Key TAX changes for 2006

[Mark]

http://www.ufile.ca/TaxNewsAndTips/TaxChangesPromo.asp

Key tax changes for 2006

When you go to prepare your 2006 tax return for this year, you are bound to find some changes whether you are a senior, a student or an employed person.

Basic personal amounts and credits have been indexed as usual but this year new rules are in place and one credit has actually been doubled. So keep your eyes peeled for tax advantages that you may not have been expecting

One example of this is for anyone receiving a registered pension. The pension amount, a non-refundable credit of $1,000 in prior years, has now jumped to $2,000.

The new Canada employment credit, is aimed at covering expenses incurred by all employed persons. No receipts are required. The credit applies just about anyone reporting T4 income as it allows you to claim the lesser of $250 and the total of your (T4) employment income. The credit came into effect in July, 2006 and so is only half of the amount it will be in 2007.

Old public transit passes can become found money if you saved them since July, 2006. If your pass is for a month or longer and you can prove that they were purchased by you, your spouse or a dependant, you may use this non-refundable credit to reduce your taxes.

Students are big winners this year as the education amount has been increased and a credit has been added for textbooks. Also full and part-time students will find their education amounts have increased to $465 and $140 per month respectively.

Scholarship, fellowship and bursary income are now fully exempted from tax. This exemption is limited to amounts received from the school from which the education amount stems.

Keep in mind that the new Universal Child Care Benefit though taxable, should be reported on the return of the partner with the lower income.

These changes and all others including, of course 2006 tax rates and indexed credits have been programmed into your UFile program. Trust UFile’s MaxBack refund analyzer to put them to work for you wherever they apply.

For further information on Canadian tax law changes, please visit the CRA's Web site.

Quebec tax law changes are available here. For further information, please visit the MRQ's Web site.

[sasho71]

Scholarship, fellowship and bursary income are now fully exempted from tax. This exemption is limited to amounts received from the school from which the education amount stems.

ooo, да, да! първото изречение ми гали ухото, само че второто някой ще ми "преведе" ли на по-разбираем език

[bgmontreal]

Scholarship, fellowship and bursary income are now fully exempted from tax. This exemption is limited to amounts received from the school from which the education amount stems.

ooo, да, да! първото изречение ми гали ухото, само че второто някой ще ми "преведе" ли на по-разбираем език

ами става дума за студенски заеми (защото трябва да има учене едукешън амаунт идва от Т2201 дето ти го дават от колежа/университета).
с две думи асистенти, професори и т.н. НЕстуденти не облажват

[Mark]

Scholarship, fellowship and bursary income are now fully exempted from tax. This exemption is limited to amounts received from the school from which the education amount stems.

ooo, да, да! първото изречение ми гали ухото, само че второто някой ще ми "преведе" ли на по-разбираем език

Това освобождаване е лимитирано до средствата, получени от училището от което средствата произлизат.

нещо такова ...

[sasho71]

Scholarship, fellowship and bursary income are now fully exempted from tax. This exemption is limited to amounts received from the school from which the education amount stems.

ooo, да, да! първото изречение ми гали ухото, само че второто някой ще ми "преведе" ли на по-разбираем език

ами става дума за студенски заеми (защото трябва да има учене едукешън амаунт идва от Т2201 дето ти го дават от колежа/университета).
с две думи асистенти, професори и т.н. НЕстуденти не облажват

това значи, че като взимам на Федерално ниво стипендия го духам, така ли ??? Че те Университетите не дават кой знае колко като сума, далаверата иде от провинциалните и федерални стипендии.

[Kan_Tangra]

тва 2 то изречение и аз не мога да го вдяна. Все пак париците идват от gouv.
От унив , във формуляра Т2202А има само таксите за уни, които са само към 1-2-3-4 к.
Да не би само те да са необлагаеми ?

Ако е така само се правят, че има облекчения. Кога ше станем като Алберта - без данъци ....

[sasho71]

тва 2 то изречение и аз не мога да го вдяна. Все пак париците идват от gouv.
:

е не е така, Entrance Scholarship-итe и някои други дребни Award-и за успех си идват от самия Университет...Въпроса е че не са големи като сума-применро 5ооо$ на година, докато провинциалните и федералните могат до 43000$ да стигнат. То затуй е тва ограничение май, щото много ще ти стане , това е 3600$ чисто на месец...

[dog]

Scholarship, fellowship and bursary income are now fully exempted from tax. This exemption is limited to amounts received from the school from which the education amount stems.

Това отнася ли се за стипендиите за които се получава документа Т4-А ( RL-1L), или само за стипендии отпуснати от университета?

[Erin]

Tova pishe v sita na Revenue Canada:

"Scholarships, fellowships, bursaries, and artists' project grants
Enter on line 130 the total amounts you received in 2006 (box 28 of your T4A slip).

Previously, if you received any amounts (other than an artist's project grant) for a program for which you could claim the education amount (see line 323), you totalled the amounts received and reported as income on your return on line 130 only the part of the total of all amounts that was more than $3,000. Under proposed legislation, the full amount of scholarships, fellowships, or bursaries that are received by you as a student with respect to your enrolment in a program that entitles you to claim the education amount are not taxable and are no longer reported as income on your tax return.

If you are not eligible for the education amount, report on line 130 only the amount that is more than $500."
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Az polu4ih T4A slip ot AFE i v4era se obadih v Revenue Canada da pitam dali e taxable i 4oveka mi kaza 4e ne ot tazi godina, no ne beshe 100% siguren. Ako niakoy ima po sigurna informacia neka pishe.

[dog]

Изглежда стипендиите които се получават от правителството се облагат в частта си над 3000$, а тези получени от учебните заведения не.

[sasho71]

Изглежда стипендиите които се получават от правителството се облагат в частта си над 3000$, а тези получени от учебните заведения не.

taка излиза май, да, с едната ръка дават, с другата взимат