2010    Personal Tax Control Record
                           
This questionnaire will help us to prepare and file an accurate income tax return for you.  Please take a few minutes to read and answer all of the questions.  If you are not certain if some of the questions apply to you call us at 403-228-6007 and we will be happy to provide guidance.
                           
Information for 2010 taxes:                          
                           
 Client:  SIN                    DOB                 Eng
LtrT3		 T4 T4A T4AP T4RIF T4RSP T4RCA T4E T4OAS T5008 RC62
1.                          
2.                          
3.                          
4.                          
5.                          
                           
New Client Profile: Client 1 Client 2 Client 3 Client 4 Client 5          
- Is Privacy Consent required?                    
- Is the client a Canadian Citizen?                    
- Is the client a US citizen?                    
- Confirm identity with Driver's License scan.                    

- Record name, address, b date, SIN,marital status.

                    
- Record the spouse’s (or common law partner’s) name, birth date, and SIN, regardless of whether the spouse has also engaged us.                          

- Record the dependants’ names, bds, and SIN.

                          

- Review last year's tax return for the prior year and compare to the current year return all entries.

                          
- Order a multi-year data report from the CRA. (Includes history of capital gains/losses, CNIL account, other carry-forward data)                          
- A signed T1013 form (and, if applicable, a RC59 )                          
                           

Continuing client profile update.

                          

a) Has the client’s address changed?

                          

b) Are there any changes in dependants? Obtain names and birth dates of all children born during the year.

                          
c)  Is there a change in marital status? If so, obtain the date of change, and spouse’s name, SIN, and birth date, if applicable.                          
                           
- Review the ly NOA & update T1 cfwd information.                          
                           
- Does the client wish to authorize CRA to provide his or her name, address and date of birth to Elections Canada for the National Register of Electors?                          
Does the client spend sufficient time in the United States to require reporting to the IRS?                          
                           
Personal tax checklist                          

Consider any requirements for information reports regarding foreign property and affiliates:

                          
                           
a)  Did the client own or hold foreign property at any time in the year with a total cost of more than $100,000? (T1135)                          
                           
b)  Does the client have any involvement or transactions with a non-resident trust or closely held non-resident corporation? (T1141, T1142)                          
                           
c)  Does the client have any foreign affiliates? (T1134A or B)                          
                           

d) Does the client wish to start or change direct deposit of tax refunds, GST credits, and/or child tax benefits?

                          
                           

n) Canada Savings Bond withdrawal slips

                          
                           
o) Other tax slips reporting income                          
                           
Obtain details of any employment income received that was not reported on a T4 slip, such as management or directors fees or tips.                          
                           

If the client is a member of a partnership or joint venture, obtain or prepare:

a) a copy of the financial statements;

b) a summary of drawings and contributions;

c) details of additions and disposals of cap assets;

d) T5013 – Stmnt of p'ship inc, if applicable; and

e) details of expenses incurred that were not reimbursed by the partnership.

                          
                           

Obtain information regarding foreign income, including:

                          

a)        Foreign pensions or social security, 

           including those exempt under a treaty;

b)       Any other foreign income;

c)        Tax slips or tax returns reporting foreign    

           taxes withheld or paid.

                          
                           

If the client has income from the following sources, obtain revenue & expense information and details of any additions or disposals of capital assets:

a)        Rental income

b)       Business income

c)        Professional income

d)       Commission income

e)        Farming and fishing income

Additionally:

a)        Consider any GST implications of these

          business ventures.

b)       Prepare GST return, if engaged to do so.

c)        For any recapture of CCA in classes 2 to 12,

          consider moving all these assets to class 1

          using a special election to defer recapture.

d)       Consider the replacement property rules to

          defer the recapture of CCA when

          appropriate. 

                          
                           

If the client sold any assets (such as real estate, depreciable property, bonds, stocks, mutual funds, farm property, personal use property), obtain the following, as applicable:

a)        the amount of the sale proceeds,

b)       the selling costs (including commissions,    

          legal fees, etc.),

c)        the date of purchase and the original cost of

          the property,

d)       details of any changes to the adjusted cost

          base of the property (such as carrying costs, any return of capital, capital gains elections claimed in 1994, any reinvestments of income, any deductions for losses claimed in previous years),

e)        the valuation day value if the property was purchased before January 1, 1972,

f)        detailed schedules of transactions and distributions from investment advisors, and

g)        T5008 – Statement of Securities Transactions.

