebec Pension Plan (QPP) are reported on the T4A(P) tax slip. Deadline for T4A Tax Slips T4A tax slips must be issued by the last day of February the year after the calendar year to which the T4A tax slips apply. Sample T4A Tax Slip This sample T4A tax slip from the CRA site shows what a T4A tax slip looks like. For more information on what is included in each box on the T4A tax slip and how to deal with it when filing your income tax return, click on the box number in the pull-down menu or click on the box on the sample T4A tax slip. Filing T4A Tax Slips With Your Income Tax Return When you file a paper income tax return, include copies of each of the T4A tax slips you receive. If you file your income tax return using NETFILE or EFILE, keep copies of your T4A tax slips with your records for six years in case the CRA asks to see them. Missing T4A Tax Slips If you havent received a T4A tax slip, file your income tax return by the deadline anyway to avoid penalties for filing your income taxes late. Calculate the income and any related deductions and credits you can claim as closely as you can using any information you have. Include a note with the issuers name and address, the type of income, and what you have done to get a copy of the missing T4A slip. You are required to ask for a copy of the missing T4A slip. Include copies of any statements and information you used in calculating the income and deductions for the missing T4A tax slip. Other T4 Tax Information Slips Other T4 tax information slips include: T4 - Statement of Remuneration PaidT4A(OAS) - Statement of Old Age SecurityT4A(P) - Statement of Canada Pension Plan BenefitsT4E - Statement of Employment Insurance and Other BenefitsT4RIF - Statement of Income From a Registered Retirement Income FundT4RSP - Statement of RRSP Income

Why Has the Power of the Federal Government Expanded. Essay

Kenneth A. Cherisol AMH 2020 Prof. John Fitzgerald Nov 17, 2010 But WHY? Why has the power of the federal government expanded so significantly? Was this shift in power from state governments to the federal government necessary? Government power took a huge shifted from state government to federal government during and after the civil war. Although President Franklin D Roosevelt’s new deal is often considered the pivotal point that caused this shift, the major event attributing to this shift in power was the civil war. The first event that led to a growth in federal power was the ratification of the Constitution in 1789. Although the constitution is to protect the right of individuals and limit the power of government it led to†¦show more content†¦This led to the federal government passing tariffs of farm imports and in 1922 the Capper-Volstead act exempted agricultural cooperatives from antitrust laws. Another act, the Agricultural Credits act of 1923, made it easier for farmer to receive loans from the Federal Farm Board whi ch was established by the Agricultural Marketing Act of 1929. The federal Government also needed to regulate the power of businesses. The Federal Government began to limit the power of business by enforcing antitrust laws created by the Shermans act of 1890. Antitrust enforcement was another area in which Federal government increased in power. I believe the expansion of the Federal Government was necessary in every way to ensure the future of US. Before the civil war the states had most of the power dictating state laws and each was concerned with better its own states not looking at the nation as a whole. This led to issues such as the south having slaves and the north not allowing slavery. Eventually this led to the civil war. The federal government is necessary to regulate the powers of the states. Acts such as the civil rights act of 1964 led to equal treatment of individuals regardless of race or color. Even after the act the federal government had to enforce the laws on the south and rebuild the south’s state governments. The federal government’s power affects our daily lives from education toShow MoreRelatedAnalysis Of The Story Of Susette Kelo1737 Words   |  7 PagesRicardo Norris 9/17/14 Period 4B A.P. Government I. Introduction A. The story of Susette Kelo 1. Property denounced by city authorities 2. Longing to redevelop zone with pricey townhouses, shopping centers and an extensive lodging 3. Preeminent Court maintained the city s decision making a) Property could be seized for open utilization b) Property could be seized for monetary advancement in troubled groups B. What could anyone do about it? II. Why â€Å"federalism† matters A. Reaction to the KeloRead MoreThe Importance Of The Bill Of Rights1086 Words   |  5 PagesThe Importance of the Bill of Rights Kelley R. 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Sustainable Business Model Westpac Banking Corporation

Question: Discuss about the Sustainable Business Model for Westpac Banking Corporation. Answer: Introduction The concept of sustainability implies for businesses to adopt responsible business practices for ensuring protection of the environment, community and society. The implementation and adoption of a sustainable business model in organisations is essential for their long-term growth and success. This helps in maximising shareholder value and thus increasing the profitability of an organisation. Organisations adopting sustainable business model need to comply with all the governmental regulations for safeguarding the interest of all its stakeholders (Stubbs Cocklin, 2008). In this context, the present essay demonstrates the development of a sustainable business model by Westpac Banking Corporation through entering into collaborative partnerships with government regulations. Sustainable Business Model of Westpac