By Liz O'Dowd on April 16, 2013 
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Did you know? Even if you have no income to report for 2012, you should still file your income tax and benefit return by April 30, 2013 to be eligible for some tax credits and benefits. Important facts Eligibility for… {Read more}
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 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}