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Manitoba tax Information

Mailing Address:	Manitoba Finance Taxation Division 101 – 401 York Avenue Winnipeg MB R3C 0P8
Telephone:	204-945-6444
Toll-Free (in Manitoba):	1-800-782-0318
Email:	[email protected]
Web:	http://www.gov.mb.ca/finance/taxation/index.html
Mailing Address:	Manitoba Tax Assistance Office #809 – 386 Broadway Winnipeg MB R3C 3R6
Telephone:	204-948-2115
Toll-Free (in Manitoba):	1-800-782-0771
Email:	[email protected]
Web:	http://www.gov.mb.ca/finance/tao/index.html

Personal Taxation

Manitoba Income Tax
http://www.gov.mb.ca/finance/tao/mbinctax.html

Provincial Sales Tax / Harmonized Sales Tax (PST/HST)
http://www.gov.mb.ca/finance/taxation/taxes/retail.html

Education Property Tax Credit Program
http://www.gov.mb.ca/finance/tao/eptc.html

Gasoline / Fuel Tax
http://www.gov.mb.ca/finance/taxation/taxes/gasoline.html

Tobacco Tax
http://www.gov.mb.ca/finance/taxation/taxes/tobacco.html

Business Taxation

Corporate Income Tax
Manitoba’s Personal and Corporate Income Taxes and the Goods and Services Tax (GST) are administered by the Canada Revenue Agency (CRA)

Corporation Capital Tax
http://www.gov.mb.ca/finance/taxation/taxes/corporation.html

Provincial Sales Tax / Harmonized Sales Tax (PST/HST)
http://www.gov.mb.ca/finance/taxation/taxes/retail.html

Health and Post Secondary Education Tax (Payroll Tax)
http://www.gov.mb.ca/finance/taxation/taxes/payroll.html

Mining Tax
http://www.gov.mb.ca/finance/taxation/taxes/mining.html

The Health and Post Secondary Education Tax Levy (Payroll Tax)
http://www.gov.mb.ca/finance/taxation/taxes/payroll.html

Gasoline / Fuel Tax
http://www.gov.mb.ca/finance/taxation/taxes/gasoline.html

Mailing Address: Ministry of Provincial Revenue
Customer Service and Information Branch
Suite 800 360 West Georgia Street
Vancouver BC V6B 6B2
In Victoria call: 387-6121
In Vancouver call: 604-660-2421
Elsewhere in BC call: 1-800-663-7867
Outside British Columbia: 604-660-2421
Email: [email protected]
Web:
http://www.fin.gov.bc.ca/rev.htm

Forms
http://www.rev.gov.bc.ca./ctb/Forms.htm

Current Tax Rates
http://www.rev.gov.bc.ca/ctb/TaxRates.htm
Personal Taxation

British Columbia Income Tax
http://www.rev.gov.bc.ca/itb/
http://www.rev.gov.bc.ca/itb/itapit/itapit.htm

Provincial Sales Tax / Harmonized Sales Tax (PST/HST)
http://www.rev.gov.bc.ca/ctb/publications/brochures/bcsales.htm

Gasoline / Fuel Tax
http://www.rev.gov.bc.ca/ctb/publications/bulletins/mft_005.pdf

Tobacco Tax
http://www.rev.gov.bc.ca/ctb/publications/bulletins/tta_005.pdf

Taxation on Insurance Premiums
http://www.rev.gov.bc.ca/itb/ipt/ipt.htm

Property Transfer Tax
http://www.rev.gov.bc.ca/Rpt/ptt/ptt.htm
Business Taxation

Corporate Income Tax
http://www.rev.gov.bc.ca/itb/itacit/itacit.htm

Provincial Sales Tax / Harmonized Sales Tax (PST/HST)
http://www.rev.gov.bc.ca/ctb/publications/brochures/bcsales.htm

Corporations Capital Tax
http://www.rev.gov.bc.ca/itb/cct/cct.htm

Mining and Mineral Rights Tax
http://www.rev.gov.bc.ca/itb/mt/mt.htm

Logging Tax
http://www.rev.gov.bc.ca/itb/log/log.htm

Gasoline/Fuel Tax
http://www.rev.gov.bc.ca/ctb/publications/bulletins/mft_005.pdf

Alberta

Mailing Address: Alberta Finance
Room 426, Terrace Building
9515 – 107 Street
Edmonton, Alberta, T5K 2C3
Telephone: 780-427-3035
Facsimile: 780-427-1147
Web: http://www.finance.gov.ab.ca

Forms
http://www.finance.gov.ab.ca/publications/tax_rebates/index.html
Personal Taxation

Alberta Income Tax
http://www.finance.gov.ab.ca/publications/budget/budget2004/tax.html#5
For information on personal income tax refer to the Canada Revenue Agency.