Banking Corporation Westpac Banking Corporation is recognised as one of the leading public bank of Australia, headquartered in Sydney. The company mainly provides banking and financial services to corporate, institutional and government customers internationally (Westpac: Annual Report, 2008). It is regarded as the most sustainable company by a Toronta-based media company known as Corporate Knights. The company has developed a sustainable business model through abiding by all the governmental regulations of the countries in which it operates its business activities. Westpac is truly dedicated and committed to comply with all the necessary economic and trade regulations worldwide for meeting the expectations of the communities at large. The company is well-aware of the fact that working in collaborative partnerships with government regulations is necessary to enhance its brand reputation. The board of directions of the company have ensured that all its employees must be accountable by complying with all the sanction requirements (Westpac: Annual Report, 2008). Westpac has also established a workplace policy that provides guidance to the employees to follow with all the legal laws in all jurisdictions and the consequences of not obeying with the policy. The company is supervised and monitored by mainly five governmental agencies in Australia. These include Australian Prudential Regulation Authority (APRA), Reserve Bank of Australia (RBA), Australian Securities an Investments Commission (ASIC), Australian Securities Exchange (ASX) and Australian Competition and Consumer Commissions (ACCC) (Westpac Groups Principles for Doing Business, 2014). APRA mainly reviews and controls the capital adequacy and liquidity position of the company. APRA also determines the statutory and regulatory banking requirements to be met by Westpac for protecting the interests of consumers. RBA holds the responsibility of developing monetary policy, managing Australian foreign reserves and issuing its currency notes (Westpac Group: US Resolution Plan, 2013). ASIC is mainly responsible for enforcing necessary laws and regulations for protecting the interest of the investors and creditors. The implementation of the financial laws for maintaining honesty and fairness in the business operations of Westpac is undertaken by ASIC. ASIC enforces regulations in relation to general insurance, life insurance, retirement savings and securities on banking industry in Australia. ASX regulates the countrys market for securities and Westpac is listed on ASX and thus have to abide by its contractual obligations. ACCC promotes the necessary laws and regulations relating to the prohibition of anti-competitive and unfair market practices in the country. The government of the country has currently adopted a policy known as four pillar policy according to which the four major banks in Australia holds the responsibility of maintaining proper competition level in the banking industry. Westpac, a leading four pillar bank in Australia, has to comply with the ACCC regula tions and thus have to adopt business practices that does not eliminate or reduce competition level (Westpac: Annual Report, 2008). Westpac operates its business activities on an international level and thus also works in collaborative partnership with other countries government regulations to achieve sustainability. The Reserve Bank of New Zealand (RBNZ) has implemented the regulations on foreign banks to carry out their business in the country either through a branch or subsidiary of its parent company (Westpac: Annual Report, 2008). Westpac complies successfully with these statutory requirements and operates its business activities in New Zealand through dual registration. The company has established its subsidiary Westpac New Zealand and also have its NZ Branch for offerings its financial and banking services to its New Zealand (NZ) consumers. The company conducted its business operations in the country through its NZ branch till the year 2006 but opened its subsidiary thereafter in order to follow the policy of RBNZ. The policy of dual registration was adopted by Westpac to carry out its banking services in the country without causing any disruption to the investors and customers. The development of a subsidiary has enabled the bank to carry out its banking operations in NZ efficiently and economically without having any impact on the continuity of its services (Westpac: Annual Report, 2008). The New York branch of Westpac is a federally licensed branch and is supervised and controlled by the International Banking Act (IBA) and the US Federal Reserve. The International Banking Act (IBA) states that foreign banks are not allowed to establish a branch or representative office in the US without the approval of the US Federal Reserve (Westpac Group: US Resolution Plan, 2013). Also, US Federal Reserve has maintained that the foreign bank branch should not have more than 5% voting stock in any of the US bank. US comptroller of the Currency has determined the capital equivalency deposit that should be maintained by a federal branch with US Federal Reserve. The federal branch of the company in the US complies with all these necessary laws and regulations of the countrys government. In addition to this, Westpac also complies with the USA Patriot Act according to which all the US branches of foreign banks must be reviewed by the US financial institutions for preventing the occurren ce of any money laundering activities. The review includes obtaining verification of the foreign bank branch and gaining appropriate information about its owner. The US branch of Westpac in this context has adopted and implemented an anti-money laundering program for