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Effective Income Splitting Needs Professional Pre Planning

Income Splitting Pre Planning We are now firmly into the 2015 calendar year and with the New Year come new tax laws aimed at reducing your family’s tax burden (eg. recently announced family tax cuts) and changes to existing tax laws that reduce old benefits (eg. higher personal taxes on ineligible dividends). Ineligible Dividends Ineligible dividends are essentially the type

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Lack of Sophistication May Not Get You Off the Hook With CRA

Vancouver Tax Audit Services: the CRA’s Negligence Penalty The CTV news show W5 aired an episode on February 9, 2014 called Punitive Penalties about a program named the Fiscal Arbitrators where 1804 Canadian taxpayers paid thousands of dollars to be part of what they thought was a legal tax scheme. The scheme did not end well as the participating taxpayers were

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Which Canadian Personal Income Tax Deductions are Worth The Fuss?

Which Canadian Personal Income Tax Deductions are Worth the Hassle? As spring draws near, Canadians can look forward to cherry blossoms and spring skiing.  Another event is the filing of their personal income tax returns. With all the tax deductions and credits rules in the Income Tax Act, compiling all the information for your tax accountant to complete your personal

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