By : Jerry – The Easy Tax Guy

Income Tax Act

Did you know that you could get a tax write off for parking tickets or speeding tickets??

Did you get, this year

between $100 to $500 worth of tickets?

The Real cost of these tickets to you before tax is $200 to $1000.

Read more »

By : Jerry – The Easy Tax Guy

Income Tax Act s. 3(b), 111(1)(b), 111(2)

Compress Capital Gains

Only 50% of a capital gain is taxed, and the gain is not included in income until the item is sold, allowing you to compound your returns tax-free until you sell.

A capital gain or loss Read more »

By Jerry – The Easy Tax Guy

Fans of Lacrosse, Baseball, Ministries,  Universal Aid etc, must read this article. This may have an effect on your taxes if you donated to these organizations.

It is good to donate to Charities, and get a tax break. At the same time you must do your due diligence Read more »

By Jerry – The Easy Tax Guy

How many taxes do we pay in Canada?

I am going to list a few of these taxes that we pay.

Tax on Income,
Tax on  tobacco,
Tax on drinks,
Tax on car,
Tax on gas,
Tax on coffin,
Tax on grave,
The Inheritance Tax, Read more »

How much tax credit do I get on my Charitable Donations?

As per Income Tax Act s. 118.1(1), 118.1(3) — Below is a summary of this tax law.

By : Richard – Easy Tax Canada

Maximize your Tax Credit

Up to 75% of a taxpayer’s net income can be claimed as donations, except in the year of death or the year preceding death, when 100% of net income can be claimed as donations. Read more »