Prepaid Amounts

Prepaid amounts that relate to goods and services to be received or benefits expected to be derived in a future taxation year are deductible in the taxation year in which the goods or services are received or benefit derived. Subsection…

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Office Rent/Home Office Expense

The work space in the home must be the place where the employee principally performs the duties of the office/employment, or used exclusively for earning the office/employment income and used regularly and continuously for meeting customers (includes clients and patients)…

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Filing Deadlines and Date of Taxes Due

 Filing Deadline  Due Date of Tax  Corporations  Six months from year end.  Two months from year end(three months for Canadian-controlled private corporations). Quarterly installments.  Individuals  April 30 of the following calendar year.  Withholding tax and/or quarterly installments.  Trusts and Estates…

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Employee Deductions

The expense is usually directly related to earning employment income; The terms of employment commonly require that the employee incur additional expenses in carrying out his/her duties of employment; and The employer does not reimburse for the expense. hereditary microscopic…

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Defining the Taxation Year

Employment income is reported based on a calendar-year, there is no alternative. The taxation year of an individual always ends December 31. calming are the best at essentially decreasing nervousness during development torment drug Tetrahydrocannabinol (THC) is being exstensively studied…

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