TFSAs - How to Maximize Your Investment Returns
The tax-free savings account (TFSA) lets you park your hard-earned money and earn interest tax-free. Any contributions to the account and withdrawals are not subject to taxes, at any time. If you are a Canadian resident of age 18 with a valid social insurance number (SIN), you can open a TFSA with most banks, credit unions, and insurance companies. You can contribute a maximum of $7,000 for the year 2024.
Canada Tax Changes that Will Come into Effect in 2024
Some important tax rule changes will take place in 2024 that may affect you as an employee or an employer. The amount you owe in taxes will directly change as a result of these changes.
Let’s dive in to know these key changes.
Canadian Tax Season 2024 - Tax Credits, Rates, Due Dates, and When to File Your Returns
Know key dates, tax brackets, and important changes to keep your taxes on track. We have got you covered with all the information you need as the tax season 2024 begins. First, you should know the tax brackets and your tax liabilities to the Canadian Revenue Authority (CRA).
Tax Advantages of the First Home Savings Account (FHSA)
First Home Saving Accounts (FHSAs) are enacted through Bill C-32 and provide Canadians an opportunity to save for their first home purchases with different tax benefits.
Why should you read The Z-Book?
This book is designed to give an overview of the SR&ED Program of the Canadian Tax Credits & Refunds System to the busy executive and the business owner/manager. In order to keep the Canadian businesses competitive in the present global market, the Canadian government offers one of the most generous incentives to Canadian businesses to encourage them to engage in scientific research and experimental development (SR&ED). It is also available to foreign corporations conducting SR&ED in Canada. It is estimated that only a very small fraction of those eligible actually apply for this credit. It is also estimated that in the last fiscal year tax credits running into billions of dollars were approved, including refunds to eligible businesses. There is no upper limit set by the Government as to the amount of tax credits it is willing to give to eligible businesses with regard to SR&ED.
*Note: This book was released in 2011 and laws change over time. Seek professional advice.
