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- Got Cheered for If this was purely for cosmetic purposes, you cannot clai.... April 23, 2020 7:30 AM
- Got Cheered for Line 104 is the appropriate line to report these casual e.... December 17, 2019 12:28 PM
- Posted Yes. These are considered class 8 assets; rate 20%. You... on Self-employed. October 31, 2019 11:10 AM
- Posted In the profile area, answer that you have disposed of cap... on Filing. October 31, 2019 11:10 AM
- Posted Your question is FAR to complex.to answer on this forum.... on Filing. October 31, 2019 11:10 AM
- Posted Is it possible that you already have a net rental loss be... on Self-employed. October 31, 2019 11:09 AM
- Posted The initiation fees are NOT deductible. According to CRA... on Getting started. October 30, 2019 2:57 AM
- Posted According to CRA: Computers, cell phones, and other eq... on Troubleshooting. October 30, 2019 2:37 AM
- Posted If filing a Canadian tax return, all amounts reported or... on Getting started. October 30, 2019 2:15 AM
- Posted Regarding transit passes for your daughter, you cannot cl... on Credits and deductions. October 30, 2019 1:45 AM
- Posted No. As long as the funds were directly transferred from... on Seniors and students. October 30, 2019 1:39 AM
- Posted Sorry, but no. CRA says you can only claim the Cost of b... on Investors and rental owners. October 30, 2019 1:21 AM
- Posted No. Only the membership fee or cost of registration in a... on Credits and deductions. October 30, 2019 1:01 AM
- Posted Yes, but there is a limit of up to $2,000 AND certain con... on Self-employed. October 30, 2019 12:47 AM
- Posted It does not matter what other sources of income you may h... on Self-employed. October 30, 2019 12:41 AM
- Posted No. You cannot use CCA to create or increase a rental lo... on Self-employed. October 30, 2019 12:41 AM
- Posted Ignore the warning....perhaps turbotax wants you to purch... on Credits and deductions. October 29, 2019 11:26 PM
- Posted No... For purposes of the Ontario Trillium Benefit, you c... on Investors and rental owners. October 29, 2019 11:26 PM
- Posted Yes...Put Nipissing. North Bay is in the district of Nipi... on Credits and deductions. October 29, 2019 11:26 PM
- Posted You're welcome on Troubleshooting. October 29, 2019 11:26 PM
October 31, 2019
11:10 AM
Yes. These are considered class 8 assets; rate 20%. You may want to consider a personal element with regard to the snow blower. For more info please see http://www.cra-arc.gc.ca/tx/bsnss/tpcs/slprtnr/rprtng/cptl/dprcbl-eng.html#class8
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October 31, 2019
11:10 AM
In the profile area, answer that you have disposed of capital property
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October 31, 2019
11:10 AM
Your question is FAR to complex.to answer on this forum. The election under SS 85(1) to transfer property to a Taxable Canadian corporation must be filed and approved by CRA. They will consider the value of the share plus non-share consideration to determine the tax consequences of this transfer. The services of a qualified tax professional are strongly recommended as the tax consequences can be significant for both the transferor and the transferee if not properly handled and reported.. For more info please see http://www.cra-arc.gc.ca/E/pub/tp/it291r3/it291r3-e.html
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October 31, 2019
11:09 AM
Is it possible that you already have a net rental loss before claiming CCA? You should be aware that you cannot create or increase a rental loss by claiming CCA. Also, the half-rate rule applies to the additions you make during the year. Because of this you do not have to pro-rate CCA further by the 2 months out of 12 that you owned the property. For more info please see http://www.cra-arc.gc.ca/tx/bsnss/tpcs/rntl/cca-dpa/mch-eng.html
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October 30, 2019
2:57 AM
The initiation fees are NOT deductible. According to CRA: Annual membership dues do not include initiation fees, licences, special
assessments, or charges for anything other than the organization's ordinary
operating costs. For more info, please see http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/ddctns/lns206-236/212/menu-eng.html
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October 30, 2019
2:37 AM
According to CRA: Computers, cell phones, and other equipment - You can deduct
the part of the airtime expenses for a cell phone that reasonably relates to
earning your employment income. However, you cannot deduct amounts you paid to
connect or license the cell phone or the cost of fees for Internet
service. For more info on allowable employment expenses, please see http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/ddctns/lns206-236/229/slry/sppls-eng.htm...
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October 30, 2019
2:15 AM
If filing a Canadian tax return, all amounts reported or claimed must be entered in Canadian dollars.
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October 30, 2019
1:45 AM
Regarding transit passes for your daughter, you cannot claim these unless she was under 19 years of age on Dec 31/16. For this and more info on transit passes, please see http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/ddctns/lns360-390/364/wh-eng.html
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October 30, 2019
1:39 AM
No. As long as the funds were directly transferred from one institution to the other, there are no tax consequences. For more info, please see http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/rrsp-reer/trnsfrrng/menu-eng.html
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October 30, 2019
1:21 AM
Sorry, but no. CRA says you can only claim the Cost of buying your new home if you or your spouse or
common-law partner sold your old home because of your move. Because you were renting at your previous residence, these expenses are not eligible. For this and more info on eligible moving expenses, please see http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/ddctns/lns206-236/219/xpnss-eng.html
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