Personal Residence property.

    Previously the sale of the principal residence (home) was not required to be reported on the tax return. 
    Starting 2016 the rules have changed, anyone selling the house has to be reported on the tax return. if the home owner is not Canadian resident or       has a significant rental income then capital gains apply, please ask your tax filer for details

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Charitable donations

posted Dec 26, 2011, 9:02 AM by Nasir Qamar   [ updated Jan 4, 2012, 7:02 AM ]

In Canada  charitable donations are tax deductible subject to  they are given to a registered charitable organization.
  • Always take a receipt when giving a donation.
  • Keep your receipts
  • You can use the donations given in the last five years. so accumulate them for max benefit
  • Charitable donations can be used by either spouse, except the donation on the t4. 
  • Carry forward (5 years), accumulate and use your donations diligently.

Me & my Tax Practise

posted Dec 26, 2011, 8:56 AM by Nasir Qamar

Welcome to  our  blog for tax practice.

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