Here are the Federal Tax Rates for 2018: - 15% on the first $46,605 of taxable income,- 20.5% on the next $46,603 of taxable income (on the portion of taxable income over $46,605 up to $93,208),- 26% on the next $51,281 of taxable income (on the portion of taxable income over $93,208 up to $144,489),- 29% on the next $61,353 of taxable income (on the portion of taxable income over $144,489 up to $205,842),- 33% of taxable income over $205,842. You can also find these rates on Schedule 1 of your income tax return. You will find the provincial or territorial...
Continue reading
Rate this blog entry:
0
In early November of 2017, the Finance Minister announced the launch of the Government of Canada’s consultations for Budget 2018. The budget consultations allowed Canadians to provide their ideas and suggestions on how the Government can go about setting up Budget 2018 to benefit all Canadian families, communities and the country. There are a number of ways that Canadians who want to share their ideas with the Government which includes in-person and digital events with the Minister of Finance and Parliamentary Secretary Joel Lightbound, events with other Parliamentarians, and online through the budget 2018 website (www.budget.gc.ca/pbc18).In a statement published on January...
Continue reading
Rate this blog entry:
0
Here are some tips on how you can get ready for the tax season. 1. Keep track of all your income: You are required to report ALL of the income you have earned for the year on your income tax return. And if you fail to report an income, there is a penalty and you could possibly end up paying so much more. So it is important, if you have several streams of income aside from the employment income reported on your T4, to keep track of all of it by keeping receipts and other related documents organized. This will ensure...
Continue reading
Rate this blog entry:
0
The start of the new year marks the start of the preparations for the tax season. And as business owners and employers, it is important to at least know the basics of what types of income should be included in the T4 slips and when to file them. Types of income you should report on T4 slips: - Salary, wages, tips or gratuities, bonuses, vacation pay, employment commissions, gross and insurable earnings of self-employed fishers and all other remuneration you paid to employees during the year;- Taxable benefits or allowances;- Retiring allowances;- Deduction you withheld during the year; and- Pension adjustment...
Continue reading
Rate this blog entry:
0
Subscribe

If you have a question about one of our products or services, please do not hesitate to contact us!
Please Enter Your Name
Please Enter A Valid Email
Please Enter Your Phone Number
Please select your preferred method of contact.
Refresh Please letters shown!

KD Professional Services
Monday-Friday 9am- 5pm
102, 221 18th Street SE
Calgary, AB, T2E 6J5

403-219-0602
403-219-0603

Read our Tweets