Need a little extra cash for Christmas? Want to start on a good financial footing in 2012? Your family’s tax returns are a great place to start, because you may just find a lump of gold hiding in year end tax planning opportunities. In a volatile investment environment, being tax astute can add double digits …Read More
Dec 292011
A portion of amounts received as severance pay or retiring allowance can be transferred directly to a Registered Retirement Savings Plan (RRSP), so that income tax, Canada Pension Plan premiums, and Employment Insurance premiums need not be deducted. The allowed transfer amounts are: $2,000 for each year or part year of service with the employer …Read More
Apr 272011
Contractors are frustrated by a Canada Revenue Agency ruling they are not businesses and don’t qualify for tax credits, writes James Bagnall Read more: http://www.ottawacitizen.com/business/workers+build+political+support+against/4668718/story.html#ixzz1Kio0InDq I will be posting additional articles with respect to this on my blog shortly. I will re-post to LinkedIn when completed. Related articles IT professionals angry over increased taxes (canada.com) …Read More
I am posting a link to the TFSA vs. RRSP Calculator from the TaxTips.ca website as a follow up to my previous post on TFSA’s vs RRSP’s. Do the analysis for yourself and provide feedback on your results. The calculator uses two scenarios – deposits going to RRSPs, and deposits going to TFSAs. You input …Read More
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