By Liz O'Dowd on April 8, 2013 
Leave a comment
Several Provinces have increased or will increase their minimum wage rates in 2013. The list below details the wage rate changes taking effect in 2013. Jurisdiction Rate New/ Current Previous Rate Effective Date Alberta $9.75 $9.40 Sept. 1, 2012 Manitoba… {Read more}
By Liz O'Dowd on April 5, 2013 Leave a comment
Personal income tax returns for 2012 are due Tuesday, April 30, 2013. If you or your spouse carried on a business in 2012, your return has to be filed on or before June 15, 2013. As this is a Saturday,… {Read more}
By Liz O'Dowd on April 5, 2013 Leave a comment
First $200 Amount over $200 Tax Credit for donation of $1,000 Combined Fed/Prov Tax Credit for donation of $1,000 Empl income required to completely utilize tax credit Combined Fed/Prov Tax Credit for donation of $1,000 Empl income required to completely… {Read more}
By Liz O'Dowd on April 5, 2013 Leave a comment
The following statement was released by the CRA related to recent media coverage of a list of Canadians with assets offshore. The CRA is consulting other jurisdictions and is working to obtain the information referred to in the media today…. {Read more}
By Liz O'Dowd on April 2, 2013 Leave a comment
The Federal 2013 Budget proposes to introduce a temporary First-time Donor’s Super Credit, which would be available to an individual if neither the individual nor the individual’s spouse or common-law partner has claimed the Charitable Donation Tax Credit (CDTC) or… {Read more}
By Liz O'Dowd on April 1, 2013 Leave a comment
If you use a safety deposit box for safekeeping of your investments, you can claim the cost as a “carrying charge” on line 221 of your tax return, if the cost has been incurred in order to earn income from… {Read more}
By Liz O'Dowd on April 1, 2013 Leave a comment
Non-eligible, or ordinary, dividends are any dividends issued by a Canadian corporation, public or private, which are not eligible for the enhanced dividend tax credit. The non-eligible dividend tax credit rate is used for dividends received from Canadian-controlled private corporations… {Read more}
By Liz O'Dowd on March 26, 2013 Leave a comment
The 2011 Budget introduced a Family Caregiver Tax Credit, beginning in 2012. The legislation is included in Bill C-13, which received Royal Assent (became law) on December 15, 2011. Yukon is also providing the Family Caregiver Tax Credit. This is… {Read more}
By Liz O'Dowd on March 25, 2013 Leave a comment
One of the more common expenses claimed by taxpayers are automobile expenses (applies to any motor vehicle such as a van, bus, pickup truck, station wagon, SUV, or other truck). Many individuals use their automobile for work or business and… {Read more}
By Liz O'Dowd on March 22, 2013 Leave a comment
You may have an investment in some shares or debt which has become worthless, but you can’t sell them because the security is no longer listed on a stock market. There is a section of the Income Tax Act that… {Read more}