 

                          
                           

Obtain information regarding all other income, including:

a)        Support payments received whether taxable or not, including alimony, separation allowances, and child maintenance,

b)       Home Buyer’s Plan or Lifelong Learning Plan withdrawals from an RRSP,

c)        Interest income earned but not yet received, for which no tax slip was received,

d)       Scholarships, fellowships, or bursaries for which no tax slip was received, and

e)        Any other income.

 

                          
                           

Deductions from total income

                          
                           
Tax credits                          

Obtain the following information for non-refundable tax credits, if applicable:

a) T2201 – Disability tax credit certificate for client

    or dependant, prepared by a physician,

b) Interest receipts for qualifying student loans,

c) T2202A – Tuition and edu deduction certificate,

d) Medical expenses,

e) Charitable donation receipts,

f)  Overseas employment tax credit information,

g) Political contribution receipts,

h) T5006 – labour sponsored funds tax credit, and

i)  Foreign tax credits. 

                          
                           

Obtain the following information for refundable tax credits. If applicable:

a)        Tax instalments paid, and

b)       Provincial tax credit information. 

                          
                           
Preparation                          
Compare current year return to prior years to identify any items that may be missing.                          
                           
                           
                           
                           
                           
  

                                                                                                  Moberly & Company

                                                                                               Letter of Engagement

 

Dear ____________________________________                                            

The purpose of this letter is to set out a clear understanding of the terms, nature and scope of my involvement as the preparer of your personal income tax return for 2010 and your responsibilities as the taxpayer. We appreciate the opportunity to prepare your personal tax return and advise you on tax matters. Canada Revenue Agency (CRA) imposes penalties upon taxpayers and upon us as tax return preparers for failure to observe due care in reporting on your income tax returns. It is therefore desirable to have a clear understanding of the terms of our engagement for preparing your tax returns for this and and any year required.

Your Responsibilities:

(a) The accuracy and completeness of the information in your return is your responsibility under the Income tax Act. We will prepare the return solely on information provided by you.

(b) You represent that the information supplied to me, to your knowledge is correct, complete, and fully discloses all of your reporting requirements under the Income Tax Act.

(c) You confirm that you have provided me with all income and deduction items to be included in your tax return and that they are correct and complete.

(d) You confirm that all sources of income have been disclosed, all deductions were incurred to earn income and all credits claimed are supported by receipts. Specifically:

     (i)  All business (including commission. farming, and professional incomes) and rental schedules present the results of operations and include all material transactions.
     (ii)  All income and benefits from employment have been reported whether or not they are on T3, T4 or T5 slips.
     (iii) All income from investments (received or not) have been reported, whether or not they are on T3 or T5 slips.
     (iv) All dispositions of a capital nature and their costs have been reported.

(e) All estimates of personal use of automobile, business portion of residence, and other such estimates that you have provided are reasonable and supported by usage logs and other evidence.

(f) If you owned certain property outside of Canada totalling more than $100,000 at any time during the tax year it may be necessary for you to declare such ownership in your tax return(s). There are substantial fines and penalties for non-compliance. Check one of the following:
| | You confirm that you have provided me with correct and complete information with regard to pwnership of, or beneficial interests in specified foreign property as reported on the Foreign Income Verification Statement (T1 135). You have fully disclosed the related foreign income.
| | You confirm that you did not, at any time in the tax year own or hold beneficial interests in specified foreign property* totalling more than $100,000.

(g) You are not aware of any illegal or possibly illegal acts where you have not disclosed to me all related facts.

(h) You should advise me of any communications that you may have with the Canada Revenue Agency (CRA). If you are advised by the CRA that you must sign documents and are not absolutely certain of their nature you will should have them reviewed by us prior to signing. We will assist you in providing additional information or explanations related to our preparation of your returns should Canada Revenue Agency request it. In the event that CRA selects your return for review we will be available upon request to represent you.

(i) We will prepare your tax returns according to the law and the information that you have provided. We will not audit, review or otherwise attempt to verify the accuracy or completeness of the information provided. It is your responsibility to provide us with accurate and complete information. Your return(s) will say, "Prepared without audit from information supplied by the taxpayer."

