Am arm’s length transaction is a transaction between persons who each act in their own self-interest. Related persons are not considered to deal with each other at arm’s length.
Arm’s length transaction
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Month: May 2013
Common-law partner
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Common-law partner applies to a person who is not your spouse, with whom you are living in a conjugal relationship, and to whom at least one of the following situations applies. He or she:
How much is basic Canada child tax benefit in Alberta 2014-2015
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The Alberta government has chosen to vary the Canada child tax benefit (CCTB) amounts based on the age of each child. For Alberta residents, the basic monthly benefit for the benefit year from July 2014 to June 2015 is:
Basic Canada child tax benefit in Alberta 2013-2014
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The Alberta government has chosen to vary the Canada child tax benefit (CCTB) amounts based on the age of each child. For Alberta residents, the basic monthly benefit for the benefit year from July 2013 to June 2014 is:
How much is basic Canada child tax benefit in Alberta 2012-2013
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The Alberta government has chosen to vary the Canada child care tax benefit (CCTB) amounts based on the age of each child. For Alberta residents, the basic monthly benefit for the benefit year from July 2012 to June 2013 is:
How much is basic Canada child tax benefit in Alberta
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The Alberta government has chosen to vary the Canada child tax benefit (CCTB) amounts based on the age of each child. For Alberta residents, the basic monthly benefit for the benefit year from July 2015 to June 2016 is:
What is the deadline to file your SR&ED claim?
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The deadline to file your SR&ED claim is the day that is 12 months after the filing due date of the income tax return for the year.
What expenditures are eligible for SR&ED investment tax credit?
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Once you determine a project that qualifies for SR&ED investment tax credit, you can claim the following expenditure associated with the project:
How to value inventory for income tax purpose
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In accounting, there are different methods to value inventory. When it comes to income tax, there are specific rules your have to follow to value your inventory since the value you place on the items in your-year-end inventory is important in determining your income, and thus income tax.
For how long do I have to keep my records?
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If you file your income tax returns on time, you must retain your records for six years after the end of tax year to which they relate. For example, you must keep your records for your 2012 taxation year until the end of year 2018.