1 The rate on capital gains is one-half the ordinary income tax rate. 2 The federal basic personal amount comprises two elements: the base amount ($13,521 for 2023) and an additional amount ($1,479 for 2023). The additional amount is reduced for individuals with net income in excess of...
Canada imposes corporate and personal income tax on its residents (including Canadian subsidiaries of foreign entities) in respect of income and capital gains earned anywhere in the world. Federal income tax is imposed under the Income Tax Act (ITA). Non-residents who carry on business in Canada...
Hiring a spouse, child or other relative allows you to benefit in two ways: for 2023, the first $15,000 of a family member’s employment is tax-free (the“basic personal amount”opens in a new tab), and their salaries count as atax deduction for your businessopens in a...
eligible for the nonrefundable tax credit for a labor-sponsored fund. An individual will no longer be able to benefit from this tax credit, for a tax year, as long as the individual’s taxable income is subject to the highest tax rate of the personal income tax table for the base year...
The eligibility criteria for a black credit card differs by card provider, but typically, applicants need an excellent credit score and a personal income of at least six figures annually. Aeroplan credit cards: Best for Air Canada patrons Millions of Canadians are members of Aeroplan, the loyalty...
There's no first deposit bonus here, but plenty of promotions reward users for their play. No-rake micro-stakes games allow you to increase your bankroll if you're starting out with a small amount, and the opportunities don't end there - the same is true of the many freerolls held at...
They quote you a basic dollar amount. You pay that dollar amount – once. If you want to set up an annual or monthly meeting with your advisor, you can – and it will cost you the predetermined amount. There are no kickbacks, commissions, or percentages of assets to worry about. The...
If you are willing to do some homework and hold specific individual ETFs in your RRSP, you may be able to reduce the small amount of tax that you will be paying on your USA dividends (not on USA capital gains) if you go with an all-in-one ETF. This is a relatively small...
Interest and fees related to purchases made for your business are tax deductible. Keeping track of these amounts will make tax time a little easier. How many credit cards should businesses get? There is no ideal number of different credit cards for a company to have. But there is a case ...
A hybrid approach can work well:Having a joint account doesn’t necessarily mean closing everything else and pooling all your cash. It’s perfectly fine (and sometimes ideal) for account holders to have their own personal accounts and then pay a set amount into a joint pot of money for bi...