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

Universal child care benefit (UCCB)

Under proposed legislation, the Government is increasing and expanding the UCCB starting in 2015. The UCCB is being enhanced by providing up to $1,920 per year for each child under the age of 6, and introducing a new benefit of up to $720 per year for children […]

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Shareholder-Employee Loan or Benefit

Where the shareholder is also an employee, following types of loans are not taxable and excluded from income:
– a loan to employee who is not a specified employee of the lender
– where the purpose of the loan is to buy a principal residence
– where the purpose of the […]

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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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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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