Personal Taxation

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I n 1917, a tax on income was introduced as a temporary measure to fund the first world war effort. It has since become a permanent feature of the Canadian tax system. Like all accountants, bookkeepers and tax filing services we can prepare your personal tax return and file it. In addition, we look at the big picture to produce a result that is most beneficial to you. Some of the ways we do this is to ask the following questions: • What is the most efficient way of taking the profits out of your business? • Have you utilized all the available deductions and allowances available to you? • Do we know how much you require to live and does it match with your declared income? • Are deductions from income claimed on a consistent year on year basis? Our personal taxation services are surprisingly affordable. Basic personal tax returns start at $49. Personal tax planning The right time to start planning your taxes is months ahead of the tax deadline. Its why we recommend that you carefully consider our small business accounting package. It provides us the opportunity to stay well informed about your business and allows us to help plan your taxes. Foreign Income Canadians pay tax on their world-wide income. This means that any income received form another Country is taxed in Canada. If a double taxation agreements exists, Canadians are able to deduct foreign taxes paid from their Canadian taxes.