“Soft” Loans for Your Children

Parents quite often make loans to their adult children to help them purchase a car, a home, or for other reasons. A loan is different from a gift. The parent can charge interest so that the loan will earn some investment income. The loan can be set up for blended payments of principal and interest Read More

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By |November 1st, 2013|SmallBiz Builder|

2013 Tax System Indexation

On January 1, 2013, all indexed personal income tax amounts, including tax bracket thresholds and amounts used to calculate non-refundable tax credits, were adjusted by 2.0%. The Canada Child Tax Benefit and the goods and services tax credit will take effect July 1, 2013.

For 2013 the federal tax bracket thresholds are:

22% for taxable income above Read More

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By |February 13th, 2013|Tax Tips|