Gasoline / Fuel Tax
http://www.finance.gov.ab.ca/publications/tax_rebates/fuel/overview.html

Tobacco Tax
http://www.finance.gov.ab.ca/publications/tax_rebates/tobacco/overview.html

Hotel Room Tax
http://www.finance.gov.ab.ca/publications/tax_rebates/hotel/overview.html

NHL Players Tax
http://www.finance.gov.ab.ca/publications/tax_rebates/nhl/overview.html

Alberta Indian Tax Exemption
http://www.finance.gov.ab.ca/publications/tax_rebates/aite/overview.html
Business Taxation

Corporate Income Tax
http://www.finance.gov.ab.ca/publications/tax_rebates/corporate/overview.html
http://www.finance.gov.ab.ca/publications/budget/budget2004/tax.html#2

Gasoline/Fuel Tax
http://www.finance.gov.ab.ca/publications/tax_rebates/fuel/overview.html

Canada Revenue Agency

Canada Revenue Agency (CRA)
T.I.P.S. (Tax Information Phone Service) 1-800-267-6999
Individual income tax enquiries 1-800-959-8281
Income tax refund enquiries 1-800-959-1956
Information and services for businesses
and self-employed individuals 1-800-959-5525
GST/HST credit 1-800-959-1953
For a full list of contact information see:
http://www.cra-arc.gc.ca/contact/menu-e.html

Canada Revenue Agency Home Page
http://www.cra-arc.gc.ca/

CRA Online Course – Learning About Taxes
http://www.cra-arc.gc.ca/tax/individuals/topics/learn-tax/menu-e.html

Canada Income Tax
http://www.cra-arc.gc.ca/tax/individuals/menu-e.html
1-800-959-8281

Business Taxation
http://www.cra-arc.gc.ca/tax/business/menu-e.html
1-800-959-5525

Goods and Services Tax / Harmonize Sales Tax (GST/HST)
http://www.cra-arc.gc.ca/tax/business/topics/gsthst/menu-e.html
1-800-959-1953

Other (Non-resident, Charities, Non-Profits, Trusts, etc.)
http://www.cra-arc.gc.ca/tax/menu-e.html

RRSP Calculators Investment Calculators

Online Investment / RRSP Calculators

Altamira Investment Calculators
http://www.altamira.com/altamira_en/education-tools/investment+calculators/rrsp+calculator.htm

BMO Investing
http://www.bmoinvesting.com/calc/amisaving_index.asp

Canada Savings Bonds
http://www.csb.gc.ca/eng/resources_calculator_rrsp.asp

Mackenzie Financial
http://www.mackenziefinancial.com/rrspcalculator

MorningStar
http://www.morningstar.ca/globalhome/rrspcalculator/index.asp

Royal Bank of Canada (RBC)
http://www.rbcroyalbank.com/RBC:QwXqao71A8QAAxyeH2s/products/rrsp/rrsp-calculator.html

Canadian Tax Basics

In Canada, taxes, tariffs, and duties are collected by different levels of government to fund their programs and services. The three levels of taxation are:

Federal, through the Canada Revenue Agency;
Provincial / Territorial, through respective provincial/territorial finance or revenue departments; and
Municipal, through local government.

There are different types of tax applied by these levels of government on consumers, wage earners, and businesses. The basic types of taxes include:

Income tax derived from an individual’s employment or a corporation’s business revenues;
Consumer (retail or sales taxes) and Excise taxes, levied on the production, sale, or consumption of goods and services;
Property taxes, derived from the sale and transfer of property.
Import / Export, based on the movement of goods across borders.

The amount of tax each Canadian pays depends on a number of factors including:

Your employment income (how much you earn)
Where you live (your province, city, and whether you own or rent)
What deductions you are eligible to declare (amounts you can subtract from your income to reduce your taxable income); and
The products you consume and the consumption taxes associated with those products.

Canadian Tax Books and Videos

Following are just a few of the many personal and business tax and accounting books

TFSA Information

What is a TFSA?

In the 2008 Budget, Minister Jim Flaherty announced the creation of this new savings vehicle. While the TFSA is similar to an RRSP there are some notable differences. As with a RRSP, the account is intended to help Canadians save money and plan for future expenses. The contributions you make to the TFSA are made with after-tax dollars but withdrawals are tax-free. So whether saving for a new car or a new house, tax-free savings may help you get there.

