Posts tagged as:

tax

Calculate the tax before withdrawing money from your RRSP

by Moneyproblems TipsFri Nov 04, 2011 How NOT to deal with your debts

How NOT to deal with your debts Tip of the Day:
Don’t take money out of your RRSP unless you calculate the amount of tax payable and set that amount aside to give the government at tax time – RRSP withdrawals are taxable, and even though your financial institution will withhold some tax, it is most [...]

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File Your Taxes Early

by Moneyproblems TipsTue Feb 23, 2010 Money Saving Tips

In Canada you are required to file your personal income taxes by April 30 (self employed people may be eligible for a short extension).  In the United States the filing deadline is April 15.
Our tip of the day: file early; don’t wait until the deadline to file.
If you are expecting a refund, the sooner you [...]

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Big tax debts make your bankruptcy last longer

by Douglas HoyesFri Sep 25, 2009 bankruptcy Canada

Our final tip this week: If you have large tax debts, avoid bankruptcy.
One of the final rule changes implemented on September 18, 2009 is that if you go bankrupt, and you owe more than $200,000 in taxes, and if your tax debts are more than 75% of your total debt, the bankruptcy court must decide [...]

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