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Property Tax Appeals - Property Tax Reduction

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Can I Include The Social Security And Medicare Tax Withheld In Foreign Tax Credit For Canada Tax Return?

Question by guowilliam | Posted in Canada

I am Canadian living and have got W-2 from employer of United State. Anybody knows how claim the Income tax re-emergence in Canada for my W-2 income and tax withheld? Can I include social security and medicare tax withheld for Curious Tax Credit?

Answer: No.These are considered "payments made to earn a specific right or privilege".

http://www.cra-arc.gc.ca/E/pub/tp/it270r 3/it270r3-e.html#P120_11968

Not that if the income is less than $10,000 and you drained less than 183 days in the US, you can exclude this income
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What Are The Tax Implications In Canada Of $8000 Tax Credit For Buying A Home In US?

Question by saadis01 | Posted in Canada

I'm Canadian townswoman and H1 in US. I file taxes in both countries (Refund in US, pay in Canada). Is there any advantage of buying a house in US and get the $8000 credit, keeping in grey matter the more return I get there, I'll have to deduct from the taxes paid (I think) when filing in Canada.

Answer: I'd believe there would be little gain from the credit itself. In effect, you foreign tax credit in Canada will be reduced if you paid less tax in the US, so the money is in one aid, out the other.

Whether you buy in the US should be based on your needs and situation, not the tax savi

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Canada - Tax Credit For Public Transit - Means Public Transit Is Free?

Question by Sergei Shelukhin | Posted in Canada

Hey. I was checking the efficiency of tax program w/my tax filing, so I noticed an interesting line - line 364 - Buyers transit amount, which says you can reimburse monthly/similar passes for public transport.
Am I missing something, or does this essentially mean public transit in Canada is free

Answer: No, the tax credit represents only a uninspired portion (15%) of your transit passes.

Not free.

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How Do You Calculate Tuition Tax Credit In Canada?

Question by kimkim5847 | Posted in Canada


remorseful, I wasn't clear. I went to a university in the US and total tuition was $100000. How do I count how much I can deduct from my current income in Canada?

Answer: Aspect T2202A (Tuition and Education Tax Credit)

In Canada, you may be able to reduce income tax payable by claiming tax credits for enrolment in and payment of training and academic fees for University’s credit courses. To be eligible for the tax credit, the total of such fees paid

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2011 New Personal Tax Credits and Deductions Canada

2011 New Familiar Tax Credits and Deductions Canada have brought about some changes. As a Canadian taxpayer it is important that you recognize what ...

Uptake and effectiveness of the Children's Fitness Tax Credit in ...

by 7thSpace.com

The Administration of Canada implemented a Children's Qualifications Tax Credit (CFTC) in 2007 which allows a non-refundable tax credit of up to $500 to annals a youngster in an suitable earthly pursuit (PA) program. The purposes of this studio were to assess whether the awareness, perceptiveness, and perceived effectiveness of this tax credit miscellaneous by household profits among Canadian parents.

Methods: An internet-based...

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