Author Archives: stephensutherland
Tax Tips – January 2012
In this issue, learn about: Indexation of Amounts for 2012, Changes for Eligible Dividends in 2012, Changes to Employee and Shareholder Benefit Rules, Shareholder Loans, Tax Benefits for First-Time Home Buyers, Political Donation Tax Credit, CRA Warns of “Tax Protestor Schemes” and Around the Courts. Continue reading
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Tax Tips – December 2011
In this issue, learn about: Crackdown on Personal Services Businesses, The 10-Year Limitation on Waiver of Interest, Make Money Volunteering for a Charity, Watch Out for Short Taxation Years, Do You Make Donations to U.S. Charities? and Around the Courts. Continue reading
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Tax Tips – November 2011
In this issue, learn about: Emigration from Canada, U.S. Citizens and Tax-Free Savings Accounts, Some GST/HST Quirks You Might Need to Know and Around the Courts. Continue reading
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Tax Tips – October 2011
In this issue learn about: The CRA on Over-Contributions to TFSAs, Income Splitting and the Income Attribution Rules, The “Kiddie Tax”, Education Tax Credits, Child Care Expenses, Prescribed Interest Rates and news Around the Courts. Continue reading
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2012 Federal Budget Commentary
The 2012 Federal Budget Commentary has just been released, please click here to view the document.
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Section 84.1 Can Happen to You
The general consequences of section 84.1 are a reduction in paid-up capital (to the extent there was an increase from the transaction) and/or a deemed dividend to the extent non-share consideration, such as cash or promissory notes, received on the transfer exceeds the tax cost of the property. Continue reading
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Registered Disability Savings Plan (RDSP)
The plan is frequently overlooked but can provide significant savings to those who qualify. Individuals are often familiar with RRSP’s and TFSA’s, but the same is not true for RDSP’s. Continue reading
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Charitable Remainder Trust Tax Credits
A Charitable Remainder Trust (CRT) set up during the donor’s life is an excellent way to facilitate the gift on death but receive the tax credit now. You can also preserve the income stream earned on the asset during the remaining years of the life of the donor and, if desired, the donor’s spouse. Continue reading
2011 Federal Budget
On March 22, 2011, the Canadian Government released their 2011 Federal Budget. In interest of the environment and to comply with the GREEN movement, we have made the New Canadian Federal Budget available to you via our website. PDF – … Continue reading
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Personal Income Tax Checklist
It’s that time of year again when we need to start thinking about filing income tax. That’s right, April 30, 2011 is fast approaching and the sooner you can get a handle on your yearly tax burden (or return), you … Continue reading
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