Let’s look at more tax credits that Alberta offers for this tax year.  -      Political contribution tax credit:  You can claim this credit if you contributed to a registered Alberta political party, a registered candidate or a registered constituency association in an election held under the Election Act for this province or a registered Alberta political party that has nominated a candidate or a registered candidate in an election held under the Senatorial Selection Act for this province. -      Provincial foreign tax credit:  If your federal foreign tax credit on non-business income is less than the related tax you paid to...
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Tax rates for Alberta for the tax year 2016 are as follows: -      10% on the first $125,000 of taxable income, + -      12% on the portion of taxable income more than $125,000 but not more than $150,000, + -      13% on the portion of taxable income more than $150,000 but not more than $200,000, + -      14% on the portion of taxable income more than $200,000 but not more than $300,000, + -      15% of taxable income over $300,000. Alberta offers credits which further reduce your amount of provincial tax payable. Here are some of them: -      Alberta additional tax...
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Your tax slips are prepared by your employers, payer or administrator.  Most tax slips and receipts will be sent out to you by the end of February.  However, T3 and T5013 slips do not have to be sent out before the end of March.  There are several types of tax slips that you might want to be aware of. 1.     T4 slips include the following:  T4 Statement of Remuneration Paid, T4A Statement of Pension, Retirement, Annuity and Other Income, T4A (OAS) Statement of Old Age Security, T4A (P) Statement of Canada Pension Plan Benefits, T4E Statement of Employment Insurance and Other...
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If you have moved recently, you must inform the CRA as soon as possible.  Remember, you must always keep your personal information with the CRA up-to-date will ensure that there are no delays with your GST/HST credit, Canada child tax benefit payments and Working income tax benefit advance payments.  You may also experience delays in receiving important correspondence from the CRA if you do not inform them of your change in address.  So if you have recently moved, you can change your address online (through the MyAccount feature), by mail (send a completed Form RC325, Address change request or by sending...
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