Daycare center fees, educational institution fees, boarding skills and other expenses listed on the CRA website qualify for child care expenses. College education expense To claim tuition fee tax credits, you can fill out form T2202. If you are studying at a university outside of Canada or ...
Spousal Loans at the Prescribed Rate: Lend money to a spouse at the CRA’s prescribed rate for investment, with the investment income taxed in the lower-income spouse’s hands. See my section below for more details. Capital Gains Splitting: Sharing the sale profits of assets between spouses ...
Production quotas allocate quantified rights to specific producers and are a common policy instrument to control the output and prices of agricultural commodities and have been effectively applied, e.g. for dairy and sugar in the EU (Tangermann and von Cramon-Taubadel, 2013) or for tobacco and...
The legislative proposals confirm the fall economic statement that expense deductions for such operators will be denied. These operators, from an income tax perspective, are apparentlyworse than criminal drug dealerswho do not have such an expense deduction prohibition (if they choose to report their ...
expected to have those receipts and be able to produce them when asked. And the CRA expects actual receipts for your business expenses, not bank or credit card statements. All a bank or credit card statement proves is that a payment was made—it doesn't verify the nature of the expense....
IncomeTaxes RCJChapter13 PaulZarowin2 KeyIssues 1.Book(financialstatement)vs.taxableincome 2.Permanentdifferences 3.Effectivevs.statutorytaxrates 4.Temporary(timing)differences 5.Deferredtaxes:Assets,Liabilities,Expense 6.Possiblecasesandexamples 7.Componentsofincometaxexpense(currentvsdeferred) 8.Taxjournalen...
The idea is that I will not give them a single penny personally: Whatever they need (as long as I approve the expense, of course!) will come as a dividend from the holding company, through the trust and in to their hands as low (or no) tax dollars. Another advantage: Because the ...
The idea is that I will not give them a single penny personally: Whatever they need (as long as I approve the expense, of course!) will come as a dividend from the holding company, through the trust and in to their hands as low (or no) tax dollars. Another advantage: Because the ...