Tax Reforms

Taxing of Cryptocurrency

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Digital Currency is Taxable Commodity? Taxing of Cryptocurrency - Despite its name, cryptocurrencies status as a "currency" remains very much in question. In 2013, the...
Tax Reforms

Regulation of Cryptocurrency

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Regulation of Cryptocurrency - Canada allows the use of digital currencies, including cryptocurrencies. However, cryptocurrencies are not considered legal tender in Canada. Canada’s tax...
Tax Reforms

Impact Of Bitcoin On Tax

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Impact Of Bitcoin On Tax - Bitcoin is a relatively new e-currency payment system that is not operated by a centralized government authority like...
Tax Reforms

Canada and Cryptocurrency

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Canada and Cryptocurrency- Cryptocurrency is taxed like any other investment in Canada. 50% of the gains are taxable and added to your income for...
Tax Reforms

Impact of Bitcoin on Tax

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Impact of Bitcoin on Tax - Bitcoin is a relatively new e-currency payment system that is not operated by a centralized government authority like...
Tax Reforms

Bitcoin Tax

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Bitcoin Tax - The lack of official information on cryptocurrency and bitcoin taxation is not making Canadian taxpayers’ lives easier. The Canada Revenue Agency...
Tax Reforms

Deductions in Canadian Taxation

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Deductions in Canadian Taxation   Registered Retirement Savings Plan (RRSP)   Contributions to RRSPs are deductible from total income, reducing income tax payable for the year in...
Tax Reforms

Rental and Business Income

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Rental and Business Income Rental and Business Incomes won’t require the T-slips given by recognized authorities to attach it to the returns as they are...
Tax Reforms

Tax Payables, Canadian Taxation

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Tax Payables, Canadian Taxation - TAX PAYABLE The following are the steps involved in the calculation of the tax and the taxable income Step 1> Total...
Tax Reforms

Refundable Tax Credits, Benefits &amp T1 Adjustments

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Refundable Tax Credits Refundable Tax Credits, Benefits &amp T1 Adjustments - A list of provincial tax credits and benefits available to single people and families...