tax savings 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 […]

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Personal Tax Planning

The Family Tax Cut

The government is proposing a new Family Tax Cut, a non-refundable tax credit worth up to $2,000 for couples with children under the age of 18.

The Family Tax Cut would allow a spouse to, in effect, transfer up to $50,000 of taxable income to […]

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capital gain reserve

Capital Gain Reserve

Capital Gain Reserve Carry Forward

If you have a capital gain, there may be an option to defer or reduce the capital gain tax. In some instances, all of the proceeds from a capital asset disposition will not be received in cash in the year of […]

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Income Splitting with Minor Kids

Splitting Income with Minor Kids to Save Taxes

One way to reduce your taxes is to split income with your family. This is one of the popular tax planning strategy. Under this strategy, you hire your children and pay them salary which is deductible to your […]

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