View the video here on your mobile device. It may be wise to check your files – twice. Some old receipts may still have value in your 2009 return. Receipts for charitable donations and medical expense receipts could be of particular interest.
View the video here on your mobile device. Today’s tip: ask yourself who’s the boss? If self-employed, you can claim a number of business-related expenses and reduce the tax you pay. Car and parking expenses, business association fees, convention costs and home office expenses, salaries paid to assistants including family members: the list is long. [...]
View the video here on your mobile device. For today’s tip, keep it in the family. From child tax credits for children under 18 to an adoption expense credit or the child fitness credit – your family could be eligible for a host of tax reductions. Make sure you look into the possibilities.
View the video here on your mobile device. Don’t forget that sometimes less means more. You should claim all the family’s medical expenses in the lower-income spouse’s return. But remember – the individual who is making the claim should have sufficient income to absorb the entire credit. Dependent relatives’ expenses can sometimes be included.
View the video here on your mobile device. For today’s tax tip, remember that helping others pays off. If you gave to charity in 2009, you need to look into the federal tax credit for donations. This will help you decide if you should accumulate donations made over a few years or claim at once [...]
View the video here on your mobile device. Today’s tip: Share the love… and your income. If you received eligible pension income in 2009, up to 50% can be reported in your spouse’s or common-law partner’s tax return.
View the video here on your mobile device. This tax year, turn your losses into gains. Capital losses can be applied against capital gains. Your net capital losses for 2009 can be carried back three years and applied to net gains in any year from 2006 to 2008. If you incurred business investment losses, you [...]
View the video here on your mobile device. Today’s tax tip: Home, sweet home. If you bought your first home after January 27, 2009, you are entitled to a $750 credit.
View the video here on your mobile device. April 30 is the deadline to file taxes. Ernst & Young is serving up practical tips to help save you money this tax season. Check back daily to ILSTV as we present you with all 13 tax time tips. Today’s tip: Rewarding renovations. If you undertook any [...]
A new study says just over 8.9 million employed Canadian tax filers participated in a private retirement savings plan in 2008, about half of all tax filers. Coming as the federal and provincial governments begin looking at ways to reform the country’s troubled pension system, the Statistics Canada report says the proportion of private pension [...]
View the video here on your mobile device. Finance Minister Jim Flaherty insisted he is not raising new taxes on financial services, saying reports to the contrary are misplaced. With cries of foul shouted in the House of Commons, the finance minister moved to stem fears that his department is applying a new definition of [...]
View the video here on your mobile device. Ian Quigley: Well, it’s a dangerous game to make stock market predictions and I really don’t encourage financial planners or insurance agents – or really anybody – to make predictions about the stock market. But I can tell you that we can certainly reassure our clients that [...]
View the video here on your mobile device. Released on March 4, 2010 and coming in at over 330 pages, the budget it was touted as “Part 2” of the Canadian Action Plan on Economic Growth. It was entitled, “Leading the Way on Jobs and Growth” and in a pre-release statement Finance Minister Jim Flaherty [...]
View the video here on your mobile device. The parliamentary budget watchdog is warning that Ottawa needs to make major changes if it’s to counter the financial impact of an aging Canadian population. Kevin Page says that with a smaller portion of Canada’s population of working age and paying taxes, the federal debt will keep [...]
View the video here on your mobile device. Despite the economic downturn, government focus around the world has remained on tax reform. This is according to a new report released by the World Bank Group and PricewaterhouseCoopers. The report, Paying Taxes 2010 ranks the ease of paying taxes for mid-size domestic companies in 183 economies [...]
View the video here on your mobile device. Canadians are taking steps to improve their finances and keep more of their money according to a recent poll by Angus Reid Public Opinion for H&R Block Canada. Eighty-six per cent of Canadians have taken at least one step to improve their financial situation in the last [...]
View the video here on your mobile device. A recent court case in Alberta tackled the question of whether an extended warranty is insurance. The defendant in the case – the province of Alberta – had assessed tax against the plaintiff, the Brick Protection Corporation, under the Tax Statutes Amendment Act. It started in July [...]
View the video here on your mobile device. A man is seeking $3.3 million for the city of Los Angeles from Michael Jackson’s estate to cover the cost of the King of Pop’s public memorial, court filings show. Jose F. Vallejos filed a creditor’s claim for the money, stating he is entitled to seek reimbursement [...]
