Tag: Tax

BC Early Childhood Tax Benefit

It is a new type of Tax Benefit for BC family. If you received the CCTB (Canada Child Tax Benefit) and National Child Benefit Supplement, for low income family, you may receive BC Early Childhood Tax Benefit. there are approximately 180,000 B.C. families that are now receiving up to $55 per month, or $660 a

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 our Canadians earn income through employment. Employment income includes all benefits the employee receives in

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 in the account (for example, investment income and capital gains) is tax-free, even when it

2008 RRSP tips for Canadian

1) Start early and invest regularly Regular investing puts the power of compound growth on your side. And the earlier you start, the more you may have in the future. 2) Reduce taxes today RRSPs are designed to help build your financial future and the contributions have the added benefit of being tax deductible. By

Tax Decuctions you may Overlook

These Deductions are only work on the Blogger, like you or me. Don’t get caught leaving money on the table. Here’s a list of potential deductions that you might have overlooked. Consider: 1. Monthly Hosting Fees or Annual Hosting Plan. 2. Annual Domain Costs, say $8 each per year 3. Design/Logo Fees 4. Internet access