tax tips 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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tax planning

Meals and Entertainment Cost 100% Dedcution

October 19, 2014
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Usually deduction of meals and beverages cost is limited to 50%. This general rules also applies to the cost of meals and entertainment for employees. However there are few exceptions to this general rule as follows:

Employment at Remote Work Sites

The 50% limitation does not […]

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Private Health Services Plan Premiums Deductibility

Deducting Private Health Insurance Payments

Under ITA S20.01, you can deduct premiums paid to a private health services plan (PHSP) from self-employment income if you meet the following conditions;

   – your net income from self-employment for the current or previous year is more than […]

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