Author Archives: Ontime Accounting
Tradesperson’s Tools Deduction by Accountant Brampton
You may be able to deduct the cost of eligible tools you bought in 2010 to earn employment income as a tradesperson at Accountant Brampton. This cost includes any GST and provincial sales tax, or HST that you paid. You … Continue reading
Children’s Fitness Tax Credit by Accountant Vaughan
Starting with the 2007 tax year, the Government of Canada allows a non-refundable tax credit based on eligible fitness expenses paid by parents to register a child in a prescribed program of physical activity, Accountant Vaughan. The following information is … Continue reading
Registered Charity by Accountant GTA
ENGAGE ONLY IN ALLOWABLE ACTIVITIES– A registered charity is allowed to carry out its charitable purposes both inside and outside Canada in only two ways: by carrying on its own charitable activities, and Charity Accountant Woodbridge by gifting to qualified … Continue reading
First-time Home Buyer’s Tax Credit (Accountant Woodbridge)
You can claim an amount of $5,000 for the purchase of a qualifying home made in 2010, if both of the following apply: ■ you or your spouse or common-law partner acquired a qualifying home; and ■ you did not … Continue reading
Tax-Free Savings Account (TFSA) (Income Taxes Woodbridge)
Starting in 2009, a tax-free savings account (TFSA) is a new way for residents of Canada to set money aside tax free throughout their lifetimes, Income Taxes Woodbridge. Taxes Woodbridge Contributions to a TFSA are not deductible for income tax … Continue reading
Pension Income Splitting (Tax Accountant Brampton)
If you and your spouse or common-law partner have jointly elected to split your eligible pension income by completing Form T1032, Joint Election to Split Pension Income, you (the pensioner) can deduct on this line the elected split-pension amount from … Continue reading
Half of Canadians are ready to cheat on taxes (Tax Accountant)
Tax planning is way of saving taxes instead of cheating on your Taxes Brampton. You can plan to save taxes through your Tax Accountant. OTTAWA – A new poll commissioned by the taxman suggests half of Canadians are ready to … Continue reading
Let them eat cake: The wacky world of the Harmonized Sales Tax (Accountant GTA)
The HST is effective as of July 1, 2010 and here are some of items that taxable or exempt from HST, Accountant GTA. If you’re at a wedding some time after the harmonized sales tax kicks in on July 1, don’t complain … Continue reading
T4 Late filing Penalty by Payroll Accountant Woodbridge
It is very important that file T4 slips on time to avoid heavy penalty from CRA by Accountant Woodbridge. Please see your Payroll Accountant Woodbridge ON as soon as possible for more information. You have to file an information return and … Continue reading
Things That Are Ruining Your Retirement (Income Taxes Brampton)
Planning for your future retirement can be difficult. Many of us are looking forward to traveling the world or taking it easy at home in retirement, Income Taxes Brampton. But a successful retirement requires early planning. You can’t just expect everything … Continue reading