My Responsibilities:

(a) It is our responsibility to prepare your tax returns according to the law and the information that you have provided. We will not audit, review or otherwise attempt to verify the accuracy or completeness of the information provided. Your return(s) will say, "Prepared without audit from information supplied by the taxpayer."

We will assist you in providing additional information or explanations related to our preparation of your returns should Canada Revenue Agency request it. In the event that CRA selects your return for review we will be available upon request to represent you.

(b) We will not audit, review or otherwise attempt to verify the accuracy or completeness of any information provided.

(C) If the income tax return contains any business or rental forms or schedules for which we compile the figures I will include with such forms or schedules the statement referenced in (c). If you circulate such forms or schedules with or separate from the income tax return you agree to include this report and to provide me with the name(s) of the party(s) to whom they are circulated.

Nature of Engagement

I am accepting this engagement as an accountant, not as an auditor.

Error, Fraud or Other Irregularities:

This engagement cannot be relied upon to prevent errors or detect errors or other irregularities in the information provided to us. I emphasize that any responsibility for the prevention and detection of error and fraud and other irregularities must remain with you.

FEES

Our fees are based on the time and the degree of responsibility, skill required, the general condition of the records, the volume and nature of transactions, unexpected problems and the amount of assistance received from you. Grant Moberly, CGA will invoice at $125.00 per hour but most of the preliminary work with be prepared by a senior accountant billing at $65.00 per hour. Any disbursements will be added to the billing. Invoices will be due upon receipt.

USE OF ELECTRONIC COMMUNICATIONS:

I will correspond with you by electronic means, including: email, email with PDF attachments, website downloads, password protected website disclosures, and other electronic media unless you instruct me in writing to the contrary. I will take your instructions by electronic means, including email and email with various forms of electronic document attachments. Such electronic communications will contain confidential and sensitive information. You assume the risk of delivery failures, security breaches, timeliness, confidentiality breaches, incompatibility, incompleteness and unauthorized access in respect of any document during or as a result of its electronic transmission. If communication relates to a matter of significance on which you wish to rely and you are concerned about possible effects of electronic transmission you should request a printed copy of such transmission from me. If you wish to protect all or certain documents transmitted by the use of a password, you should discuss this with me and I will make appropriate arrangements, although the use of passwords does not guarantee unauthorized access.

PRIVACY MATTERS

Our written privacy policy may be reviewed by accessing our website at: http://www.gmoberly.ca/PrivacyPolicy.htm. In the interests of respecting privacy of all individuals, we will need a signed consent form from all family members if one member is designated to communicate with Moberly & Company on their behalf.

Specifically, regarding preparing personal taxes for clients and their family members we need a signed consent form from those family members who we will not be interviewing.

Consent to Discuss Personal Matters on My Behalf

I _______________ hereby request that Moberly & Company review my tax-related information, receive tax-related documents, and prepare tax returns on my behalf.

I hereby provide consent to ____________________________ acting as my representative, to discuss my personal, income tax related matters with Moberly & Company representatives for the purpose of preparing my personal income tax returns.

WORKING PAPERS:

All working papers and files, other materials, reports and work created, developed or performed during the course of the engagement shall belong to me. Please contact me if you have any questions about the contents of this letter.

If the services outlined are in accordance with your requirements and if the above terms are acceptable to you, please sign and date this letter in the space provided below and return it to me prior to my commencement in preparing your personal tax return. I appreciate the opportunity of continuing to be of service to you.

Yours very truly,

_____________________________________

Moberly & Company

####################

 
 

 

 

 

 

 

 

 

 
                           

THE MOBERLY & COMPANY PRIVACY CODE

Table of Contents

Introduction

Summary of Principles

Scope and Application

Definitions

The Moberly & Company Privacy Code in Detail

Principle 1 - Accountability

Principle 2 - Identifying Purposes for Collection of Personal Information

Principle 3 - Obtaining Consent for Collection, Use or Disclosure of Personal Information

Principle 4 - Limiting Collection of Personal Information

Principle 5 - Limiting Use, Disclosure, and Retention of Personal Information

Principle 6 - Accuracy of Personal Information

Principle 7 - Security Safeguards

Principle 8 - Openness Concerning Policies and Procedures

Principle 9 - CLIENT and Employee Access to Personal Information

Principle 10 - Challenging Compliance

Additional Information

Introduction

At Moberly & Company, respecting privacy is an important part of our commitment to our CLIENTS and employees. That is why we have developed The Moberly & Company Privacy Code. The Moberly & Company Privacy Code is a statement of principles and guidelines regarding the minimum requirements for the protection of personal information provided by Moberly & Company to its CLIENTS and employees. The objective of The Moberly & Company Privacy Code is to promote responsible and transparent personal information management practices in a manner consistent with the provisions of the Personal Information Protection and Electronic Documents Act (Canada).

