CANADIAN TAX HISTORY
In September 20, 1917, the Canada Income Tax Act. (ITA) was born declaring: 2 (1) 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. This tax was required as a necessity to finance the addition […]
2018 – 2019 Corporate Income Tax Rates in Canada (combined Federal & Provincial)
In Canada Building a business is an emotional, financial, and physical investment and the Corporate Income tax rate is a tax collected from companies. Its amount is based on the net income companies obtain while exercising their business activity, normally during one business year. Therefore having a comprehensive tax strategy for your business is a […]
Customer Appreciation Day
If you were a deemed resident of Canada in 2018.
If you were a deemed resident of Canada in 2018, you have to report your income from all sources, both inside and outside Canada. — Amounts that are not taxed in Canada —You do not have to report certain amounts as income,including all of the following:■ any GST/HST credit and CCB payments■ child assistance payments and […]
Mastertax, your business partner.
MASTERTAX is the business partner you have been looking for. Not all Canadians are familiar with federal Income tax regulations and the complex tax system that keeps changing time after time or how to file personal or business tax returns. At MASTERTAX, We are experts in Canadian Taxation and we love to help our clients, […]
2019 Canadian Federal Tax Rates
How much tax you’ll pay is determined by where you live in Canada, In Ontario we pay additional tax rates – – 5.05% on the first $43,906 of taxable income – 9.15% on the next $43,906-$87,813– 11.16% on the next $87,813-$150,000 – 12.16% on the next $150,000-$220,000
