canadian taxes Archives - CPA Accountant and Tax Advisor- Coquitlam, Burnaby, Maple Ridge

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 […]

Read more
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 […]

Read more
Fitness tax credit

Tax on Income Splitting – “kiddie tax”

October 11, 2014
|
0 Comments
|

Income splitting is the process of shifting income within a family to take advantage of the lower tax brackets, deductions and credits available to each family member. Anti-avoidance legislation was introduced in 2000 to prevent income splitting with minor kids. It is known as “kiddie tax.” The […]

Read more