Moberly & Company will continue to review The Moberly & Company Privacy Code to make sure that it is relevant and remains current with changing industry standards, technologies and laws.

Summary of Principles

Principle 1 - Accountability

Moberly & Company is responsible for personal information under its control and shall designate one or more persons who are accountable for Moberly & Company’s compliance with the following principles.

Principle 2 - Identifying Purposes for Collection of Personal Information

Moberly & Company shall identify the purposes for which personal information is collected at or before the time the information is collected.

Principle 3 - Obtaining Consent for Collection, Use or Disclosure of Personal Information

The knowledge and consent of a [CLIENT/CUSTOMER] or employee are required for the collection, use, or disclosure of personal information, except where inappropriate.

Principle 4 - Limiting Collection of Personal Information

Moberly & Company shall limit the collection of personal information to that which is necessary for the purposes identified by Moberly & Company. Moberly & Company shall collect personal information by fair and lawful means.

Principle 5 - Limiting Use, Disclosure, and Retention of Personal Information

Moberly & Company shall not use or disclose personal information for purposes other than those for which it was collected, except with the consent of the individual or as required by law.

Principle 6 - Accuracy of Personal Information

Personal information shall be as accurate, complete, and up to date as is necessary for the purposes for which it is to be used.

Principle 7 - Security Safeguards

Moberly & Company shall protect personal information by security safeguards appropriate to the sensitivity of the information.

Principle 8 - Openness Concerning Policies and Procedures

Moberly & Company shall make readily available to CLIENTS and employees specific information about its policies and procedures relating to the management of personal information.

Principle 9 – [CLIENT/CUSTOMER] and Employee Access to Personal Information

Moberly & Company shall inform a [CLIENT/CUSTOMER] or employee of the existence, use, and disclosure of his or her personal information upon request and shall give the individual access to that information. A [CLIENT/CUSTOMER] or employee shall be able to challenge the accuracy and completeness of the information and have it amended as appropriate.

Principle 10 - Challenging Compliance

A [CLIENT/CUSTOMER] or employee shall be able to address a challenge concerning compliance with the above principles to the designated person or persons accountable for Moberly & Company’s compliance with The Moberly & Company Privacy Code.

Scope and Application

The ten principles that form the basis of The Moberly & Company Privacy Code are interrelated and Moberly & Company shall adhere to the ten principles as a whole. Each principle must be read in conjunction with the accompanying commentary. As permitted by the Personal Information Protection and Electronic Documents Act (Canada), the commentary in The Moberly & Company Privacy Code has been drafted to reflect personal information issues specific to Moberly & Company.

The scope and application of The Moberly & Company Privacy Code are as follows:

- The Moberly & Company Privacy Code applies to personal information collected, used, or disclosed by Moberly & Company in the course of commercial activities.

- The Moberly & Company Privacy Code applies to the management of personal information in any form, whether oral, electronic or written.

- The Moberly & Company Privacy Code does not impose any limits on the collection, use or disclosure of the following information by Moberly & Company:

(a)     an employee’s name, title or business address or telephone number;

(b)     information that Moberly & Company collects, uses or discloses for journalistic, artistic or literary purposes and does not collect, use or disclose for any other purpose; or

(c)     other information about the individual that is publicly available and is specified by regulation pursuant to the Personal Information Protection and Electronic Documents Act (Canada).

- The Moberly & Company Privacy Code will not typically apply to information regarding Moberly & Company’s corporate CLIENTS. However, such information may be protected by other Moberly & Company policies and practices and through contractual arrangements.

- The application of The Moberly & Company Privacy Code is subject to the requirements and provisions of the Personal Information Protection and Electronic Documents Act (Canada), the regulations enacted thereunder, and any other applicable legislation or regulation.

