turbotax comparison chart
 
| | |

Public Transit Pass Tax Credit

Posted by: Frugalis.ca
If you are a commuter using a monthly or longer public transit pass, you may be eligible to save on your taxes with the Public Transit Pass Tax Credit. Under this plan, taxpayers can receive a 15% tax credit for all eligible public transit passes.
For example, if you spend $100 a month for 12 months on a bus pass, the amount you can claim for 2008 would be $1200, resulting in a $180 non-refundable tax credit. It’s like receiving an indirect discount on your transit pass. Non-refundable means that it is applied to your taxes owed and does not result in a direct cash refund.So don’t forget to claim your Public Transit Tax Credit when you file your taxes and be sure to keep your receipts and/or passes as proof.

For more information, visit:

http://www.transitpass.ca/


35% off Kobo ebooks

Tagged with: [ ]

Four Quick Tax Credits for Students

Posted by: Frugalis.ca

4 Quick Tax Credits for Students

Moving expenses: Students who move more than 40 kilometres from home to attend post-secondary education on a full-time basis, or move more than 40 kilometres from their school address to start a job or a business including summer employment, may be eligible to deduct their moving expenses.
Interest on Student Loans: Students can claim the interest paid on loans for post-secondary education and carry forward any unclaimed amounts for five years.
Tuition, education and textbook tax credits: Three non-refundable tax credits include tuition fees paid for post-secondary education, education credits ($400 per month for full-time students for each eligible month of attendance, or $120 per month for part- time students), and a textbook credit (equal to $65 for each eligible month in school, or $20 per month for part-timers).
Public Transit Credit: Students who take public transit and purchase a monthly pass can claim 15 per cent of the total amount spent.

Tagged with: [ , , ]

Chartered Accountants of Ontario Volunteers

Posted by: Frugalis.ca

Tax Software That Gets You Every Penny You Deserve
Find a CA Volunteer: A Free Community Service

The CA Institute is proud of the extensive community service and leadership provided by individual Chartered Accountants. Charitable organizations often seek CAs for positions such as treasurers, chairs of boards, presidents of organizations and leaders of committees. Take advantage of this free service and find a CA volunteer for your organization.

Check out the details or find a CA Volunteer


turbotax

Tagged with: [ , , , ]

Free Tax Information Forums across Ontario for Businesses

Posted by: Frugalis.ca
A one-stop information forum for small to medium-sized businesses.

A Tax Information Forum (TIF) is a FREE one-day event that provides you with an opportunity to access valuable information on key tax and business programs administered in Ontario.

At a TIF, you can:

  • attend seminars
  • visit information booths, and
  • speak to knowledgeable specialists from:
    • Ministry of Revenue
    • Canada Revenue Agency
    • Workplace, Safety and Insurance Board
    • Ministry of Training, Colleges and Universities
    • Service Canada
    • Canada Business Ontario
    • Local Business Enterprise Centres and/or Chambers of Commerce
      and more organizations

Upcoming TIFs


turbotax

Tagged with: [ , , ]