tax planning
Eligible and Non-eligible Dividends
Eligible dividends An eligible dividend is any taxable dividend paid to a resident of Canada by a Canadian corporation that is designated by that corporation to be an eligible dividend.…
tax planning
Meals and Entertainment Cost 100% Dedcution
Usually deduction of meals and beverages cost is limited to 50%. This general rules also applies to the cost of meals and entertainment for employees. However there are few exceptions…
Private Health Services Plan Premiums Deductibility
Deducting Private Health Insurance Payments Under ITA S20.01, you can deduct premiums paid to a private health services plan (PHSP) from self-employment income if you meet the following conditions; …
Income Splitting with Minor Kids
Splitting Income with Minor Kids to Save Taxes One way to reduce your taxes is to split income with your family. This is one of the popular tax planning strategy.…