Definitions

collection: The act of gathering, acquiring, recording, or obtaining personal information from any source, including third parties, by any means.

consent: Voluntary agreement for the collection, use and disclosure of personal information for defined purposes. Consent can be either express or implied and can be provided directly by the individual or by an authorized representative. Express consent can be given orally, electronically or in writing, but is always unequivocal and does not require any inference on the part of Moberly & Company. Implied consent is consent that can reasonably be inferred from an individual’s action or inaction.

[CLIENT/CUSTOMER]: An individual who purchases or otherwise acquires or uses any of Moberly & Company’s products or services or otherwise provides personal information to Moberly & Company in the course of Moberly & Company’s commercial activities.

disclosure: Making personal information available to a third party.

employee: An employee of or independent contractor to Moberly & Company.

personal information: Information about an identifiable individual, but does not include the name, title, business address or telephone number of an employee of an organization.

third party: An individual or organization outside of Moberly & Company.

use: The treatment, handling, and management of personal information by and within Moberly & Company or by a third party with the knowledge and approval of Moberly & Company.

The Moberly & Company Privacy Code in Detail

Principle 1 - Accountability

Moberly & Company is responsible for personal information under its control and shall designate one or more persons who are accountable for Moberly & Company’s compliance with the following principles.

1.1                Responsibility for compliance with the provisions of The Moberly & Company Privacy Code rests with the Moberly & Company Privacy Officer who can be reached at [INSERT 1-800 PHONE NUMBER] or via [INSERT E-MAIL]. Other individuals within Moberly & Company may be delegated to act on behalf of The Moberly & Company Privacy Officer or to take responsibility for the day-to-day collection and/or processing of personal information.

1.2                Moberly & Company shall make known, upon request, the title of the person or persons designated to oversee Moberly & Company’s compliance with The Moberly & Company Privacy Code.

1.3                Moberly & Company is responsible for personal information in its possession or control. Moberly & Company shall use contractual or other means to provide a comparable level of protection while information is being processed or used by a third party.

1.4                Moberly & Company shall implement policies and procedures to give effect to The Moberly & Company Privacy Code, including:

(a)     implementing procedures to protect personal information and to oversee Moberly & Company’s compliance with The Moberly & Company Privacy Code;

(b)     implementing procedures to receive and respond to complaints or inquiries;

(c)     training and communicating to staff about Moberly & Company’s policies and procedures; and

(d)     developing information materials to explain Moberly & Company’s policies and procedures.


 

Principle 2 - Identifying Purposes for Collection of Personal Information

Moberly & Company shall identify the purposes for which personal information is collected at or before the time the information is collected.

2.1.              Moberly & Company collects personal information only for the following purposes:

[INSERT IDENTIFYING PURPOSES – LEGAL REVIEW NECESSARY]

Further reference to “identified purposes” mean the purposes identified in this Principle.

2.2.              Moberly & Company shall specify orally, electronically or in writing the identified purposes to the [CLIENT/CUSTOMER] or employee at or before the time personal information is collected. Upon request, persons collecting personal information shall explain these identified purposes or refer the individual to a designated person within Moberly & Company who can explain the purposes.

2.3.              When personal information that has been collected is to be used or disclosed for a purpose not previously identified, the new purpose shall be identified prior to use. Unless the new purpose is permitted or required by law, the consent of the [CLIENT/CUSTOMER] or employee will be acquired before the information will be used or disclosed for the new purpose.

Principle 3 - Obtaining Consent for Collection, Use or Disclosure of Personal Information

The knowledge and consent of a [CLIENT/CUSTOMER] or employee are required for the collection, use, or disclosure of personal information, except where inappropriate. In certain circumstances personal information can be collected, used, or disclosed without the knowledge and consent of the individual.

3.1.              In obtaining consent, Moberly & Company shall use reasonable efforts to ensure that a [CLIENT/CUSTOMER] or employee is advised of the identified purposes for which personal information will be used or disclosed. The identified purposes shall be stated in a manner that can be reasonably understood by the [CLIENT/CUSTOMER] or employee.

3.2.              Generally, Moberly & Company shall seek consent to use and disclose personal information at the same time it collects the information. However, Moberly & Company may seek consent to use and/or disclose personal information after it has been collected, but before it is used and/or disclosed for a new purpose.

3.3.              Moberly & Company may require CLIENTS to consent to the collection, use and/or disclosure of personal information as a condition of the supply of a product or service only if such collection, use and/or disclosure is required to fulfill the explicitly specified, and legitimate identified purposes.

