Hrbtaxtalk - hrbtaxtalk.ca - Tax Talk from H&R Block
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What is the Canada Pension Plan? 26 Aug 2013 | 10:48 pm
Every Canadian 18 or over is required to contribute a percentage of their employment income to the Canada Pension Plan (CPP). For 2013, it is 4.95% on maximum earnings of $47,600 and your employer is ...
Deferring your Old Age Security Benefits can be beneficial 19 Aug 2013 | 10:45 pm
Changes to the Old Age Security benefit give qualified recipients more choice, but step one is determining eligibility. Old Age Security (OAS) is a monthly benefit paid to eligible taxpayers 65 or old...
How not to fight the tax man 12 Aug 2013 | 10:03 pm
The Income Tax Act allows taxpayers to appeal or fight an assessment. There is a process and you must follow the rules if you do want to fight the tax man. However, in the last few years, there has be...
Making the most of summer and tax savings 2 Aug 2013 | 07:16 pm
Most people only think of income tax in March or April, but it’s a year-round process and deductions can come at any time of the year, even in the summer months. Here are some common summertime tax cr...
Life changes can impact your tax withholdings 1 Aug 2013 | 07:16 pm
Every new employee is asked by the payroll department to complete a TD1 Form to determine the amount of tax to withhold. Employers are required to withhold a certain amount of tax based on the informa...
Tax Court upholds the Amount for Eligible Dependant rules 31 Jul 2013 | 05:05 pm
Parents who pay child support and had hoped to claim an eligible dependant credit were disappointed recently when a federal court decision went against them. Single parents with joint or primary cust...
CRA push for electronic filing is working 23 Jul 2013 | 01:09 am
One of the Canada Revenue Agency’s goals is to move taxpayers towards electronic filing. Filing electronically makes processing easier and cuts down on the cost of handling a tax return. The CRA stop...
New credit provides additional tax savings for new donors 15 Jul 2013 | 08:21 pm
When was the last time you, your spouse or common-law partner claimed a charitable donation on your tax return? If it was before 2008, you are now considered a first-time donor under the new enhanced ...
Confessing to the taxman 8 Jul 2013 | 06:39 pm
Failing to report income on your tax returns can lead to penalties and interest charges. If you know you have unreported income and are worried that the Canada Revenue Agency is about to knock at your...
Government getting more serious about foreign property and income 2 Jul 2013 | 06:37 pm
Canadians are required to report foreign property with a cost of more than $100,000 using Form T1135 Foreign Income Verification Statement. The form is meant to ensure you report any foreign income or...
