Archive for 'Canadian Tax News'
Canada Continues To Aim At Attracting New Investment With Lower Taxes
Posted on 06. Jan, 2010 by Phil Hogan.
The Canadian government continues to boast about their plans to further reduce income tax for corporations in an effort to attract additional investment from outside its borders.
Some of the tax changes include:
Substantial, broad-based tax reductions that are lowering the federal general corporate income tax rate from 22.12 per cent (including the corporate surtax) [...]
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The Goverment Gives Long-Haul Truck Drivers Additonal Tax Benefits
Posted on 02. Jan, 2010 by Phil Hogan.
On December 28th, 2009 the Minister of Finance announced that the eligible deduction portion of meal expenses for long-haul drivers will be increased to 75% from 70% for meals incurred in 2010.
The announcement also discusses an additional increase for meals incurred after 2010 to 80%.
The full announcement can be read here.
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Flaherty Announces New Automobile and Expense Rates for Business
Posted on 02. Jan, 2010 by Phil Hogan.
On December 31th, 2009 the Minister of Finance announced the following items:
The capital cost allowance cap of $30,000 (plus applicable taxes) for passenger vehicles will remain in affect for vehicles purchased after 2009.
The maximum allowable deduction for interest incurred on debt to finance business vehicles will remain at $300 per month.
The maximum deduction for leased [...]
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The Case For A Canadian Flat Income Tax System
Posted on 12. Dec, 2009 by Phil Hogan.
Maureen Bader at the Canadian Taxpayers Federation makes the case for a flat Canadian Tax citing stats from 2004 Statcan data.
The short article can be read here:
http://www.taxpayer.com/blog/11-12-2009/weathy-bear-disproprionately-higher-tax-burden
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