Tax saving tips - Articles about personal and business taxes

First-Time Donor’s Super Credit

February 21, 2014
|
0 Comments
|

The budget proposes to introduce a temporary supplement to the existing non-refundable tax credit for charitable donations by individuals. The new credit can be claimed once from the 2013 to 2017 taxation years.

Here is how it works – if you have donated $500 in 2013 to a […]

Read more

Rental Income as ABI

Can rental income be claimed as Active Business Income (ABI)?

In most cases, income from the property will be considered as passive income and would not qualify for a small business deduction. For example, rental income is considered a passive income (income from property […]

Read more
2015 taxes

Federal Budget 2013: How will the new federal budget affect individuals and businesses?

February 21, 2014
|
0 Comments
|

Impact on individuals –

Non-eligible dividends tax increase: the federal effective tax rate on non-eligible dividends will be 21.22% (from 19.58%)
Lifetime capital gains exemption has increased to $800,000 (from $750,000) on dispositions of qualified property
Creation of the First-Time […]

Read more

Hiring Credit for Small Business

February 21, 2014
|
0 Comments
|

What is the Hiring Credit for Small Business?

 
In 2011, the federal government created the Hiring Credit for Small Business (HCSB) to stimulate new employment and support small businesses.

The HCSB is designed to give small businesses relief from the employer’s […]

Read more