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Form T1135 Foreign Income Verification Statement must be filed by any Canadian resident who, at any time during the year, owned specified foreign property with a total cost in excess of $100,000. Form T1135 must also be filed by corporations and trusts resident in Canada and partnerships whose non-resident members’ share of income or loss…
The federal income tax rates for income earned by a general corporation for 2012 and beyond:
Small business deduction (SBD) reduces part I tax that the corporation would otherwise have to pay. It is only available to corporations that were Canadian-controlled private corporations (CCPCs) throughout the tax year.
The first-time donor’s super credit (FDSC) was introduced by the federal government in its Budget 2013. It is a temporary supplement to the existing non-refundable tax credit for charitable donations. It adds 25 percentage points to the federal charitable donation tax credit (CDTC) for eligible donors. FDSC can be claimed once between the 2013 and…
The following table lists the provincial income tax rates and brackets of British Columbia for 2012. It is based on the taxable income.
The following tables lists the income tax rates and brackets in Nova Scotia for 2014. It is based on taxable income.
The following tables lists the income tax rates and brackets in Nova Scotia for 2013. It is based on taxable income.
The following tables lists the income tax rates and brackets in Nova Scotia for 2015. It is based on taxable income.
You may have difficulty in dealing with the Canada Revenue Agency (CRA). Or you just don’t like to or have no time to do it. You can authorize someone else as your representative for your income tax matters.
The following table lists the income tax rates and brackets in Newfoundland and Labrador in 2014. It is based on taxable income.