Is It Wrong To Overpay Your Taxes?
Posted by admin on Feb 10, 2012 in Personal Income Tax | 2 comments
Ask a typical investment agent and he will tell you not to, but go and invest the extra “taxes” you would have otherwise given the government to them instead.
Read MoreTaxpayer Bill of Rights
Posted by admin on Nov 16, 2011 in Personal Income Tax | 7 comments
A lot of Canadians are not aware of the rights and responsibilities the Canada Revenue Agency (CRA) has when it comes to the treatment of its clients: YOU.
Read MoreTFSA’s – Beware of Being TAXED
Posted by admin on Sep 13, 2011 in Personal Income Tax | 4 comments
Tax Free Savings Accounts, or TFSA’s as they are better known, is Canada’s newest way to save money without having to pay tax on the interest. Introduced by the federal government January 1, 2009, an individual is allowed to contribute a maximum $5,000 to the account per year. As stated in my first blog, posted March 6, 2011, any open contribution room from previous years can by carried forward indefinitely until you max out the contribution space in your TFSA.
Read MorePolitical Contributions
Posted by admin on Apr 26, 2011 in Personal Income Tax | 11 comments
With the Canadian Federal Election and Personal Income Tax deadline falling on the same day this year, being May 2nd, 2011, I thought I would write on the subject of political contributions.
Read MoreEmployment Expenses
Posted by admin on Apr 17, 2011 in Personal Income Tax | 5 comments
Many employers in Canada require employees to incur out-of-pocket expenses as part of their daily jobs, and quite often without compensation. Here are some duties that may be involved with your job description:
Read MoreEligible Deductions on Your T4 Slip
Posted by admin on Mar 28, 2011 in Personal Income Tax | 14 comments
Your T4 slip is a very important tax document. I would argue it is the most common slip filed in a tax return in Canada. T4 slips are more than just reportable income, EI, CPP and tax deductions. Here is a list of some boxes may otherwise be ignored but are valuable deductions for your tax return. All boxes and lines for this blog pertain to the 2010 tax year.
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