Canada Revenue Agency Income Tax: payroll tax Tax Rate
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Personal Income Tax Measures in Federal Budget of 2011
Highlights of Personal Income Tax Measures in Federal Budget of 2011. This is very important information for families, self employed, sole proprietors and partnership businesses.
These tax incentives will cost the federal government about $35 million in 2010-11 and rising to $168 million in 2012.
Non-refundable Tax Credits ( Important to know, that you do not get any tax refund for these credits. These tax credits only can reduce your existing tax bill and give you a bigger share of tax refund).
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Canada Revenue Agency Income Tax
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Canada Corporations Need Our Help
Who says you can’t have fun with Tax? This is beyond SNL sketch. I enjoyed all the video clips. Nuella is witty and crispy funny in another level. Canadian corporations need tax cuts. Who is going to come up to fill the void? Its you and may. Watch the clip below..
Canada Revenue Agency Income Tax
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Canada Corporation Tax Rate Is Going Down
There is a campaign going on right now, that will decrease the corporation income tax rate further from the 15% tax rate that will hit in 2012.
The idea behind reduction of corporation tax rate is that these tax cuts will create more jobs in the economy in the time of recession.
It turns out the people who are looking for jobs or work in the corporation are not in favour of corporate income tax rate cut.
In 2007, the House of Commons approved a series on annual income tax rate cuts starting 2011. On New Year’s day, the corporate tax rate dropped by 1.5% from 18% of income to 16.5%. Next year the final tax rate will come into place and reduce the corporate income tax rate to 15%. It is hoped that with the additional money saved from the tax cuts, corporation will expand their operation and hire more employees.
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BC Province Canada Revenue Agency Tax Fraud: audit Scam
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Donation Tax Shelter in Canada How it Works?
In Canada a tax payer can claim 75% of his income as donation and get a Tax Credit of 43% (combined Federal and BC Province) as a tax payable reduction or cash refund.
Donation is a very attractive Tax Shelter for people in higher income tax bracket.
Donations to Canadian registered charities and other qualified donees approved by CRA can only be claimed as charitable donations.
At the end of each calendar year many tax shelter advocate give attractive and compelling presentation to tax payers to donate money to their tax shelter and either reduce tax or get a big refund.
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Canada Revenue Agency: Income Tax meetup networking
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On Line Business Tax Saving Tips
I was requested to talk about tax saving ideas for Online Business owners by Arik Sternberg founder of a Vancouver Meetup group Vancouver’s ‘Online Business Optimization’.
On line revenue generating business are taxed like any other money making business in Canada. The most important thing on line business owners can do to reduce their tax bill is to keep a detail record of all expenses related to their on line business. This alone will reduce their taxable income significantly. Further tax planning should be done with a tax advisor.
Here are the slides of the presentation.