identification and reporting of suspicious activities for protecting the interest of its customers in the country (Westpac Group: US Resolution Plan, 2013). Westpac complies with United Nations Security Council (UNSC) sanctions of all the jurisdictions in which it aims to operate its business activities. Sanctions are referred to as tools used by governments for controlling the occurrence of any adverse situation that may have negative on the economic growth and development of a country (Westpac Group Sanctions Policy, 2014). In this context, Westpac meets Australian sanctions requirements effectively and also the sanction regimes followed in other countries where it carries out its business activities. The company does not conduct any business activities that do not comply in accordance with the sanctions of Australia. The business procedures of the company are developed in accordance with the laws and regulations of sanctions regimes to carry out its business in collaborative partnerships with government (Westpac Group Annual Review and Sustainability Report 2012, 2012). The breach of sanctions is reported by Westpac to the concerned a uthority for overcoming its adverse effects in the future context. The company provides proper training to the employees so that they abide with all the sanctions regimes both at domestic and international level. The training helps in providing adequate information to the employees about the possible consequences of breaching any of the sanctions (Westpac Group Sanctions Policy, 2014). Westpac is recognised as the first bank to join the Green Challenge Plus of the Australian governments. The greenhouse challenge is a join program that is mainly carried out between Australian government and its industries. The main aim of the program is to reduce the emission of greenhouse gases from Australian industry sector (Albrecht, 2002). Westpac signed an agreement with government that provided a framework for undertaking actions to reduce the emission of greenhouse gases (Smith, 2014). Westpac is recognised worldwide as having implemented the best sustainable business model and it has achieved this position by complying with all the governmental rules and regulations. The development of a collaborative partnership with the government regulations has enabled the company to maintain transparency in all its business operations. The company develops voluntary disclosures for disclosing its corporate responsibilities towards environment, employees, customers, suppliers and the communities. Also, it develops a stakeholder impact report (SIR) providing a full assessment of the sustainability measures adopted by the company (Westpacs squashed tomato: a sustainability leader, 2010). The introduction of such strategic measures to adopt sustainable business practices has enabled Westpac to enhance its brand reputation on an international level. Thus, it can be said that complying with all the statutory and legal requirements related to sustainability has enabled the company t o gain support from the government authorities. This has facilitated Westpac to develop a sustainable business model responsible for its worldwide success (Benn et al., 2014). Conclusion The discussion held in the essay concluded that entering into collaborative partnerships with government regulations facilitates organisations to develop a sustainable business model. Westpac has demonstrated a perfect business example of achieving sustainability through complying with all the government regulations and thus seeking support for its business activities by the jurisdictions. The company has adopted transparency in all its business processes through abiding with the governmental regulations that enabled it to achieve sustainability. It appropriately follows all the sanction regimes at both domestic and international level through which has strengthened its brand image worldwide and proved to be beneficial in gaining mutual support from the government. References Albrecht, J. (2002). Instruments for Climate Policy: Limited Versus Unlimited Flexibility. Edward Elgar Publishing. Benn, S. et al. (2014). Organizational Change for Corporate Sustainability. Routledge. Smith, J. (2014). The World's Most Sustainable Companies of 2014. [Online]. Available at: https://www.forbes.com/sites/jacquelynsmith/2014/01/22/the-worlds-most-sustainable-companies-of-2014/#7cefb6834d97 [Accessed on: 27 August 2016]. Stubbs, W. Cocklin, C. (2008). Conceptualizing a Sustainability Business Model. Organization Environment 21 (2), 103-127. Westpac Group Annual Review And Sustainability Report 2012. (2012). [Online]. Available at: https://www.westpac.com.au/docs/pdf/aw/ic/2012_Annual_Review_and_Sustainability_Report.pdf [Accessed on: 27 August 2016]. Westpac Group Sanctions Policy. (2014). [Online]. Available at: https://www.westpac.com.au/docs/pdf/aw/Westpac_Group_Sanctions_Policy.pdf [Accessed on: 27 August 2016]. Westpac Group: US Resolution Plan. (2013). [Online]. Available at: https://www.federalreserve.gov/bankinforeg/resolution-plans/westpac-bking-3g-20131231.pdf [Accessed on: 27 August 2016]. Westpac Groups Principles for Doing Business. (2014). [Online]. Available at: https://www.westpac.com.au/docs/pdf/aw/Principles_for_doing_business.pdf [Accessed on: 27 August 2016]. Westpac: Annual Report. (2008). [Online]. Available at: https://info.westpac.com.au/annualreport2008/default.aspx?PID=150 [Accessed on: 27 August 2016]. Westpacs squashed tomato: a sustainability leader. (2010). [Online]. Available at: https://www.cimaglobal.com/Thought-leadership/Newsletters/Insight-e-magazine/Insight-2010/Insight-May-2010/Westpacs-squashed-tomato-a-sustainability-revolution/ [Accessed on: 27 August 2016].

