IN THE NEWS – Comox Valley Record – April 30, 2010

“Crunching the Right Numbers” www.bclocalnews.com/vancouver_island_north/comoxvalleyrecord/business/92468314.html

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Cosmetic Procedures will become ineligible for Medical Expense Tax Credit

The Medical Expense Tax Credit provides tax recognition for above-average medical and disability-related expenses incurred by individuals. For 2010, the Medical Expense Tax Credit reduces the federal tax of a claimant by 15 per cent of eligible unreimbursed medical expenses in excess of the lesser of $2,024 and three per cent of net income. An […]

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Do you have to declare your roommate on your tax return ???

Renting below fair market value You can deduct your expenses only if you incur them to earn income. In certain cases, you may ask your son or daughter, or another relative living with you, to pay a small amount for the upkeep of your house or to cover the cost of groceries. You do not […]

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BC HST

Posted by the Province of British Columbia http://www.gov.bc.ca/hst/faq.html Posted by Canada Revenue Agency www.cra-arc.gc.ca/gncy/hrmnztn/bc/menu-eng.html HST Registration for Small Suppliers Businesses that currently are not registered for the GST because they are considered a small supplier (any particular 4 consecutive calendar quarters that their income does not exceed $30,000), will also be able to opt out […]

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An I-Phone and Blackberry are computers

You can take advantage of the new rate class 52 (100% CCA) created for General Purpose Electronic Data Processing Equipment, the same as you do for the purchase of a computer or laptop from Jan 29, 2009 to Feb 2011. “General-purpose electronic data processing equipment” is defined as electronic equipment that requires an internally stored […]

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