3.4.              In determining the appropriate form of consent, Moberly & Company shall take into account the sensitivity of the personal information and the reasonable expectations of its CLIENTS and employees.

3.5.              The purchase or use of products and services by a [CLIENT/CUSTOMER], or the acceptance of employment or benefits by an employee, may constitute implied consent for Moberly & Company to collect, use and disclose personal information for the identified purposes.

3.6.              A [CLIENT/CUSTOMER] or employee may withdraw consent at any time, subject to legal or contractual restrictions and reasonable notice. CLIENTS and employees may contact Moberly & Company for more information regarding the implications of withdrawing consent.

3.7.              Moberly & Company may collect or use personal information without knowledge or consent if it is clearly in the interests of the individual and consent cannot be obtained in a timely way, such as when the individual is seriously ill or mentally incapacitated.

3.8.              Moberly & Company may collect, use or disclose personal information without knowledge or consent if seeking the consent of the individual might defeat the purpose of collecting, using or disclosing the information, such as in the investigation of a breach of an agreement or a contravention of a law.

3.9.              Moberly & Company may collect, use or disclose personal information without knowledge or consent in the case of an emergency where the life, health or security of an individual is threatened.

3.10.           Moberly & Company may use or disclose personal information without knowledge or consent to a lawyer representing Moberly & Company, to collect a debt, to comply with a subpoena, warrant or other court order, or as may be otherwise required or authorized by law.

Principle 4 - Limiting Collection of Personal Information

Moberly & Company shall limit the collection of personal information to that which is necessary for the purposes identified by Moberly & Company. Moberly & Company shall collect personal information by fair and lawful means.

4.1.              Moberly & Company collects personal information primarily from its CLIENTS or employees.

4.2.              Moberly & Company may also collect personal information from other sources including credit bureaus, employers or personal references, or other third parties who represent that they have the right to disclose the information.

Principle 5 - Limiting Use, Disclosure, and Retention of Personal Information

Moberly & Company shall not use or disclose personal information for purposes other than those for which it was collected, except with the consent of the individual or as required or permitted by law. Moberly & Company shall retain personal information only as long as necessary for the fulfillment of those purposes.

5.1.              Moberly & Company may disclose a [CLIENT/CUSTOMER]’s personal information to:

[INSERT POSSIBLE DISCLOSURES – LEGAL REVIEW NECESSARY]

5.2.              Moberly & Company may disclose personal information about its employees to:

[INSERT POSSIBLE DISCLOSURES – LEGAL REVIEW NECESSARY]

5.3.              Only Moberly & Company’s employees with a business need-to-know, or whose duties reasonably so require, are granted access to personal information about CLIENTS and employees.

5.4.              Moberly & Company shall keep personal information only as long as it remains necessary or relevant for the identified purposes or as required by law. Depending on the circumstances, where personal information has been used to make a decision about a [CLIENT/CUSTOMER] or employee, Moberly & Company shall retain, for a period of time that is reasonably sufficient to allow for access by the [CLIENT/CUSTOMER] or employee, either the actual information or the rationale for making the decision.

5.5.              Moberly & Company shall maintain reasonable and systematic controls, schedules and practices for information and records retention and destruction which apply to personal information that is no longer necessary or relevant for the identified purposes or required by law to be retained. Such information shall be destroyed, erased or made anonymous.

Principle 6 - Accuracy of Personal Information

Personal information shall be as accurate, complete, and up-to-date as is necessary for the purposes for which it is to be used.

6.1.              Personal information used by Moberly & Company shall be sufficiently accurate, complete, and up-to-date to minimize the possibility that inappropriate information may be used to make a decision about a [CLIENT/CUSTOMER] or employee.

6.2.              Moberly & Company shall update personal information about CLIENTS and employees as necessary to fulfill the identified purposes or upon notification by the individual.

Principle 7 - Security Safeguards

Moberly & Company shall protect personal information by security safeguards appropriate to the sensitivity of the information.

7.1.              Moberly & Company shall protect personal information against such risks as loss or theft, unauthorized access, disclosure, copying, use, modification or destruction, through appropriate security measures, regardless of the format in which it is held.

7.2.              Moberly & Company shall protect personal information disclosed to third parties by contractual agreements stipulating the confidentiality of the information and the purposes for which it is to be used.

