And the series of Tax Tips continues…this week’s information will be helpful to those individuals who purchased a home for the first time. This tax credit was introduced in 2009 and is completely independent from the Home Buyer’s Loan program by CRA.
If you are a first-time homebuyer, a person with a disability, or an individual buying a home on behalf of a related person with a ...
Continue Reading →Tax Tip #4 in our Series of Tax Tips….
A new change came into place in 2010 which affects the medical and dental expenses which can now be claimed for tax purposes. Medical or dental services or related expenses which are provided for purely cosmetic purposes are no longer eligible medical expenses for purposes of the medical expense tax credit, unless the services are necessary for medical or reconstructive ...
Continue Reading →Posted by: Juliet Aurora+
Here is the next tip in our series of Tax Tips.
There is usually an added benefit if payments for charitable donations for two years are grouped into one year. This is due to the fact that the first $200 of donations is eligible for a 15% federal non-refundable credit in 2010 while the excess over $200 is eligible for a 29% credit. You’ll receive a larger credit if ...
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The RRSP Deadline for 2010 was March 1st, so if you haven’t already contributed, you can’t for last year. But this year is a whole other story….
For business owners, an RRSP is your only pension fund. There is no large corporation ensuring you have funds at your retirement. You are that corporation and RRSP contributions are essential to self-employed individuals unless you want to rely only on ...
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