Non-Profit Organization in Canada

I am going to work within a non-profit organization in BC Canada. So I want to know more about it. What is a Non-Profit Corporation? A non-profit corporation is a legal entity separate from its members and directors formed for...

Three basic types of Income

As we know, all taxpayers resident in Canada must declare income from all kinds of sources, including those outside Canada, and must pay tax on their own taxable income. There are three basic types of income. Employment income Most of...

Tax-Free Saving Account of Canadian

Starting in 2009, a tax-free savings account (TFSA) is a new way for residents of Canada to set money aside tax free throughout their lifetimes. Contributions to a TFSA are not deductible for income tax purposes and the income earned...