Available to Canadians 18 and older, the TFSA will allow you to invest up to $5,000 annually, and carry forward any unused contribution room from year to year. There will be no lifetime contribution limit.

For savvy investors who realize significant capital gains in these accounts, the best thing about the TFSA is that there is no tax on investment income, including capital gains! How good is that?! This is the main difference between the TFSA and a RRSP account.

Some of the details from the Conservative Budget:

Starting in 2009, Canadian residents age 18 or older will be eligible to contribute up to $5,000 annually to a TFSA, with unused room being carried forward.
Contributions will not be deductible.
Capital gains and other investment income earned in a TFSA will not be taxed.
Withdrawals will be tax-free.
Neither income earned within a TFSA nor withdrawals from it will affect eligibility for federal income-tested benefits and credits.
Withdrawals will create contribution room for future savings.
Contributions to a spouse’s or common-law partner’s TFSA will be allowed, and TFSA assets will be transferable to the TFSA of a spouse or common-law partner upon death.
Qualified investments include all arm’s-length Registered Retirement Savings Plan (RRSP) qualified investments.
The $5,000 annual contribution limit will be indexed to inflation in $500 increments.

According to the Budget release, “in recognition of the fact that couples often make their savings decisions and plan for their financial security on a joint basis, individuals may contribute to the TFSA of their spouse or common-law partner, subject to the spouse or partner’s available contribution room.”

RRSP

March 1, 2011 – Canadian RRSP Deadline for 2010 Tax Year This is the deadline for making RRSP contributions for deductions against your 2010 tax filing. For online tools to assist you in calculating investment and RRSP contributions, see our list of RRSP Calculators / Investment Calculators.

What is an RRSP?

A Registered Retirement Savings Plan (RRSP) is a retirement investment plan registered with the government to which you or your spouse can contribute through RRSP-eligible investments, such as some stocks and mutual funds. For information on what investments are RRSP eligible, please contact a financial advisor and/or your financial institution.

Deductible RRSP contributions can be used as a means to reduce your taxes. Amounts earned in the RRSP investment is usually exempt from tax for the time the funds remain in the plan. When you cash in or receive payments from the plan (typically at retirement) you will then pay tax on those amounts.

When is the the RRSP deadline for the 2010 tax year?

March 1, 2011, is the deadline for contributing to an RRSP for the 2010 tax year.

How much can I deduct on my 2010 taxes?

The amount you can deduct on your tax filing is based in part on a percentage of your previous year’s earnings and any eligible deduction room carried forward from the previous year. Your RRSP deduction limit is shown on your Notice of Assessment or Notice of Reassessment for the previous tax year.

If you are unable to use any part of your RRSP deduction limit, the unused amount can be carried forward to next year, increasing your deduction limit for that year. Unused deductions can be carried forward indefinitely.

When can I withdraw money from my RRSP?

Funds are usually held in an RRSP plan until retirment at which time they may be withdrawn or migrated to other investment plans. If your RRSPs are locked-in you will not be allowed to withdraw funds from them without penalty until you terminate employment and the plan (i.e. retirement). Contact the issuer / financial institution holding your RRSP investments for further information about withdrawl and see the Canada Revenue Agency web site for information on withholding rates on withdrawls.

Two programs exist for making withdrawls tax-free from your RRSP under the requirement that you repay the amounts.

The Home Buyers’ Plan allows you to withdraw up to $20,000 from your RRSPs to buy or build a home for yourself or for someone who is related to you and is disabled. You have up to 15 years to repay the amount to your RRSP.
The Lifelong Learning Plan also allows you to withdraw up to $20,000 (limit of $10,000 annually) from your RRSPs to finance training or education for you or your spouse or common-law partner. You cannot use your RRSP to fund a child’s education.

Where can I get more RRSP information?

For further information about RRSP deduction limits please consult:

the Canada Revenue Agency web site (RRSP Frequently Asked Questions); and/or
a financial advisor.

Canadian Tax Software

There are numerous companies that produce tax software for filing your Canadian income tax return. This page provides a list of companies or software of which we are aware.

Please note that inclusion in this list is in no way an endorsement of any product or company. SaveRealCash.com is not associated with any vendor of Canadian tax software. SaveRealCash.com does not warrant the accuracy of information provided by these companies nor the suitability of these products to your needs. Buyer beware.

Articles about these products may appear on the SaveRealCash.com Blog and other web sites which may provide useful information to you. If you are considering purchasing tax preparation software you are advised to research the product prior to purchase.