Chapter 3, "Electronic filing in XML format," contains information that you can use to prepare T4/T4A slips and RL-1 forms with Canadian Payroll for magnetic media filing in XML format.Chapter 4, "Tax updates," describes the federal and provincial or territorial tax changes for 2020....
CANADIAN FEDERAL TAX CONSIDERATIONSThe principles governing the determination of whether an expenditure for developing, acquiring or using intellectual property is fully deductible for purposes of the Act are essentially the same as for other types of expenditures. Subsection 9(1) of the Act provides ...
For every dollar above that amount, you’re going to pay the general corporate tax rate that we discussed before. The effective federal tax (after all that weird accounting) is 15%, and then you have to add the provincial taxes as well. Below is a chart showing the provincial general cor...
Federal Budget 2015/Worker$288 B$15,000 Est. 2015 Income Tax/Worker$180.6 B$9,405 Est 2015 Consumption Tax/Worker$50.2 B$2,615 Education Cost/Student$55 B$7,857 (Data Source: Statistics Canada) "There is no HOPE in our past, only HOPE in our future."... Jim Reid CFP Founder ...
Further the notice that pops up says "This employee is missing the following information required to submit state and federal tax forms." Last time I checked we have NO STATES in Canada, and our T4's are issued to Revenue Canada. We are paying more ...
1) There are actually two different dividend tax credits: the Provincial Dividend Tax Credit and the Federal Dividend Tax Credit 2) The reason for these tax credits is rooted in the idea of tax fairness. Because businesses pay corporate taxes before money is disbursed to shareholders, there is...
1) There are actually two different dividend tax credits: the Provincial Dividend Tax Credit and the Federal Dividend Tax Credit 2) The reason for these tax credits is rooted in the idea of tax fairness. Because businesses pay corporate taxes before money is disbursed to shareholders, there is...
150 Years of Federal Consumption Taxation In the run up to Canada Day and the 150th anniversary of Canadian Confederation, here is another in a line of recent snapshots of the federal government – this time its consumption tax revenues. Why consumption taxes? Well, economists like to make the...
StudioTax can handle most of the tax situations. However, StudioTax is not certified for non-residents returns and for returns that require the following forms: Federal Forms -Form T1273 STATEMENT A - Harmonized CAIS Program Information and Statement of Farming Activities for Individuals ...
If a company pays $20 dividends per share, investors will claim $20 x 1.38 = $27.60 per share, and the Federal Dividend Tax Credit will partially offset this gross-up. The grossed-up amount is included in the taxpayer’s income tax form as taxable income. Canadian federal and provincial ...