Tax Planning Strategies Archives - Page 2 of 8 - CPA Accountant and Tax Advisor- Coquitlam, Burnaby, Maple Ridge

2016 Federal budget

2016 federal budget proposes to keep the small business tax rate at 10.5 % after 2016. As a result, the budget also proposes to maintain the dividend gross-up rate at 17% and dividend tax credit (21/29 of the gross-up rate) rates applicable to non-eligible […]

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tax planning

Eligible and Non-eligible Dividends

Eligible dividends

An eligible dividend is any taxable dividend paid to a resident of Canada by a Canadian corporation that is designated by that corporation to be an eligible dividend. A corporation’s capacity to pay eligible dividends depends mostly on its status. In simple terms […]

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taxable benfit

Taxable Benefits – Work Clothing

September 11, 2015
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Uniforms are not a taxable benefit if the purpose is to protect the employee from the job hazards or are distinctive uniform such as identifying the employer.

If it does not fulfill the above criteria it would be considered a taxable benefit and would be reported on employee […]

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Rental Income Tax Return

How to Prepare Rental Income Tax Return

Rental Income Tax Return

Rental income is an income you earn from renting a property you own. Rental income is a great source of secondary income and helpful to pay extra bills. However, under the Income Tax Act rental income is taxable must be included on […]

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