World History Centered on Europe

Questions: 1. Did this Eurocentric attitude and behavior have a lasting impact on the world as a whole? 2. In what ways did the close-minded and arrogant beliefs of these explorers impact the world and are these effects still evident today? 3. Did this behavior set up a system of racism and bigotry that is still felt in modern times? Answers: 1. Euro centrism refers to the practice of putting emphasis on European concern, values and cultures. The period 1400-1800 was the period for discovery and exploration. It was during this period that Europe tried to have a dominating influence over the whole world. They sailed around the world in huge sturdy ships to discover new lands. The Euro centric attitude had an impact upon the whole world. Regions around the globe bear names after European explorers and are in direction of Eurocentric view of the world. History of technology, science and mathematics is Eurocentric as they hardly refer to contributions from regions like India nad China. 2. European explorers had a positive effect upon the people of the rest of the world. The Europeans allowed them to change their ways of living, mostly for better. The European explorers spread Christianity. They influenced their fashion, beliefs, principles as well as religion. Europeans tried to make the world acquainted with technological advance. In present times also Europe has a great influence. Europe has successfully exerted its power throughout the world. Europe has succeeded in spreading its power all over the world because it has adapted itself to the modern world. They constructed ports and empires in Africa, Asia, North America and several other regions. One of their prime motives was to spread Christianity amongst the ones they have invaded. The Europeans had several other influences upon the people they invaded. They managed to change their religion, beliefs and principles. (Wallerstein) Thus we can say that Africans, Americans, Asians have been greatly influenced by t he Europeans. (Thornton) The European market is one of the most interconnected market in the world. Today Europe doesnot just make rules and regulations inside Europe but even outside Europe. Europe may be referred to as economic powerhouse. Europeans have greatly influenced the modern world with their achievements. It plays its power effectively. These are the ways in which Europeans had an impact on the world in early as well as present times. 3. Racism is the intolerance of a particular class of people bearing certain biological make up towards another bearing different biological make up which in turn leads to the domination of one class of people. Racism is based on differences that are unalterable and hereditary. Bigotry means bearing unfair intolerance towards a particular class of people. The evolution of racism may be traced to the times of European exploration. (Lander) As there increased encounter between more and more people the concepts of race began to develop. People were subjected to differential treatment depending upon the race to which they belonged. The more the Europeans came in contact with Asians and Africans the concepts of racism started gaining force. Slavery is one of the examples of racism practiced by the Europeans. The present century has seen a lot of changes as far as racism is concerned. Legislations have been enacted to prevent racism. Inspite of everything the ancient barriers between races still exist though they are invisible. (Ucelli and O'Neil) References Lander, Edgardo. 'Eurocentrism, Modern Knowledges, And The Natural  Order Of Global Capital'. Print. Thornton, John. Africa And Africans In The Making Of The Atlantic World, 1400-1800. 2nd ed. 1999. Print. Ucelli, Juliet, and Dennis O'Neil. 'Challenging Eurocentrism'. (2015): n. pag. Print. Wallerstein, Immanuel. 'Eurocentrism And Its Avatars- The Dilemmas Of Social Science'. Web. 15 May 2015.