BU413 Lecture Notes - Lecture 4: Canada Pension Plan, Income Splitting, Tax Avoidance
Document Summary
Good set of capital gains on the website. **will most likely have some multiple choice questions. If (cid:455)ou"(cid:448)e paid i(cid:374) too (cid:373)u(cid:272)h (cid:373)o(cid:374)e(cid:455) (cid:455)ou get so(cid:373)ethi(cid:374)g (cid:271)a(cid:272)k: deductions from paychecks, g t (cid:272)(cid:396)edit (cid:894)(cid:455)ou do(cid:374)"t (cid:374)eed a(cid:374)(cid:455) i(cid:374)(cid:272)o(cid:373)e(cid:895, you need to look at schedule 1, basic amount, you get 15%*11,474: reduces your taxes payable. If (cid:455)ou ha(cid:448)e (cid:373)o(cid:374)e(cid:455) i(cid:374) a(cid:374) r p, (cid:271)ut (cid:455)ou do(cid:374)"t ha(cid:448)e (cid:373)o(cid:374)e(cid:455) if a rif. Go to the financial institution, transfer money from rsp to rif and take the money out. Interest on student loans: keep your student loans as long as possible because you get a credit, no incentive to pay it off early (does not make economic sense, you can carry forward unused amounts. It is not transferable: education amount, not necessarily just for uni/college students, donations and gifts: if the year of death and year prior to death you can claim 100, summarize the credits, personal situation based.
