Employment insurance (EI) for the self-employed

Effective April 10, 2010, the self-employed people were given the option to access to special employment insurance benefits under the Fairness for the Self-employed Act. This is a good thing for the self-employed. However, whether it is beneficial to join the program depends on individual personal situation. As a self-employed, you should be aware of…

What is public transit tax credit?

Public transit amount is a non refundable tax credit for the cost of public transit passes for travel in Canada on local buses, streetcars, subways, commuter trains, or local ferries.

What are the income tax rates and brackets for 2012

Tax brackets are the amount of income that’s subject to specific income tax rate. The income means the taxable income that is after you take off allowable deductions from your total income. Here are the income tax rates and brackets for 2012.

What is GST/HST credit

The Goods and Services Tax/Harmonized Sales Tax (GST/HST) credit is to help individuals and families with low or modest incomes offset all or some of the GST or HST they pay.