Akonstax

Condo managers decry HST

As the RRSP season approaches I start scooping new stuff about  Mutual Funds and other investments . T-series funds made me inquisitive. Little research revealed that these  are tax efficient income generating funds which distribute a percentage of annualized distribution. Sometimes but often they also return part of capital which is not immidiately taxed . Tax is deferred until units are sold. However, the Adjusted cost base ( ACB ) is reduced by such return of capital  (ROC) Here is useful commentary  on T -series in an article published in Toronto Star by Rudy Luukko of Morning Star Canada. The problem: You're a long-term investor who likes the higher growth potential of equity and balanced funds, but you need cash every month, more than the fund can pay out in income and capital gains. The solution: T-series funds. They're designed for non-registered accounts and are becoming an increasingly common purchase option. The "T" is short...

The perils of writing off the mortgage : "A new court decision reminds us how critical it is when rearranging your debt to do so legally."

List of Capital Cost Allowance classes and rates are available on this page. CCA Classes

                                                    Tax Year -2009  Tax tips which  will help you  plan your taxes before tax filing. Maintain a Travel Log for distance you cover for personal driving or driving for employment. If you are a commissioned employee you can claim Employment related expenses as long as you are required by your employment to have these expenses incurred by you. examples of such expenses are parking, gas expenses, train fares , home office expenses like office supplies, salary paid to any staff etc. Your employer has to sign Form T2200 to confirm tha by terms of employment you are supposed to bear the cost of employment related expenses. Do you know you can deduct interest on amount ...

                                     What's New in 2010 Compared to 2009 2010 Federal tax rates and income thresholds 2010                                 2009 $0-$40.970                  $ 0- $41,200                 15% $40790-81,941          $41,200-$82,399              22% $81,941-$127,021      $82,399-$126,264    ...