7.3.              All of Moberly & Company’s employees with access to personal information shall be required to respect the confidentiality of that information.

Principle 8 - Openness Concerning Policies and Procedures

Moberly & Company shall make readily available to CLIENTS and employees specific information about its policies and procedures relating to the management of personal information.

8.1.              Moberly & Company shall make information about its policies and procedures easy to understand, including:

(a)     the title and address of the person or persons accountable for Moberly & Company’s compliance with The Moberly & Company Privacy Code and to whom inquiries and/or complaints can be forwarded;

(b)     the means of gaining access to personal information held by Moberly & Company;

(c)     a description of the type of personal information held by Moberly & Company, including a general account of its use; and

(d)     a description of what personal information is made available to related organizations (e.g., subsidiaries).

8.2.              Moberly & Company shall make available information to help CLIENTS and employees exercise control of the collection, use and/or disclosure of their personal information and, where applicable, privacy-enhancing services available from Moberly & Company.

Principle 9 - [CLIENT/CUSTOMER] and Employee Access to Personal Information

Upon request, Moberly & Company shall inform a [CLIENT/CUSTOMER] or employee of the existence, use, and disclosure of his or her personal information and shall give the individual access to that information. A [CLIENT/CUSTOMER] or employee shall be able to challenge the accuracy and completeness of the information and have it amended as appropriate.

9.1.              Upon request, Moberly & Company shall afford CLIENTS and employees a reasonable opportunity to review the personal information in the individual’s file. Personal information shall be provided in understandable form within a reasonable time, and at minimal or no cost to the individual.

9.2.              In certain situations, Moberly & Company may not be able to provide access to all the personal information that it holds about a [CLIENT/CUSTOMER] or employee. For example, Moberly & Company may not provide access to information if doing so would likely reveal personal information about a third party or could reasonably be expected to threaten the life or security of another individual. Also, Moberly & Company may not provide access to information if disclosure would reveal confidential commercial information, if the information is protected by solicitor-client privilege, if the information was generated in the course of a formal dispute resolution process, or if the information was collected in relation to the investigation of a breach of an agreement or a contravention of the laws of Canada or a province.

9.3.              Upon request, Moberly & Company shall provide an account of the use and disclosure of personal information and, where reasonably possible, shall state the source of the information. In providing an account of disclosure, Moberly & Company shall provide a list of third parties to which it may have disclosed personal information about the individual when it is not possible to provide an actual list.

9.4.              In order to safeguard personal information, a [CLIENT/CUSTOMER] or employee may be required to provide sufficient identification information to permit Moberly & Company to account for the existence, use and disclosure of personal information and to authorize access to the individual’s file. Any such information shall be used only for this purpose.

9.5.              Moberly & Company shall promptly correct or complete any personal information found to be inaccurate or incomplete. Any unresolved differences as to accuracy or completeness shall be noted in the individual’s file. Where appropriate, Moberly & Company shall transmit to third parties having access to the personal information in question any amended information or the existence of any unresolved differences.

9.6.              CLIENTS and employees can obtain information or seek access to their individual files by contacting the Moberly & Company Privacy Officer.

Principle 10 - Challenging Compliance

A [CLIENT/CUSTOMER] or employee shall be able to address a challenge concerning compliance with the above principles to the designated person or persons accountable for Moberly & Company’s compliance with The Moberly & Company Privacy Code.

10.1.           Moberly & Company shall maintain procedures for addressing and responding to all inquiries or complaints from its CLIENTS and employees regarding Moberly & Company’s handling of personal information.

10.2.           Moberly & Company shall inform its CLIENTS and employees about the existence of these procedures as well as the availability of complaint procedures.

10.3.           The person or persons accountable for compliance with The Moberly & Company Privacy Code may seek external advice where appropriate before providing a final response to individual complaints.

10.4.           Moberly & Company shall investigate all complaints concerning compliance with The Moberly & Company Privacy Code. If a complaint is found to be justified, Moberly & Company shall take appropriate measures to resolve the complaint including, if necessary, amending its policies and procedures. A [CLIENT/CUSTOMER] or employee shall be informed of the outcome of the investigation regarding his or her complaint.

