Tweet Canada’s tax system is based on self-assessment, which means that individuals are responsible for accurately completing and filing their tax returns on time. The Canada Revenue Agency (CRA) provides Canadians with the information they need to meet their income tax obligations. See link below for link to CRA website: http://www.cra-arc.gc.ca/whtsnw/tms/lttrcmpgn-eng.html#_pubs If you have received …Read More
Tweet 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 …Read More
Tweet TFSA vs RRSP — Which is Right? BOTH if you want your dream retirement! Posted: January 21, 2010, 10:40 AM by Jonathan_Chevreau Retirement, Saving, RRSPs, TFSAs With the annual RRSP season well under way PLUS the second year of the new Tax Free Savings Account (TFSA) program, it’s natural enough to ask the …Read More
Tweet 3 Often Missed Opportunities To Extract Tax Free Cash From Your Corporation 1) $37,500. tax free dividend in Ontario for each shareholder. – Consider having your spouse, adult children and parents as separate shareholders. If they have little or no income, this is a great way to income split within the family. 2) Transfer …Read More
Tweet An Anomaly: Transfers of Personally-Owned Policies to a Corporation There is a curiosity in the tax rules relating to the transfer of insurance policies from an individual shareholder to a non-arm’s length corporation. (This is essentially a corporation controlled by the individual and/or family members.) The rules in question provide that, where a …Read More
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