Posts Tagged tax savings
Ontario Tuition Grant
More than 300,000 college and university students in Ontario whose parents' income is less than $160,000 are now eligible to apply for the Ontario Tuition Grant. This is a new program that will provide a 30 per cent tuition rebate to qualified students and aims ...
0 Comment | Posted in Financial Planning for Business Owners,Tax Planning
January 23, 2012
Less Favorable Rules for Donation of Publicly Listed Flow-Through Shares
Before the 2011 budget, when flow-through shares were donated to a charitable organization, the donor could receive generous tax credits and deductions that would result in little after-tax cost. This was due to the fact that the donor could take advantage of the deduction for ...
0 Comment | Posted in Charitable Giving,Estate Planning,Financial Planning for Business Owners,Investments,Retirement Planning,Tax Planning
July 31, 2011
New Tax Treatment for U.S. Social Security Benefits
Effective January 1, 1996, the Canada-United States Tax Convention was modified to require Canadian residents to include 85% of U.S. Social Security benefits received in taxable income. This was an increase from the previous 50% inclusion rate. Budget 2010 proposed to reduce the inclusion rate ...
3 Comments | Posted in Financial Planning for Business Owners,Long Term Care Insurance,Tax Planning
November 19, 2010
Save Tax by Purchasing Flow-through Limited Partnership Units
Although flow-through limited partnerships are not suitable for all investors, they can be used to defer tax payable in the year of a capital gain. Because flow through shares provide deductions against taxable income (typically within the first two years of purchase), the deductions ...
24 Comments | Posted in Financial Planning for Business Owners,Flow-Through Limited Partnerships,Savings and Investments,Tax Planning
February 21, 2010
