Search results
Results from the WOW.Com Content Network
The Income Tax Act, Part I, subparagraph 2 (1), states: "An income tax shall be paid, as required by this Act, on the taxable income for each taxation year of every person resident in Canada at any time in the year." After the calendar year, Canadian residents file a T1 Tax and Benefit Return [ 5] for individuals.
Royalty payment. A royalty payment is a payment made by one party to another that owns a particular asset, for the right to ongoing use of that asset. Royalties are typically agreed upon as a percentage of gross or net revenues derived from the use of an asset or a fixed price per unit sold of an item of such, but there are also other modes and ...
Adjusted gross income is gross income less deductions from a business or rental activity and 21 other specific items. Several deductions ( e.g. medical expenses and miscellaneous itemized deductions) are limited based on a percentage of AGI. Certain phase outs, including those of lower tax rates and itemized deductions, are based on levels of AGI.
You can find instant answers on our AOL Mail help page. Should you need additional assistance we have experts available around the clock at 800-730-2563.
The federal government levies a value-added taxof 5%, called the Goods and Services Tax(GST), and, in five provinces, the Harmonized Sales Tax(HST). The provinces of British Columbia, Saskatchewan, and Manitobalevy a retail sales tax, and Quebeclevies its own value-added tax, which is called the Quebec Sales Tax.
Postal orders of Canada. Postal orders were a service provided by the Canadian Post Office, and was a method of transferring funds between 1898 and 1 April 1949. Postal orders have been issued by the Canadian Post Office roughly since confederation (the timeline linked to below, for example, cites the postal money order system as expanding to ...
The postal and philatelic history of Canada concerns postage of the territories which have formed Canada. Before Canadian confederation, the colonies of British Columbia and Vancouver Island, Prince Edward Island, Nova Scotia, New Brunswick and Newfoundland issued stamps in their own names. The postal history falls into four major periods ...
Pre-tax deductions are when your employer pulls money out of your check before the IRS gets its claws on its share of your income. Although it would, of course, be nice if you could keep it all ...