Brief Guide to Personal Income Tax Preparations
Income Tax season is coming upon us and to most of us it is time to get some $$$ back. However, most of us don't really know what we are entitled to and what we can really get back because we either take our taxes to a company that only cares how much they make in fees , or by ourselves and we don't really utilize the Income Tax form. Here is a guide that will help you better prepare yourself for the season. ================ Tax Regulation Changes: ================ The following changes took place within last year or the year before that you can take advantage of: *Increased Base Amount *Allowable tax refund on Public Transit. *Bigger CCA allowance for businesses. *Tax incentive for SR&D (Research and Development) *Increased Home Buyer non-taxable withdrawal limit , and for renovations. *Tax incentive for child care business expansion. *Increased limit on Tuition and books tax credit. *Allowable tax credit for child's recreational activities and child ca...