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The articles and information in your Everyday Guidebook is provided by sponsors from across Canada who believe in building community by connecting neighbours. To help strengthen these connections, they have made a commitment to share these useful articles on everyday topics for your benefit. You will find that many items apply across Canada, while some are specific to your region or Province.
Non-refundable Personal Tax Credits
December 8, 2008 -- Federal, provincial and territorial non-refundable personal tax credits (excluding Québec - see below) A non-refundable tax credit can only be used to...
RRSP Limits
December 8, 2008 -- Who can contribute, and how much?Anyone with "earned income" can contribute to an RRSP, up to and including the year that the contributor tu...
Changing your tax return once you have already filed it
June 11, 2008 --
If you have filed your return and then determine that you need to make a
change, either because you have received another T-slip, or because you ...
Provincial child fitness tax credit
December 18, 2007 -- Federal child fitness tax creditIncome Tax Act s. 118.03, Regulations s. 9400Starting in 2007, there is a federal non-refundable tax credit available ...
Should I hold my investments in a holding company?
December 4, 2007 -- You may be wondering if you would be better off to form a corporation to hold your investments, rather than holding them personally. Unfortunately, t...
What tax is deducted from RRIF or RRSP withdrawals?
December 4, 2007 -- When a single lump sum amount is withdrawn from an RRSP, the amount of tax that will be withheld is: Withdrawal Amount % Tax WithheldFrom $0 to $5,000...
Pension income splitting
December 4, 2007 -- Beginning with the 2007 tax year, Canadian residents may split certain pension income with their resident spouse or common-law partner. Up to 1/2 of p...
Is it better to invest in RRSPs or in a non-registered account?
November 21, 2007 -- Is it better to invest in RRSPs or in a non-registered account?For the average Canadian taxpayer, it is usually better to invest in RRSPs, because:you...
Did you stay home to raise young children? Apply for the Child Rearing Drop-out Benefits
November 12, 2007 -- Did you stay home to raise young children? Make
sure you apply for the Child Rearing Drop-out when you apply for any CPP
benefits.
If your ch...
Dividend Tax Credit
February 3, 2007 -- 1. Dividend tax credit
The dividend tax credit is a non-refundable tax credit.
Canadian dividend income may be included in the income of either ...
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