Additional Information

For more information regarding The Moberly & Company Privacy Code, please contact the Moberly & Company Privacy Officer at [INSERT 1-800 PHONE NUMBER] or via [INSERT E-MAIL].

Please visit the Privacy Commissioner of Canada’s web site at www.privcom.gc.ca.

 
                           
                           
                           
                           
                           
                           

Research Checklist for New Clients 

We perform a thorough review of your tax history to learn how we may provide services to you.  The documents that we review depend on the your  circumstances: 

All new clients: please provide the following documents:

- The last three years of income tax returns with all supporting documentation.
- All insurance policies.
- All property deeds.
- All foreign property details.
- Wills.

Clients _(name - 1 page per taxpayer)___________________All clients  please provide the following information:

 

 

INVESTING $trategies

Much has changed since the so-called "2008 market correction", but have we "corrected" the way we think about investing?

What is an investment?
InvestorWorlds.com tells us that an investment is"... the purchase of a financial product or other item of value with the expectation of favourable future returns ... or in general terms, the use of money in the hope of making more money..."  Well, no wonder the portfolio "haircut" occurred last year. Do we simply invest "expecting" or "hoping" to earn favourable returns ... or do we follow rules and qualifiers that help us to earn favourable returns.

What is an investment under post-2008 correction rules?
My experience tells me that successful investors do more than "expect" and "hope" for favourable returns. Successful investors, firstly, have a:

1) BUYING STRATEGY:
    Successful investors don't simply buy everything under the sun ... nor do they attempt to "time" the market. Most successful investors  systematically invest on a fairly regular basis; ex. 10% of their income monthly, yearly, etc. They choose an investment vehicle that they like and understand and go in for the long term: stocks, mutual funds, precious metals and real estate to identify a few common examples.

2) SELLING STRATEGY:
    Successful investors sell when the time is right and minimize income taxes. For example, if a client owns investments in both RRSP  and non-registered accounts she will sell when the cash in needed and when tax is minimized. Invading the RRSP account triggers tax at the person's marginal tax rate ... as "ordinary income". Invading the non-registered account will only trigger tax on the capital gain, if any. Investing in non-registered accounts is not usually recommended for people who are paying tax at a high rate and who have RRSP contribution room available. 

3) REBALANCING STRATEGY:
    Successful investors often balance their portfolio risk between several categories of investments: stocks, bonds, mutual finds, real estate, technology, emerging markets ... to name a few. They will allocate a percentage of their total portfolio to each or some of the various categories and over time keep their portfolio balanced between the categories despite gains or losses. Yes, this strategy will limit gains, but also limit losses.

4) STOPLOSS:
    Lastly, for purposes of developing some generic rules, an investment should have an integral strategy for limiting losses. Simplified, a "stoploss" is a mechanism that kicks in to liquidate an investment if its market price drops below a certain point. Many investors chose a percentage, such as between 15 and 25%. An illustration of the usefulness of a stoploss can be seen in the example of the Nortel roller coaster of the last 14 years.  Once the darling of the TSE (now TSX), Nortel has been a volatile stock that, in my mind, has not qualified as an investment since October of 2000. The stock's price during the period from January 2000 to December, 2009 varied from $122.00 to 19 cents.

Imagine that you acquired this stock in 1995 because you were looking at a promising technology investment ... buying 100 shares in January of 1995 for $2,300. The stock split 2 for 1 in 1998 and again in 1999 and again in early 2000. By August of 2000 Rip Van Winkle would have stock worth $121,900 ... a tidy gain of nearly $119,000 or 5,300 percent. If Mr. Van Winkle had placed a 20% decline stop loss order with his advisor he would have sold his portfolio in mid September 2000 for about $97,000 locking in a 4,200% gain. Truth is though that thousands of his colleagues held the stock through its decline to $0.87 ($87.00 total market value).

Nortel Historical Stock Prices:            $  23.00   in Jan   of  1995 (before 3, 2-for-1 stock splits)
                                                      $122.00   in Sept  of  2000
                                                      $  00.87   in June of  2002
                                                      $  00.19  on June 19, 2009 (after a 1-for10 reverse stock split)

It is true that many of us are struggling to recover the losses of the last few years ... but prudent portfolio management is the solution ... not taking more chances. So, develop an investment strategy ... and leave "playing the stock market" to the independently wealthy and those people with good, solid "defined benefit" pensions.

 

 
         
               
               
               
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