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Know it or not, everyone has a vested interest in the stock market … even if you're not an equities investor
Tell a stock market investor that investing in equities is a risky venture and you may find yourself with one less friend. With the current bear market showing few signs of letting up, equity investors have been taking it on the chin during the past year or so. Think you’re not an equity investor? Think again. Whether we know it or not, most of us have a vested interest in the stock market.

Student moving expenses deductible against income from scholarships, fellowships and bursaries
Where a move from out of town is involved students may find some tax assistance is available to help out with the cost. Students can only deduct moving expenses if they move to attend courses as a full-time student. To be considered full-time, a student must take 60 per cent or more of the usual program course load at a post-secondary school such as a university, college or technical institute.

Tax Court of Canada decisions impose penalties on taxpayers making false statements or omissions
Tax Court of Canada rendered decisions in a series of cases concerning the application of certain penalty provisions of the Income Tax Act. Court cases where taxpayers contest the imposition of penalties are not unusual but what piqued my curiosity in this situation was a common thread through each of the cases.

Tax-deductible interest based on income-yielding investments as defined by the CCRA
I’ll review several common situations where interest deductibility is an issue and provide CCRA’s interpretation in each case. The question CCRA will ask in these situations will be: “After considering all of the circumstances, did the taxpayer have a reasonable expectation of income at the time the investment was made (absent a sham, window dressing or other vitiating circumstances)?”

Taxpayers obligated to maintain proper books and records to support tax deductions and employment expenses
A recent court case highlighted the important role books and records can play in situations where taxpayers are required to defend themselves. Unfortunately, as is often the case, it was the poor books and records at issue and not a situation wherein impeccable record-keeping saved the day

:: CCRA wants to slam door shut on certain Medical Expense Claims
CCRA wants to slam door shut on certain Medical Expense Claims

The impact of income tax on the investment returns in Canada
Dividend income earned in Canada is eligible for a dividend tax credit that works to reduce the impact of income tax on the recipient

Everyone likes to save income tax and RRSPs fit the bill quite nicely.
Knowing that investment income earned inside an RRSP is not subject to income tax, can investors simply ignore income tax when making their investment decisions where RRSPs are concerned?

Onslaught of tax shelters and creative tax-saving schemes is no accident at this time of year
The end of the year always brings an onslaught of tax shelters and other creative tax-saving schemes. The timing of this marketing blitzkrieg is no accident since many taxpayers turn their minds to tax reduction. Equally predictable is CCRA issuing a warning to taxpayers about the perils of ill-conceived tax plans.

Underground economy based on cash to avoid income taxes and GST, but CCRA pursuing tax evasion
Have you ever purchased a good or service only to have the vendor offer to sell at two different prices – one price for payment in cash and another for a non-cash payment? Who hasn’t right? Can you say underground economy? In an effort to combat the proliferation of non-compliant taxpayers, CCRA does pursue cases of tax evasion.

University tuition and room & board fees can result in tax-savings for parents or students if they work together when filing tax returns
The Waltons and Happy Days were television shows in my day that depicted fully-functional families where all members worked together for the common good. Real life experience tells us otherwise but in the income tax world it is possible for parents and their children to help each other out a little bit.

Frequently asked question: Why should I invest in an RRSP?
Why should I invest in an RRSP? There are basically two key tax benefits to investing in RRSP!

business expenses incometaxcanada.net income tax advice for canadians
business expenses advice from incometaxcanada.net to help you save income tax

CPP Canada Pension Plan - incometaxcanada.net income tax advice for canadians
CPP Canada Pension Plan advice from incometaxcanada.net to help you save income tax in Canada

CCRA Rulings :: incometaxcanada.net income tax advice for canadians
CCRA Rulings advice from incometaxcanada.net to help you save income tax

CCRA Rulings 2 :: incometaxcanada.net income tax advice for canadians
CCRA Rulings advice from incometaxcanada.net to help you save income tax

Canadian Income Tax deductions rulings change each year
Canadian Income Tax deductions rulings change each year. incometaxcanada.net offers advice on allowable tax deductions.

Educations - incometaxcanada.net income tax advice for canadians
education tax advice from incometaxcanada.net to help you save income tax in Canada

information to help you understand how the Federal Government applies changes to Canadian Income Tax
information to help you understand how the Federal Government applies changes to Canadian Income Tax

information to help you understand your options for Income Tax Preparation
information to help you understand your options for Income Tax Preparation

mutual funds - incometaxcanada.net income tax advice for canadians
mutual funds advice from incometaxcanada.net to help you save income tax in Canada

RRSPs - incometaxcanada.net income tax advice for canadians
RRSP advice from incometaxcanada.net to help you save income tax in Canada

Tax Brackets - incometaxcanada.net income tax advice for canadians
tax brackets advice from incometaxcanada.net to help you save income tax in Canada

maximize the Tax Credits for your Canadian Income Tax.
Maximize the Tax Credits for your Canadian Income Tax to help you save tax money.

maximize tax planning for your Canadian Income Tax.
Maximize tax planning for your Canadian Income Tax to help you save tax money.


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