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How to calculate Capital Cost Allowance (CCA) - an example - part three
http://www.allabouttax.ca/articles-tax/165-how-to-calculate-capital-cost-allowance-cca-an-example-part-three.html
Jump to main navigation and login. Jump to additional information. How to calculate Capital Cost Allowance (CCA) - an example - part three. This is part three of the example about how to calculate Capital Cost Allowance (CCA). Click her for part two. ABC Inc. purchased one piece of equipment on January 18, 2012 for $12,000. The equipment purchased on December 17, 2011 ( see part two. Was sold for $5,000 on June 19, 2012. We assume ABC Inc. deducted the maximum CCA in 2011. Undepreciated Capital Cost (UCC).
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What is GST/HST credit
http://www.allabouttax.ca/articles-tax/31-what-is-gst-hst-credit.html
Jump to main navigation and login. Jump to additional information. What is GST/HST credit. The Goods and Services Tax/Harmonized Sales Tax (GST/HST) credit is to help individuals and families with low or modest incomes offset all or some of the GST or HST they pay. For those married or living common-law partner, only one of them can apply for the credit. No matter which one applies, the credit will be the same. Or write a letter to the CRA stating you would like to apply for it. The GST/HST credit is not...
allabouttax.ca
How to calculate Capital Cost Allowance (CCA) - an example - part two
http://www.allabouttax.ca/articles-tax/141-how-to-calculate-capital-cost-allowance-cca-an-example-part-two.html
Jump to main navigation and login. Jump to additional information. How to calculate Capital Cost Allowance (CCA) - an example - part two. This is part two of the example about how to calculate Capital Cost Allowance (CCA). Click here for part one. ABC Inc. purchased two pieces of equipment in 2011. One cost $12,000 and was purchased on March 26, 2011. The other cost $8,000 and was purchased on December 17, 2011. We assume ABC Inc. deducted the maximum CCA in 2010. That was $1,000. Part 2 Part 3. Charity ...
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How to report your commission income and claim your expenses on your tax return?
http://www.allabouttax.ca/articles-tax/79-how-to-report-your-commission-income-and-claim-your-expenses-on-your-tax-return.html
Jump to main navigation and login. Jump to additional information. How to report your commission income and claim your expenses on your tax return? As a salesperson, you can either be classified as an employee earning commission income or as a self-employed commission salesperson. How to report your commission income and claim your expenses on your tax return depends on which category you are in. Employees earning commission income. If you are a self-employed commission salesperson, you will receive a T4...
allabouttax.ca
How to calculate Capital Cost Allowance (CCA) – an example
http://www.allabouttax.ca/articles-tax/76-how-to-calculate-capital-cost-allowance-cca-an-example.html
Jump to main navigation and login. Jump to additional information. How to calculate Capital Cost Allowance (CCA) an example. It is much easier to understand the calculation of capital cost allowance (CCA). ABC Inc. started business on October 20, 2010. The year end was set at December 31. Equipment were purchased on November 4 for $45,000. The transportation cost $4,000 and the installation fee was $1,000. What is the maximum CCA for its equipment that ABC Inc. could deduct for taxation year 2010? What t...
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What is caregiver amount?
http://www.allabouttax.ca/articles-tax/78-what-is-caregiver-amount.html
Jump to main navigation and login. Jump to additional information. What is caregiver amount? If, at any time during the year, you (either alone or with another person) maintained a dwelling where you and one or more of your dependants lived, you may claim this credit for each dependant. To qualify you for caregiver amount, you dependant must meet certain conditions. Get your tax done by a professional without leaving your home! How much is the credit. If you are eligible for family caregiver amount.
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Canada Pension Plan (CPP) for the self-employed
http://www.allabouttax.ca/articles-tax/32-canada-pension-plan-cpp-for-the-self-employed.html
Jump to main navigation and login. Jump to additional information. Canada Pension Plan (CPP) for the self-employed. If you are self-employed, you have to pay Canada Pension Plan (CPP) contribution based on your net profit (after expenses). How is the contribution calculated? The first $3,500 of earnings is exempt. The contribution is calculated by multiplying the remainder (up to maximum) by the contribution rate. 1) Net earning is $3,000: no contribution is required because the earning is under $3,500.
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Employment insurance (EI) for the self-employed
http://www.allabouttax.ca/articles-tax/35-employment-insurance-ei-for-the-self-employed.html
Jump to main navigation and login. Jump to additional information. Employment insurance (EI) for the self-employed. Effective April 10, 2010, the self-employed people were given the option to access to special employment insurance benefits under the. Fairness for the Self-employed Act. The EI benefits available to the self-employed people are limited benefits. They do not cover regular EI benefits due to lay-offs or business slow-downs. What are employment insurance special benefits for self-employed?
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How to determine the GST/HST rate for inter-provincial sales of goods
http://www.allabouttax.ca/articles-tax/54-how-to-determine-the-gst-hst-rate-for-inter-provincial-sales-of-goods.html
Jump to main navigation and login. Jump to additional information. How to determine the GST/HST rate for inter-provincial sales of goods. In order to determine the relevant rate of GST or HST. To charge on a particular supply, you must first determine the province in which the supply is made. The rules that are used to determine the province in which the supply is made are referred to as place of supply rules. It is easier to understand the rules by looking at a few examples. Liberals roll back TFSA cont...
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How much is basic Canada child tax benefit?
http://www.allabouttax.ca/articles-tax/116-how-much-is-basic-canada-child-tax-benefit.html
Jump to main navigation and login. Jump to additional information. How much is basic Canada child tax benefit? The amount of basic Canada child tax benefit (CCTB) for July 2015 to June 2016. 1,47096 (122.58 per month) for each child under age 18; and. A supplement of $102.96 ($8.58 per month) for your third and each additional child. The benefit is reduced if your adjusted family net income. Is more than $44,701. The reduction is calculated as follows:. That is more than $44,701. That is more than $44,701.
