| Canada Taxes |
| Im in Canda on a working visa & have T4 forms from jobs. Who can I go to for info on how to submit tax return? |
Yes, you have to file just like a citizen of Canada does. If you do not want to do the paperwork yourself you may go to a company like H & R Block. They are very fast at filing a return and dep... |
| My 4yr is with modelling agency, received income for jobs done. Agency does not withold taxes, how doI claim? |
The agency didnt withhold taxes because your daughter was not an employee of the agency which considers your daughter as a contractor or self employed.
As she earned the income and incurred the ... |
| What is Ontario's Average Household Income? |
The three highest average household incomes
in Canada were found in N.W.T. ($71,422),
Ontario ($66,836), and Alberta ($64,199). ... |
| Loan guarantees are taxable benefits? |
No, there is no benefit until/if the shareholder defaults.
Bd policy, though, as it muddies the waters. I assume this is a private corporation, and this confuses the line between shareholder an... |
| Can I reasses my income tax return?? |
The immediate answer above is for the US. For Canada, see below comment.
If you need to make a change to the tax return you have sent to the CRA, do not file another return for the same year. I... |
| T2202a ( tuition tax form ) in CANADA...How is this applied when you do your taxes? |
T2202a claimed on Schedule 11 and provincial form 11 eg. in Ontario ON11 form.
This form guide you through you will able to use this credit or not or for carry forward for future use.
This c... |
| How much of my income is taxed? |
How much tax you need to pay depends on your income level, types of income (employment, diviend, etc) and tax bracket your income falls into. And, how much money you get back depends on how much t... |
| No credit for withholding tax if you have net capital loss? |
I'm sorry to say that the answer is no.
Here's why: If you had received positive capital gains instead of capital losses, you would not have been subject to any withholding on the cap... |
| Resident or non-resident for Canadian tax purposes? |
It sounds to me like you were no longer living in Canada at year end and did not work more than 183 days in 2007 in Canada. As long as you did not have any other ties to Canada such as personal pro... |
| Non-Canadian spouses liability to file Canadian tax.? |
Canada Revenue Agency CRA does not require your husband to pay taxes in Canada unless he was living there as of December 31st. The key they use in determining this is whether your husband had cut a... |
| LTD and Maritime deductions on paycheck? |
LTD is Long Term Disability. You obviously paid into an LTD account. Doesn't help you now you've left, but if it was part of your standard deductions...
No Idea what Maritime is, unl... |
| If you didnt work this past year do you still have to file an income tax return in canada? |
No. You never have to file income taxes unless you owe money or if CRA specifically requests it.
You probably should because you might be entitled to various tax credits (rent for example) plus ... |
| Dividend figures on both T3 and T5? |
T3 dividend is generally from a trust, while T5 dividned is generally from a corporation. I guess u have to trust your financial institutionts that they prepare the T3 & T5 correctly.
T3 - ... |
| Do you have to pay the difference in tax rates between provinces on your income? |
Oh lucky you.
You file and pay income tax based on the province of residence on Dec 31.
Therefore you get to file Quebec income tax (as you apparently have discovered)., a pain in the posteri... |
| How can status indian report self-employed income on tax return ? |
As I understand it, only the self employed income earned outside the reserve is taxable and to be included on his or her tax return, while the income earned earned inside the reserve is not taxable... |
| Capital Gains...how much would someone owe.? |
Assuming that you rented the property to your children to live in (ie, not a principal residence to qualify for tax exemption), and assuming that the debtload is $5000 representing interest expense... |
| Starting new job, no income tax taken off, whats the percentage l should put away each week for taxes?? |
How much tax you pay depends on how much you earn for the year and which province you live in. For example, earning less than $36000 a yr in Ontario would oay about 21% tax (fed and ontario combin... |
| Tax implications when transferring stock from US to Canada? |
As far as the stock brokerage is concerned, you are still the owner of the shares, and thererefore no disposition occurred when u moved to canada.
The key important question is whether u are con... |
| How do I calculate "earned income" from my T4? Apparently it's not the same as "employment income". |
Generally speaking, for our type of pension plan, the government's determination of any one year's new RRSP room is 18% of the previous year's earned income (subject to the maximum R... |
| How much tax do you pay? |
How much tax u pay depends on whether ur didvidend eligible for the enhance dividend tax credit in BC.
Profit earned by a corporation is taxed; then, when the after-tax profit is distributed in... |
| Canada Income Tax - can I claim private music lessons that I took? |
if your doctor prescribes Music Therapy the lesson costs are tax-deductible, otherwise not deductible ... |
| How does Ontario Works treat Income Tax Refunds 2? |
Income tax refunds are not income. If you think about it, they are previously earned (and reported income) which was incorrectly paid to CRA in the form of income tax, now refunded. ... |
| How do you calculate tuition tax credit in Canada? |
Form T2202A (Tuition and Education Tax Credit)
In Canada, you may be able to reduce income tax payable by claiming tax credits for enrolment in and payment of tuition and academic fees for Univ... |
| Accounting ?!!? |
The last one is incorrect. A correct way to phrase it would be:
Revenues - cost of goods sold = gross profit. ... |
| T5 'foreign income' vs 'income from foreign sources'? |
They appear the same to me, and both not eligible to the cdn dividend tax credit ... |
| US income source in 101 or 104 to be included even you paid tax in the US? |
It all gets included in your Canadian tax. Canadians pay tax on worldwide income, as do Americans, by the way.
You then need to file for a Foreign Tax Credit, (sorry, don't have the form n... |
| If I sell my primary residence and move into my rental property can I avoid capital gains tax? |
you do not pay capital gain tax on selling your principal residence in canada - it is tax exempt ... |
| Can i claim mileage for business and if so what rate? |
You may claim mileage for business trip if your employer requires u to use a personal car to see clients or customers. Pls note that to and from your home to your employer's work place is co... |
| What address do I mail my taxes to? |
If you got sent tax forms in the mail then you should have received a sticker with the address. Just glue it to the front of the envelope.
If not go to the post office and pick up a tax package ... |
| Why is it good to have some sort of pension plan? |
The pension gives a retired worker a monthly cheque to support his daily living when he/she no longer receives a monthly salary cheque.
The govt CPP gives a retired Canadian worker a monthly che... |
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