Foreign Tax Credits: Problems with Timing of Income ...

Foreign Tax Credits: Problems with Timing of Income Recognition

Two of the factors limiting the foreign tax credit (business or non-business) for a year are the foreign tax paid for the year and the estimated Canadian tax on the foreign income for the year. In certain situations, however, the foreign tax in this calculation appears in a different year than the Canadian tax on the foreign income....

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Website: http://www.ctf.ca

Income taxes in Canada - Wikipedia

History[ edit ]

Unlike the United Kingdom and the United States , Canada avoided charging an income tax prior to the First World War . The lack of income tax was seen as a key component in Canada's efforts to attract immigrants as Canada offered a lower tax regime compared to almost every other country. Prior to the war, Canadian federal governments relied on tariffs and customs income under the...

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Date: 2018-04-03 02:15:40
Website: https://en.wikipedia.org

CPABC - Tax Tips 2014 - bccpa.ca

Employment Income, Deductions, and Credits

Reducing Payroll Deductions

If you are making RRSP contributions, you might be able to reduce the income tax deducted from your pay cheque. Ask your employer to make the contribution(s) to your RRSP directly and deduct the payments from your salary. The employer calculates the required income tax withholdings based on the portion of your salary remaining...

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Website: https://www.bccpa.ca