Jones & O'Connell Accountants in Niagara OfficeWelcome to Jones & O’Connell LLP

Proudly serving the Niagara Region and beyond

Jones & O’Connell LLP, Chartered Professional Accountants operates out of St. Catharines, Ontario, Canada. We offer a wide range of financial services including: Accounting, Auditing, Corporate and Personal Tax Compliance and Planning, Human Resource Consulting, Financial Advice and General Consulting, to clients in various industry sectors across the Niagara Region, GTA and other geographic regions.

Jones & O’Connell LLP, Chartered Professional Accountants is a licensed public accounting firm and a member of: the Canadian Public Accountability Board, Chartered Professional Accountants of Canada, Chartered Professional Accountants of Ontario, The Institute of Internal Auditors and the Canadian Tax Foundation.

At Jones & O’Connell LLP, Chartered Professional Accountants we strive to be the number one resource for all of our clients’ financial needs. Our goal is to be the firm that clients can trust and rely upon to provide outstanding value in a cost effective manner. We welcome the opportunity to meet with you and discuss how we can develop a mutually beneficial relationship into the future.

The team at Jones & O’Connell LLP, Chartered Professional Accountants is ready to exceed your expectations!

Commentary

Income splitting

Income splitting is where a high income earner transfers some income to a lower-income family member who is taxed at a lower marginal rate. This tax saving tactic is great for families but the government stands to loose billions of tax revenue per year if everyone was allowed to income split without limits.

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ACCOUNTING, AUDITING, TAX AND CONSULTING NEWS

What to do with an instalment reminder from the CRA

For most Canadians, income taxes owed are deducted by their employer from their paycheques and remitted to the CRA on their behalf. For others, especially the newly retired, or perhaps the newly self-employed, who have been accustomed throughout their entire working life to having tax deducted from their paycheque and then remitted to the CRA on their behalf, the idea of paying taxes by instalment is unfamiliar and puzzling.

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