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2016 Personal Tax Checklist

It’s Personal Income Tax Time Again… At Canwest Accounting, we are happy to help you with your personal income tax returns.  That’s why we have created a “2016 Personal Tax Checklist” for you to fill in before you come to see us. Simply print out the checklist, fill in, then let us help you with…

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First-Time Donor Super Tax Credit

Incentive to donate! The temporary First-Time Donor Tax Credit adds 25% to the rates used to calculate the non-refundable tax credits of up to $1,000 in monetary donations. As a result, a first-time donor will be allowed a 40% federal credit for donations of $200 or less, and a 54% federal credit for the portion…

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Tax-Free Savings Accounts

Tax-Free Savings Accounts (TFSA) are a great way to save money. Interest, dividends, and capital gains earned on investments in a TFSA are not subject to tax, either while held in the account or when withdrawn. This means that they will not affect your eligibility for Federal income–tested government benefits and credits such as Old…