Effective January 1, 2012, the federal government’s new rules with regards to Canada Pension Plan (“CPP”) contributions will become a reality.  Please see the below attached Bulletin in PDF format.

Laberge Venne and Partners (LVP) has been named “Company of the Year” by the Greater Sudbury Chamber of Commerce.  Partner Mark Laberge accepted the award on behalf of LVP at last night’s Business Excellence Awards, held at the Caruso Club.

“Our team is so proud of this recognition,” says Laberge, “As you can imagine, accounting isn’t known for being very sexy or glamourous – but we see ourselves as an organization that’s helped thousands of clients flourish and grow over the years.”

Laberge believes one of the qualities that helped LVP win this recognition is the work it does outside client boardrooms.

 “Like many successful businesses in the North, we believe a company is more than a spreadsheet and payroll,” Laberge adds, “It’s how a company gives back to the community that gives it heart. And, we’re proud of the fact that LVP sponsors local charitable events and our partners and staff members sit on a variety of charitable and non-profit boards. And, we now see our clients doing it as well.”

CRA recently announced a new policy regarding the type of records that must be kept to substantiate a deduction for vehicle expenses, or GST/HST input tax credits, where a vehicle is used partly for business and partly for personal purposes. Previously, CRA required a detailed record to be kept for each vehicle of all kilometers driven throughout the year. The new method involves establishing business use of a vehicle in a base year, then keeping detailed records for only a three-month period in each subsequent year and extrapolating the results (provided subsequent years' business usage aligns broadly with usage in the base year).  The following link to the CRA’s website provides further details:  http://www.cra-arc.gc.ca/whtsnw/lgbk-eng.html